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Villa is adjacent in District 9, Ho Chi Minh City

The East leads the volume of transactions adjacent villas of the whole city. HCM

According to the Savills report, in the first quarter of 2017, the eastern districts accounted for 74% of the total number of adjacent villa transactions, especially District 9 accounted for 49% of the total sales of the city.

Specifically, in the first quarter 2017, the whole city. Ho Chi Minh City has 7 new villas / townhouses, supplying about 590 units, bringing the total primary stock to 2,600 units, down 14% quarter on quarter but up 25% year on year.

The East leads the volume of transactions adjacent villas of the whole city. HCM
The East leads the volume of transactions adjacent villas of the whole city. HCM

Absorption rates are 34%, up 1 percentage point on a quarterly basis and 12 percentage points on a yearly basis. The majority of transactions come from new open-ended projects with effective marketing strategies and on-going status quo.

Trading volume was 880 units, down 11% quarter on quarter but up 94% year on year. Eastern Districts accounted for 74% of total transactions, especially District 9 accounted for 49% of the total number of units sold this quarter of the city.

There are 6 new open-plan projects and 1 open-sales project, providing 710 platforms. Total primary stock reached 2,100 units, down 13% quarter-on-quarter and 53% year on year.

About 910 transactions were made in the quarter, down 12% quarter-on-quarter and 23% year-on-year.

For the segment of apartments sold, in the quarter about 5,200 new apartments are open for sale, down 47% quarterly.

Total transaction volume also dropped 13% (reaching 8,800 units). Interestingly, while Class B transactions declined by 35%, Grade C increased by 10% quarter-on-quarter.

Market absorption was about 21%, down 1 percentage point quarter-on-quarter due to lower absorption rates from the A and B segments. The western districts of districts 6, 8, Tan Phu and Binh Tan were middle of the popular segment.

Savills forecasts future supply from the second quarter 2016-2019 at about 62,200. District 2 and District 7 continued to occupy the future supply with about 21% market share.

Grade C apartments have good absorption rates in the HCMCGrade C apartments have good absorption rates in the HCMC

For the serviced apartment market, a new Grade C project in Tan Binh district has provided 65 apartments for the market, bringing the total supply of serviced apartments in the city. HCM reached 4,600 units, up 2% quarterly and 6% year on year.

Average occupancy also increased by 5 percentage points year-on-year, reaching 87%. The average rent has a corresponding increase (5 percentage points per year). Grade A Averages 32 USD / month, stable on a quarterly basis and up 4% on a yearly basis; Class B 26 per month, up 1% on a quarterly basis and 3% on a yearly basis; Class C $ 17 per month, up 1% on a quarterly basis and 7% on a yearly basis.

Savills said that from Q2 / 2017 to 2019, 12 projects providing more than 1,800 serviced apartments are expected to enter the market and the center will account for 53% of total future supply. In the first nine months of 2017, there will be 540 units entering the market.

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