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In the third quarter, the real estate market in Hanoi received more than 6,800 new apartments were offered from 16 projects, down 38% over the same period in 2015.

On October 7th, CBRE Vietnam Co., Ltd announced the report on real estate market in Hanoi in the third quarter / 2016. Accordingly, the segment of housing supply in the market increased compared to the second quarter but significantly reduced compared to 2015.

In the third quarter, the market received more than 6,800 apartments to be offered for sale from 16 projects. This figure increased 16% compared to the second quarter but decreased 38% over the same period of 2015.

The West continues to be the main source of supply, with 36% of new units open. Intermediate segment still dominates in new openings projects. However, new supply from the luxury segment and luxury apartment increased significantly. About 3,000 luxury apartments were launched in the third quarter, accounting for 45% of total sales.

There were 5,279 apartments sold in the third quarter, up 52% qoq. The sales growth rate of the high-end segment was 13%. In the first nine months, the number of apartments sold reached nearly 14,200. In particular, the number of middle-class apartments accounted for nearly 50%.

The price of the projects opened for sale from the previous quarter increased by 2%. Medium and high-end segments increased by 6% and 8%, respectively. On the secondary market, prices fell slightly by 0.2% quarter-on-quarter. Sales prices of completed projects fell by 2.6%, projects under construction increased by 1%.

In the third quarter, the Hanoi housing market only recorded 4 new projects: Gamuda Phase 3, La Casa villa, An Phu villa shop and Imperia Garden villa. These 4 projects added 446 units, lower than sales in the first two quarters.

CBRE Vietnam said that the last quarter of 2016 is expected to have more open sales projects such as Vinhomes Paradise Me Tri, Vinhomes Riverside Phase 2, The Manor Central Park, Tan Hoang Mai new urban area.

“The market is expected to continue to be positive in the fourth quarter. Both sales and open sales may continue to grow from the previous quarter. Many projects will continue in the fourth quarter and scattered in the developing areas of Hanoi, “CBRE Vietnam said.

Previously, CBRE also released a report on real estate market in HCMC in March/2016. Accordingly, the supply of housing segments in the market decreased significantly compared to the second quarter.

In the third quarter, HCM City market received a total of 8,016 new apartments from 23 projects. Of these, 13 are completely new projects and 10 are proposed for later stages. This figure decreased 17% compared to the second quarter and 27% over the same period last year.

In the fourth quarter, Ho Chi Minh City is expected to have 40,000 new apartments offered. In particular, a project of urban area in Can Gio District will contribute a large number of apartments offered for sale in Ho Chi Minh City.

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