Hanoi’s condominium market witnessed a great growth during the lastquarter of 2014 with 7,200 apartments from 16 projects offered,reported CBRE Viet Nam Company Ltd., a foreign property serviceprovider.

Accordingly, total condominiums for sale amounted to 16,200 in the full year, more than doubling that of 2013.

In the fourth quarter of 2014 alone, 3,990 condominium transactionswere successful, 48 percent of which came from the mid-end segment and37 percent from the low-end segment. With this, a total of 10,700apartments were sold during the year, rising 60 percent year on year.

Nguyen Hoai An, senior manager of CBRE Vietnam's Hanoi branch, saidresidential projects in urban districts continued to reel in buyers overthe last three months in 2014 with highest price increase recorded inthe high-end segment.

CBRE experts forecast the capital’sproperty market, including the condominium market, will maintain itsmomentum in 2015, particularly in the high- and mid-end segments.

The growth is expected to be contributed by the amended Law onHousing which will take effect on July 1, 2015, with regulationsallowing foreigners and Vietnamese people residing abroad to hireand own real estate in Vietnam.-VNA