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Exciting times predicted for Hanoi's landed property segment

Released at: 13:43, 06/01/2018

Exciting times predicted for Hanoi's landed property segment

Photo: Ngoc Lan

Latest CBRE report notes high level of upcoming activity in Hanoi's landed property segment this year.

by Ngoc Lan

The first quarter of 2018 is expected to be a very exciting time in Hanoi’s landed property segment, with many large-scale projects to open for sale, according to the latest report from CBRE Vietnam.

In the fourth quarter of 2017, the landed property segment in the capital welcomed new launches of 444 units, of which 73 per cent were townhouses. Four new projects have also been identified, including two in Long Bien district, and the Lakeside Splendora (BT5) in Hoai Duc district and Athena Fulland Dai Kim in Hoang Mai district.

A total of 4,178 villas, shophouses, and townhouses opened for sale in Hanoi during 2017. The west and south of the city dominated in terms of new supply, accounting for 72 per cent of the total.

Hanoi’s landed property market in the fourth quarter saw sales of 1,142 units, up 48 per cent quarter-on-quarter but down 71 per cent year-on-year due to new supply increasing significantly in the third quarter.

Since the beginning of 2017, Hanoi’s landed property segment saw sales of over 4,800 units, of which the west had the highest proportion, of 64 per cent. The east followed, with about one-fifth of all sales.

In the fourth quarter, the average primary sale price of villas and townhouses was $3,600 per sq m, down 2 per cent quarter-on-quarter. Meanwhile, the average secondary sale price was $3,778 per sq m, up 3.5 per cent year-on-year.

The first quarter of 2018 is expected to see many large-scale projects being launched, including the Starlake project’s second phase, Gamuda Phase 4 - Dahlia Homes, and Him Lam Shophouse.

There will be new projects in the east of Hanoi in the time to come, especially with new bridges across the Red River expected to improve traffic and infrastructure in the area, attracting the attention of investors and homebuyers.

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