Leading house leads the real estate market in Saigon

19/11/2017   Viewed: 775
In the past nine months, affordable housing (mid-end and low-end segment) accounted for 74% of the total basket of offered units.
HCMC Real Estate Association has released a report summarizing the commercial housing market of the city in the first 3 quarters of 2017. Currently, Saigon has 61 housing projects formed in the future by the HCM City Department of Construction Get qualified to mobilize capital. In over 60 projects, there were 28,639 units (including 25,320 apartments, 3,319 low-rise houses), with a total value of VND 61,102 billion.

In particular, the high-end segment has 7,451 units, accounting for 26%, the middle segment has 13,976 units, accounting for 48.8%, the segment has 7,212 units, accounting for 25.2%. Thus, the proportion of affordable apartments (medium and low cost) accounted for the largest proportion, accounting for 74% of total apartments launched in the first 9 months.
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Affordable housing in HCMC is occupying a remarkable proportion of the total market supply but still can not meet all the great needs of the people. Illustration

This is a good sign because investors and businesses have been flexible and active in restructure their products in the direction of increasing the number of small and medium sized apartments (1-2 rooms sleep).

Although the basket of affordable housing is dominating the market, the association believes that the current supply of affordable housing has not met the huge demand of the majority of urban residents. These include: government officials, civil servants, armed forces, workers, students, low-income urban residents and migrants.

In general, the real estate market in the first nine months of 2017 is still in the recovery cycle - but growth has just begun to show a slowdown. Compared to 2016, the last few quarters have shown signs of risk factor.

HCMC Real Estate Association predicts that in the period 2017 - 2020, the housing market in Saigon will have a big adjustment to find a healthy and sustainable development. In the new trend, the market will continue to have a strong shift to low-cost, competitive housing to meet the real needs of the majority of low-income urban residents.

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