CBRE: Hanoi real estate prices are expected to increase more than Ho Chi Minh City in the coming years.

DNVN – According to Mr. Vo Huynh Tan Kiet, Director of CBRE Vietnam’s Housing Marketing Department, currently real estate prices in Hanoi are almost equal to those in Ho Chi Minh City, and are even expected to increase in the coming years.

On October 24, the workshop "Southern real estate overcomes challenges and seizes opportunities" by CafeLand took place in Ho Chi Minh City.

According to Mr. Vo Huynh Tan Kiet, Director of CBRE Vietnam's Housing Marketing Department, in 2024, there will be many fluctuations in comparison with personal investment channels such as gold, foreign currency, real estate, etc. However , real estate is still a channel that many investors are interested in.

Mr. Vo Huynh Tuan Kiet, Director of Housing Marketing Department, CBRE Vietnam, presented at the workshop.

“ There is a clear difference in the two major cities of Hanoi and Ho Chi Minh City. In the third quarter of 2024, the new supply in Hanoi was 8,277 products, while in Ho Chi Minh City there were only 127 new products for sale , the lowest compared to the past 10 years ,” said Mr. Kiet.

According to Mr. Kiet, with the supply from Ho Chi Minh City still very limited, the room and opportunity to create price increases will not be high. From now until the end of the year, the Ho Chi Minh City market will still maintain an average price fluctuating from 2-3%. However, in Hanoi, the price is already high from 5-6%, so it is possible that it will surpass Ho Chi Minh City.

Regarding selling prices, whether supply increases or decreases, prices still tend to increase. The average price increase in Ho Chi Minh City is currently around 66 million VND /m2 , while in Hanoi it has reached 64 million VND /m2 . Normally, compared to the past, the Hanoi market is always about 10-15 million lower than Ho Chi Minh City, but currently Hanoi is almost equal to Ho Chi Minh City, and is even expected to increase more than Ho Chi Minh City in the coming years.

Therefore, Mr. Kiet's advice to individual investors is to choose products with real development potential , prioritize choosing projects with clear legal status, safety , and be cautious with the rapid price increase trend of the market ...

Mr. Su Ngoc Khuong , Senior Director of Savills Vietnam Investment Department , commented that from the perspective of investors, there is no perfect investment market . For a developing market like Vietnam, investors are very interested in GDP economic growth rate, second is the exchange rate, third is related to the issue of average income per capita.

The advantage of Vietnam's real estate market is still a story of policy safety, with continuous growth of more than 6% over the past 10 years, which is the story that foreign investors are aiming for.

“ I think that in order for the Southern real estate market to overcome difficulties, it is expected that the Ho Chi Minh City master plan will be approved soon. This is a major issue that many investors are interested in. Because the Ho Chi Minh City master plan plays an important role in implementing infrastructure, greatly affecting the regional economy ,” Mr. Khuong emphasized.

Vinh Yen

Source: https://doanhnghiepvn.vn/kinh-te/cbre-du-kien-gia-bat-dong-san-ha-noi-con-tang-hon-tp-ho-chi-minh-vao-nhung-nam-toi/20241024064259928