Ministry of Construction: The market has almost no apartments priced at 25 million VND/m2

(Dan Tri) - According to the Ministry of Construction, in the market segment of affordable apartments with selling prices below 25 million VND/m2, there are almost no transactions and products for sale.

Apartment prices in some areas increased locally by 40%

The Ministry of Construction’s recently released report on housing and real estate market in the third quarter showed that the number of successful transactions of apartments and individual houses reached 38,398 products, up 48% compared to the previous quarter. The number of successful land transactions reached 102,966 products, down nearly 18% compared to the second quarter.

Regarding prices, apartment prices in Hanoi continued to increase in both new and old projects, with new project prices increasing by about 4-6% quarterly and 22-25% annually. Apartment prices also increased, especially in some areas, increasing locally by about 35% to 40% depending on the location compared to the previous quarter.

The affordable apartment segment with a selling price of less than VND25 million/m2 has almost no transactions and products for sale. Mid-range apartments with prices from VND25 million/m2 to less than VND50 million/m2 still account for a high proportion of transactions and supply in the market. The rest are luxury and super luxury apartments (with prices above VND50 million/m2).

According to a survey by the Ministry of Construction in Hanoi, some apartment projects such as Vinhomes Ocean Park in The Zurich subdivision cost about 46-55 million VND/m2; Lumi Prestige costs from 69 million VND/m2; The Ninety Complex costs about 60-75 million VND/m2; The Sapphire - Vinhomes Smart City costs about 47-61 million VND/m2; The mixed-use residential area 107 Nguyen Tuan Vihacomplex costs about 75-97.2 million VND/m2; Khai Son City project costs from 50-68 million VND/m2...

An apartment project in Hanoi (Photo: Ha Phong).

In Ho Chi Minh City, there are apartment projects such as Diamond Centery priced at 61-73.3 million VND/m2; Stown Tham Luong priced at 29.8-43.5 million VND/m2; Urban Green priced at 52-59.7 million VND/m2; Glory Heights - Vinhomes Grand Park priced at 40-80 million VND/m2; The Aurora Phu My Hung priced at 88-90 million VND/m2; The Beverly Solari - Vinhomes Grand Park priced at 46.83-65.6 million VND/m2...

The selling price of apartments of some prominent projects in other localities such as Lumiere Spring Bay in Hung Yen is about 60-73 million VND/m2; Green Tower Di An (Binh Duong) is about 50-60 million VND/m2; Central Park Residences (Nghe An) is about 32-45 million VND/m2; Grand Mark Nha Trang (Khanh Hoa) is about 45 million VND/m2.

Prices of villas and townhouses in Hanoi increase, in Ho Chi Minh City decrease

Regarding villas and townhouses in the project, according to the Ministry of Construction, in the third quarter, this segment had a large amount of cash flow from long-term investors and real buyers, and transactions were still strong.

Specifically, in Hanoi, the selling price of villas and townhouses in projects tends to continue to increase compared to the previous quarter. Most of the newly launched projects in this quarter are in favorable locations, located in areas with strong investment in infrastructure, so the primary asking price is relatively high.

A project of townhouses and villas in the suburbs of Hanoi (Photo: Duong Tam).

The average secondary selling price of landed properties in Hanoi last quarter reached around VND160 million per square meter, up 3% quarter-on-quarter and nearly 7% year-on-year. Some projects in areas such as Dong Anh and Long Bien had higher secondary price increases (around 5%) quarter-on-quarter, thanks to infrastructure development and products of new projects that are gradually being completed.

In Ho Chi Minh City, according to a survey by a number of market research organizations, the average primary price of the villa and townhouse segment in the project is almost stable. However, there are some areas in the high-end segment where prices have decreased sharply by about 14% quarterly and 28% annually. Products priced under VND10 billion had quite good transactions in the quarter.

According to the Ministry of Construction, the reason is that new projects in suburban areas have prices lower than the city's average, which shows that demand for well-priced products is still strong, despite being located in suburban areas and far from the city center.

Source: https://dantri.com.vn/bat-dong-san/bo-xay-dung-thi-truong-gan-nhu-khong-co-chung-cu-gia-25-trieu-dongm2-20241031013433474.htm