Friday, 19 Jan 2018

Number of apartments for sale in Hanoi at five-year high

Updated at Thursday, 04 Jan 2018, 16:22
The Hanoitimes - Nguyen Hoai An - director of Research Segment of CBRE Vietnam put it during a recent news conference.
According to survey data from CBRE, the year 2017 witnesses numerous remarkable milestones with the highest GDP since 2008.
Positive macro factors have a positive impact on the real estate market. Remarkably, only in Quarter 4, 2017, there are nearly 9,500 new apartments, raising the total apartments for sale in the year to over 35,000, increasing by 16% over the same period last year. Number of apartments for sale in Hanoi reached a record over the past 5 years.

Amount of apartments for sale in Hanoi during 2017 reachs over 35,000
Amount of apartments for sale in Hanoi during 2017 reachs over 35,000

It is worth noting that with the improvement of infrastructure and the expansion to urban area, there are two new projects launched in Dong Anh district. The middle-class segment continues to dominate the market with a total of 80% of new apartments during the year.
As the new supply is still plentiful and the market trend to middle-class segment, the primary price level has not increased. By 2017, the average primary market price is $ 1,344 / m2, reducing by 2.4%
Offers were also good with more than 23,000 successful deals in 2017, increasing by 12% compared to the same period last year.
Representatives of CBRE forecast that in the coming years, positive macroeconomic fundamentals will continue to motivate the housing market in general and the apartment market in particular. With the development of market, investors must professionalize the sales staff and improve marketing activities to compete.
"The year 2018 is expected to witness a clear division between the segments, with high-end projects appearing in center, while investors in the lower segments will have to improve under competitive pressure", she said.
Cam Anh
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