Vietnam’s housing market improves in Q2: report

Thanh Nien News

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An apartment complex in Ho Chi Minh City. Photo: Thanh Nien An apartment complex in Ho Chi Minh City. Photo: Thanh Nien

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The apartment markets in Hanoi and Ho Chi Minh City showed positive signs in the second quarter, property consultancy company Savills Vietnam has said.
In the capital city, the total primary apartment stock was 17,370 units, up 7 percent over the first quarter and 29 percent year-on-year. There were approximately 6,000 deals, an increase of 30 percent over the same period last year.
In Ho Chi Minh City, 19 new projects and fresh supply from an existing project added more than 8,700 units for an increase of 15 percent over the first quarter. There was strong absorption across all segments, with over 6,900 sales, up 34 percent year-on-year.
According to Savills, from the third quarter this year to 2018, over 35,000 units are expected to enter the market in the southern metropolis. Some developers have begun making strategic movements toward denser populated districts in the west of the city.
Savills' data painted a different picture from what other companies may have suggested. CBRE Vietnam last week said sales dropped by 35 percent quarter-to-quarter to 5,887 units in HCMC and by 7.2 percent to 4,806 units in Hanoi.

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