Real Estate 2018 will increase prices in bulk in the segment, what will this be like? In recent times real estate news has always made new changes, especially at this time predictions of real estate will increase.
Real estate news about 2018
On January 4, CBRE released a report on the real estate market in HCM City in the fourth quarter of 2017 and forecasts for real estate market in 2018. In particular, the unit has also made a forecast for the year Real estate prices continue to rise on many different segments.
Specifically, CBRE expects average unit sales prices to increase by 3% in 2018, of which the premium segment and the luxury segment will increase by 5%, while for the mid-end and mid-end segment a lower increase of 1.5%.
As noted from Vietnam Real Estate, this is the latest real estate news that many people are interested in. According to CBRE, 2017 marked a shift in the real estate market from strong growth to sustainable. Although the number of apartments offered decreased, the structure of products suitable to help absorption of the market is still good.
Specific real estate situation 2018
In Q4 FY2017, the market received an additional 8.559 units, an increase of 12% quarterly, thus bringing the total yearly supply and the total stock of 31,106 units and 228,903 units respectively. Total supply in 2017 is down 18% from the previous year, thus enabling the market to absorb inventory from 2015 and 2016.
It can be seen that: “This is the stage where products are more invested in design, utilities, finishing materials to meet the increasing needs of customers. In addition, sales and marketing strategies are well prepared, “said CBRE.
The real estate news is that many home buyers worry about spending more money to pay when they intend to own an apartment.
However, in terms of the proportion of product segments, the mid-end segment accounts for 64% of total supply in 2017. This indicates a strong shift in the real estate market to meet demand. buyer’s demand to stay and create the foundation for a sustainable market. In terms of location, the apartment market in Ho Chi Minh City continues to expand to the East and South in districts 2, 7, 9, and Binh Thanh.
Remarkable spot on this latest real estate news
Remarkably, the situation of apartment consumption in the fourth quarter and the whole of 2017 was quite satisfactory in the segment. Specifically, in quarter 4/2017, the real estate market has 8,934 apartments were consumed, this number increased by 23% over the previous quarter and decreased 29% over the previous year. In total sales of apartments in 2017 reached 32,905 units, down 5% over the previous year. However, this is the first year in five years that the number of units sold exceeds the number of units sold in the year.
What about the price of real estate 2018?
According to real estate news that updated Vietnam Real Estate, the price, average selling price in the primary market in the fourth quarter of 2017 was recorded at $ 1,564 / sqm, this increase of 4.8% compared for the previous quarter and 3.6% lower than the same period last year.
So why is this significant decline? This is due to the increase in middle segment supply in the fourth quarter of 2017. Meanwhile, in 2017, the average selling price was US $ 1,558 / sqm, up 4% compared to 2016.
In 2018, CBRE forecasts that mid-range products will continue to account for a high proportion of moderate amounts of high-end and high-end segments being introduced, aiming to provide the foundation for a sustainable development. more firmly. This new property gives homeowners updated information on the cost of investing.
So, property prices in 2018 increase what will happen?
Looking back, in 2018 real estate prices will continue to rise, even in some major segments such as land, apartments, Nguyen Thi Minh Thy, director of TTC Land Services (money Sacomreal-S, a real estate distribution company), told reporters that there are many reasons why real estate prices will be hard to fall or remain unchanged next year because of the effect of three basic reasons:
The method of calculating the land use fee has changed if the new land use calculates the land price will increase quite a lot. Once land use fees increase, it is likely that real estate development costs will increase.
Construction materials and labor will fluctuate in 2018, from mid-2017, the price of building materials increased continuously. By 2018, material prices will increase by at least 5-10%, causing construction costs to bounce higher. In addition, labor costs are also adjusting for wage increases, at least 10-20%
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