The housing market in Vietnam at the end of 2017 has many positive changes

11/02/2018   Viewed: 748
In Vietnam, the housing market in Hanoi and Ho Chi Minh City is considered as the biggest growth market in 2017.
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Intersection of Pham Hung and Duong Dinh Nghe, Tu Liem District, Hanoi, Vietnam (source: Shutterstock)

According to the latest quarterly market update from Jones Lang LaSalle, Ho Chi Minh City has achieved sales targets for the number of flats and villas sold in the last quarter of 2017, even after launching new markets. In the middle segment also achieved high.

Specifically, the number of villas and apartments sold in Ho Chi Minh City is 2,139, the fourth quarter of 2017, the highest since 2000. Of the 16,181 apartments sold in the city, more than half are priced between $ 1,000 and $ 2,000 per square meter.

The demand for housing in the mid-end segment and affordable housing has also increased in the two major cities, with the number of apartments in the mid-end segment being 15,193 units, accounting for 45% of total units. Launched in the fourth quarter of 2017, an increase of 71.2% over the fourth quarter of 2016. Housing projects in this segment accounted for 80.4% of the total new projects launched.

Prices in the primary market are also rising in both cities, with average prices increasing 1.3% compared to Q3 in Hanoi, 1.7% in Ho Chi Minh City. The number of newly launched projects has also increased in Hanoi, with significant consumption recorded in the primary market segment. More than 9800 apartments sold in Hanoi's main market, up 7.3% compared with Q3.

The real estate market in Vietnam has seen positive changes in the past year, with GDP growth of 6.8% compared to 2016, exceeding government forecasts of 6.7%, surplus trade is $ 2.7 billion. Total foreign investment FDI in Vietnam in 2017 reached 35.9 billion USD, up 44.4% compared with 2016.

It is forecasted that in 2018, housing demand in Vietnam's two major cities, Hanoi and Ho Chi Minh City, will continue to grow strongly.

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