Due to the young and active population and the development phase of industrialization, the real estate market in Vietnam has been changing significantly. Meanwhile, the apartments are becoming the popular choice of the Vietnamese, the projects of single-family houses, duplex, or townhouse are the lacks in the market.
In 2017, the housing market in Ho Chi Minh City and Hanoi continued developing the 2016 success. In both cities, 66,000 apartments were offered and 59,000 apartments were consumed. The high-rise buildings in the large urban areas were attractive to a lot of people, especially Vinhomes Times City in Hanoi or Phu My Hung in Ho Chi Minh City, which is predicted to be the upcoming trend of the industrial development in 2018 and 2019.
Ho Chi Minh City: Vincity, What Are Hot?
There are 31,000 apartments sold in Ho Chi Minh City in 2017, which decreased by 19% compared to the 2016 amount. Among 31,000 apartments, 64% of them are the middle-class segment; meanwhile, the upper-class segment accounted for 21%; and the 1% left was the high-class. For the first time within the current five-year period, the number of apartments sold in Ho Chi Minh City is higher than the number of new offers, with 20,200 units sold in the middle segment.
Generally, the sales in 2017 were favorable, although the total sales are down compared to 2016. Along with the positive macro economies, the primary price in 2017 continued its upward trend, with average growth of 3%. Additionally, the price-increase rate of the middle segment is highest, reaching 5%.
Hanoi: The Domestic Enterprise Are Kings
In 2017, there were 35,000 apartments offered by the domestic investors, which set a new supply record. Among those 35,000 apartments, there were 22,000 apartments, accounted for 64%. The middle segment was the majority of the pie, which signaled that the buyers are paying more attention to the real value of the property.
This year, 2018, the amount of units sold is forecast to reach 28,000 units located in the prime location of the capital of Vietnam, such as Dong Da and Ba Dinh District. Therefore, the primary price of the high-class segment is going to increase by 3-5% compared to 2017.