Ho Chi Minh City: The rising price of apartments is still “sold out”
Accordingly, the average selling price of the whole market has increased by 27% over the same period last year. The selling price is high, but the consumption rate remains stable, even increasing. Especially the area that accounts for a large percentage of supply like Thu Duc City. This place recorded the most demand for apartments in the first quarter.
One floor real estate transaction said that from the beginning of the year until now, the demand for apartments has increased by about 30% compared to the end of last year. In which, the demand is mainly concentrated in Thu Duc city. Increased transactions come not only from investment but also from real demand.
“Outstanding in recent times is that customers have need to buy a house accommodation for children with learning needs to live and work long-term in Ho Chi Minh City. Especially Thu Duc city, where many universities are concentrated. Moreover, there are many export processing zones and industrial zones here, so this is a very convenient place for professionals to live and work”, said Mr. Pham Duy – General Director of Truly Homes Real Estate Company.
In the first quarter, Ho Chi Minh City only had 4 apartment projects opened for sale, down 5% compared to the same period last year. Supply mainly comes from large-scale urban areas in Thu Duc City. Flexible payment policy from the investor is one of the factors that make transactions increase.
Ms. Le Thi Tinh – Director of Saigon House Real Estate Joint Stock Company said: “They only need to pay 20% to own an apartment and receive housing immediately, helping those with financial difficulties. In addition, with the mega-urban project, utilities such as schools, hospitals, and commercial centers are ready for them to be ready to live in and serve their immediate living needs. instantly”.
Currently, the average price of apartments in Ho Chi Minh City is more than 75 million VND/m2, up 8% QoQ and up 27% YoY. The selling price is high but demand continues to be stable with more than 2,300 units sold in the first quarter. With the advantage of land fund and infrastructure, Thu Duc City continues to attract investors to create housing projects. .
“Thu Duc City is a place where we think that the land fund is still abundant for investors to develop integrated projects on a larger scale and provide more utilities for buyers. At the same time with perfection. and infrastructure investment that the Government focuses on completing the Ring Road 3, also makes it easier to move from the suburbs to the center,” said Ms. Bui Nguyen Huyen Trang – General Director of Cushman & Wakefield Vietnam commented.
Forecasts from market research units, by the end of this year, the supply of apartments in Ho Chi Minh City will mainly come from the central districts and focus on the mid-range and high-end segments.
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