Apartment market continues prospering in HCMC

Thirteen new projects and new phases of four existing projects have been opened for sale in Ho Chi Minh City by the third quarter this year with over 9,550 apartments, a quarter on quarter increase of 4 percent and year on year hike of 107 percent.

(Photo: SGGP)

That is from a survey on the HCMC real estate market of Savills Vietnam Group.

According to the survey, the primary market had about 30,500 apartments at the end of September. Of these, around 5,220 apartments were traded, up 4 percent by quarter and 59 percent by year.

53 percent of the transactions were apartments in districts 2, 7 and Binh Thanh.

About 57,500 apartments from 92 existing projects were forecast to enter the market from the fourth quarter this year till 2017, the survey said. About 33 percent of the supply source would be built in 2015-2016.

By Ha Van – Translated by Hai Mien

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