For instance, the number of housing project decreased by 11.1 percent and the number of houses sold in market dropped by 39.2 percent. High-end, mid-range and cheap apartments have seen a decline of 9.6 percent, 37.5 percent and 68 percent respectively.
Specifically, just 23,759 houses of 65 projects were built in ten months with 7,444 high-end houses; 11,731 mid-range houses and 4,584 cheap houses
From the figure, HoREA said the supply of high-end houses is abundant in the next time. Imbalanced supply doesn’t guarantee the sustainable development for the market with low proportion of cheap houses.
Investors should re-consider their products and there will be fierce competition in the high-end house.
HoREA added that deluxe apartment projects in downtown enjoy exclusive right because city authorities decided not to approve high-rising building projects from now to 2020.