Apartments continue to lead the market.

With a projected sales volume of approximately 30,000 units in Q4 2024, apartments continue to be the leading segment in the Southern real estate market; followed by townhouses with around 5,000 units…

Apartments will continue to attract the attention of customers and investors in the fourth quarter of 2024. (In the photo: Customers attending a project launch event in Ho Chi Minh City. Photo: Le Toan)

Apartments will carry the entire market in the last quarter of the year.

According to a report from DKRA Group's market research department, in August 2024 alone, 12,092 apartments were launched in the southern provinces, an increase compared to July, mainly concentrated in Binh Duong and Ho Chi Minh City. Specifically, Ho Chi Minh City accounted for 58% and Binh Duong for 37% of the total primary supply in the entire market.

Demand increased, with primary sales reaching nearly 800 units in August, a 36% increase compared to the previous month. The majority of this was recorded from projects currently on sale in Binh Duong (accounting for 54% of total primary sales across the entire market).

According to DKRA Group, many projects began their marketing campaigns in September to prepare for sales launches. Therefore, the supply of new properties in September and the fourth quarter of 2024 is expected to show significant improvements.

According to a market survey conducted by reporters from Investment Newspaper, many businesses are in the preparation phase, ready to launch projects in the last quarter of the year.

Specifically, in Ho Chi Minh City, Vingroup announced that from October, it will officially launch the Opus One subdivision at Vinhomes Grand Park urban area (Thu Duc City). During this launch, Vingroup will introduce 2,000 apartment units.

Also in Thu Duc City, the Eaton Park project (covering 3.7 hectares, comprising 6 apartment blocks with 2,052 units) is currently on sale.

In the southern part of Ho Chi Minh City, Khai Hoan Land Group is launching the Khai Hoan Prime apartment complex. This is Khai Hoan Land's first apartment project, built on an area of ​​nearly 20,000 m2, with 3 apartment towers: Vinci Tower, 27 stories high, comprising 569 apartments; Mika Tower, 25 stories high, comprising 360 apartments; and Gali Tower, 27 stories high, comprising 328 apartments.

The most vibrant market activity comes from Binh Duong province, with approximately 20 apartment projects announced for launch in the fourth quarter. Notable projects include Phu Dong Skyone by Phu Dong Group with 780 apartments, and TT Avio with 2,000 apartments… Developer Bcons also plans to bring approximately 3,000 apartment units to the market in the fourth quarter of 2024.

In October, the Ben Hill Thuan An project, with 800 apartments, is expected to be launched onto the market. The Orchard Hill apartment project, built on an area of ​​1.1 hectares and comprising two 24-story towers offering 774 apartments, is also anticipated to go on sale in the next quarter.

Recently, Phat Dat Group announced the launch of two projects in November. These include the Thuan An 1 high-rise mixed-use residential project, with a total investment of over VND 6,000 billion, developed on a land area of ​​18,146.7 m2, with a maximum height of 39 floors, expected to provide approximately 3,133 apartments. The Thuan An 2 high-rise mixed-use residential project covers an area of ​​26,530.7 m2, with a maximum height of 39 floors, providing approximately 3,500 apartments and 17 shophouses.

In addition, the list of projects preparing to be introduced to the market in Thuan An City also includes the A&T Sky Garden Project (comprising 2 towers with 40 above-ground floors and 2 basement floors, a total construction floor area of ​​106,895.3 m2, supplying 946 apartments to the market); the Setia Gardens Residences Project (comprising 3 apartment towers with 26 above-ground floors and 2 basement floors, supplying 865 apartments to the market)...

In the Long An market, after many years without new apartment projects, several new projects are expected to be launched in the coming quarter. Among them is the Destino Centro project, covering approximately 2.7 hectares, comprising 5 blocks of 20-story apartments with over 2,000 units.

On the business side, Nam Long Group announced it will launch approximately 5,000 EHome Southgate apartments; Cat Tuong Group is actively completing the legal procedures to launch the Cat Tuong Phu An project at the end of the fourth quarter, comprising 5 blocks of 17-18 floors, providing the market with 1,652 apartments ranging in size from 37 to 88 m2; Thang Loi Group also plans to launch a social housing apartment project at the end of the fourth quarter in Ben Luc district.

For the townhouse, land plot, and resort segment, according to DKRA Group's data, in August 2024, the southern provinces saw the launch of 88 townhouse projects, supplying 4,466 units to the market, a decrease of 8% in product volume compared to July 2024. Sales reached only 207 units, a decrease of 48% compared to July 2024.

Meanwhile, the land plot segment also saw the emergence of new projects, but the number of products was only below 1,000, and transactions were quite slow. The resort real estate segment saw 2,907 products launched onto the market in August 2024, but no transactions were recorded.

What will happen to house prices?

According to Mr. Vo Hong Thang, Director of the Real Estate Market Research Division at DKRA Group, primary and secondary market prices have not fluctuated significantly. Transactions are concentrated in mid-range projects priced at 45-60 million VND/m2 in Ho Chi Minh City and 30-35 million VND/m2 in bordering areas, with complete legal documentation and rapid construction progress. The apartment market in Ho Chi Minh City recorded the highest prices, reaching nearly 500 million VND/m2.

"In the fourth quarter, apartment prices will not increase because developers are not raising prices in the short term. Towards the end of the year, they will focus on sales and offering the best payment policies to boost product consumption," Mr. Thang commented.

In her overall assessment of the real estate market in the South, Ms. Nguyen Thi Thanh Thao, Sales Director of Phu Dong Group, stated that the market is showing many positive signs and liquidity is improving. The continuous offering and introduction of projects by developers indicates positive signals from the market.

In addition, Ms. Thao emphasized that the apartment segment has consistently attracted a large number of investors and those seeking a place to live for many years. Previously, buyers had a speculative mindset seeking immediate profits, but after a period of market stagnation, customer sentiment has changed. They now choose products with stable legal status and reputable developers.

Presenting a scenario for the housing market in Ho Chi Minh City from now until the end of the year, Ms. Thao predicted that the new supply will improve towards balance. There are two positive supporting factors for the market.

Firstly, there is an increased supply of social housing and affordable to mid-range apartments to serve people with middle to above-average incomes.

Secondly, Ho Chi Minh City is focusing on boosting public investment. In its report for the first eight months of the year, the Ho Chi Minh City Statistics Department assessed that the Land Law, effective from August 1, 2024, will have a positive impact, resolving difficulties and obstacles, unlocking land resources, and accelerating the compensation and land clearance process for projects in the coming period…

“In my opinion, the segment that will attract the most customer interest in the last months of the year is the product line priced under 2 billion VND, located in apartment projects. For townhouses, products priced under 3 billion VND, located in projects with good transportation infrastructure, will see high sales. Land plots and resort real estate are unlikely to see significant activity in the fourth quarter,” Ms. Thao commented.

Source: https://baodautu.vn/batdongsan/chung-cu-tiep-tiep-dan-dat-thi-truong-d225419.html