12:21 (GMT +7) - Sunday 24/09/2017

Property

Savills: HCMC Q2 apartment transactions highest since 2011

Released at: 14:10, 13/07/2017

Savills: HCMC Q2 apartment transactions highest since 2011

Photo: Khanh Chi

Liquidity in city's apartment segment at highest level for some years, according to Savills' latest report.

by Hong Nhung

Four new projects and the next phase of seven active projects were launched, providing over 4,700 units, while available apartments across all grades were down 12 per cent quarter-on-quarter and 7 per cent year-on-year at around 37,200 units, according to the Savills’ Q2 report on the Ho Chi Minh City real estate market.

Sales growth rose 33 per cent quarter-on-quarter and 67 per cent year-on-year, with the approximately 11,600 transactions being the highest since 2011.

Impressive Grade B and C performance increased 10 ppts quarter-on-quarter and 13 ppts year-on-year, with 31 per cent absorption. Grade C saw the highest absorption, at 37 per cent, and accounted for 64 per cent of sales.

From the third quarter of this year to 2018, approximately 48,000 units are expected to be launched. Grade C is expected to see the highest proportion, with approximately 46 per cent.

In the townhouse and villa segments, one new project and new phases of seven existing projects provided approximately 390 dwellings. Primary stock was down 20 per cent quarter-on-quarter and 35 per cent year-on-year, to around 2,060 dwellings.

Total villa/townhouse transactions fell 14 per cent quarter-on-quarter and 6 per cent year-on-year. The absorption rate, due to limited new supply, was 37 per cent, up 3 ppts quarter-on-quarter and 11 ppts year-on-year. Townhouses continue to dominate the market with 85 per cent of sales.

In the land plot segment, District 9 continued to lead, accounting for 43 per cent of total sales. Land plots of 50-80 sq m were the most popular.

Stock from the second half of this year to 2019 will be approximately 11,500 dwellings and plots from 33 projects. Eastern districts, with more than 50 per cent of future supply, are expected to lead the market.

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