(CLO) PropertyGuru Vietnam's report on the real estate market overview and apartment market focus has attracted attention when it shows that the luxury and super luxury apartment segment with prices ranging from VND80 million/m2 to billions of VND/m2 is attracting the attention of rich people in Hanoi.
According to Mr. Nguyen Quoc Anh, Deputy General Director and Business Director of PropertyGuru Vietnam, Hanoi leads in the percentage of people searching for luxury and super luxury apartments in 2024. Specifically, Hanoians account for 43% of the total number of people looking to buy luxury and super luxury apartments; while Ho Chi Minh City accounts for 33%, Dong Nai 1%, Da Nang 1%, Hai Phong 2%, and other provinces 20%.
According to the structure of apartment buildings in major cities in the third quarter of 2024, affordable apartments (selling price under 35 million VND/m2) account for 1%, mid-range apartments (selling price 35 - 55 million VND/m2) account for 32%, luxury apartments (selling price 55 - 80 million VND/m2) account for 45%, luxury and super luxury apartments (selling price from 80 million VND/m2 or more) account for 22% of the total apartment supply. Prominent in the luxury and super luxury apartment segment are branded products priced from several hundred million VND/m2 to billions of VND/m2.
Illustration photo. (Source: ST)
In Hanoi, the proportion of luxury and super luxury apartments in the total apartment supply increased from 2% (quarter I/2020) to 22% (quarter III/2024). Meanwhile, in Ho Chi Minh City, this proportion also increased from 5% to 23%.
In addition, from the first quarter of 2020 to the third quarter of 2024, the proportion of luxury apartments in the total apartment supply in Hanoi also increased rapidly from 4% to 45%. Similarly, in Ho Chi Minh City, the proportion of luxury apartments also increased from 23% to 28%.
Forecasting the real estate market nationwide in the coming time, Mr. Quoc Anh commented that from now until the first quarter of 2025, the market will continue to be in a consolidation phase, buyers will still focus on real housing needs, the most chosen products are private houses and townhouses.
Market development in this period depends largely on project legality, funding sources and monetary policy.
"From the second quarter of 2025 to the fourth quarter of 2025, the real estate market will enter a period of prosperity, with demand for buying and selling focusing on land plots and project villas. And from the first quarter to the fourth quarter of 2026, the market will enter a stable cycle, with liquidity increasing in all types," Mr. Quoc Anh predicted.
According to data from PropertyGuru Vietnam, apartments are a type of property with a fairly stable growth in interest, sales price, and rental price in the period 2021-2024. The level of interest and search for apartments has remained high in recent years, while sales price and rental price have increased.
The average apartment selling price in the first quarter of 2021 is 35 million VND/m², the rental price is 10 million VND/apartment. By the third quarter of 2024, the average apartment selling price will increase to 51 million VND/m², the rental price will be 12 million VND/apartment.
In the Northern market, the level of interest in buying apartments in recent years has increased more strongly than in the Southern region.
Source: https://www.congluan.vn/gioi-nha-giau-ha-noi-dang-san-mua-chung-cu-hang-sang-sieu-sang-post321320.html
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