Housing transactions in Hanoi last year hit a record 21,100, surpassing the sector’s peak in 2009, according to property service provider CB Richard Ellis (CBRE) Vietnam .
Hanoi (VNA) – Housing transactions in Hanoi last year hit a record 21,100, surpassing the sector’s peak in 2009, according to property service p♛rovider CB Richard Ellis (CBRE) Vietnam .
High-end apartment transactions accounted for 32 percent of the total, up from 20 percent in previous years.
According to CBRE, a number of property investors have sped up delayed projects. Several apartment projects have been restructured in both size and price in accordance with market demands.
The mid-end and low-cost apartment transaction rate was down compared to 2014, however, it still accounted for a large share of the total sales due to reasonable pricing.
In 2015, about 28,300 apartments were put on the market in Hanoi , up 70 percent compared with the previous year.
High-end apartments accounted for 28 percent of the total share compared to the peak of 21 percent in 2009.
In terms of location, new properties from Hoang Mai and Hai Ba Trung districts accounted for nearly 50 percent of the total, while the city’s western and south western parts accounted for a more modest 46 percent.
Average prices of new projects increased by 3-5 percent year-on-year, and even the prices rose about 5-7 percent for high-end projects, said Nguyen Hoai An, CBRE Vietnam’s Vice Director.
Experts agreed that since the amended Housing Law came into effect on July 1 last year, interest from foreign buyers in high-end projects in Hanoi and Ho Chi Minh City has increased.-VNA
Hanoi’s condominium market witnessed a great growth during the last quarter of 2014 with 7,200 apartments from 16 projects offered, reported CBRE Viet Nam Company Ltd., a foreign property service provider.
Experts at foreign property consulting firms expect the property market in Hanoi to rebound strongly this year, owing to robust sales of apartments during the last quarter of 2014.
The retail market in Hanoi is still attractive for investors, even though it has experienced business impediments during the past, a Hanoi Industry and Trade Department official said.
The revival of the housing market has had a positive impact on the prices of shares of property companies, according to the Vietinbank Securities Company.
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Illustration photo. (Photo: VNA)
