Interest and apartment prices continue to increase

According to the July 2024 market data recently released by Batdongsan.com.vn, the number of listings and the level of interest in the entire market recorded many positive signals with an increase of 7% and 6% respectively compared to the previous month. When compared to the same period last year, the level of interest in the real estate market increased by 26% and the number of listings increased slightly by 6%.

In terms of interest in each type, apartments are leading the market with an increase of 9% compared to June and 22% compared to the same period in 2023. In addition, other types also maintained a strong growth momentum with private houses (7% compared to the previous month, 32% compared to the same period), villas (6% compared to the previous month, 16% compared to the same period), land (6 compared to the previous month, 30% compared to the same period).

The market in July 2024 recorded positive signals with indexes increasing quite evenly.

Similarly, the number of listings also increased in all types, of which private houses and project land had the strongest increase in listings, at 9% and 8% respectively compared to the previous month. However, when compared to the same period in 2023, the number of listings of townhouses and villas was the type that recorded strong growth with increases of 15% and 12% respectively.

In the Hanoi market alone, the figures also show that the growth is continuing across all types. Of which, apartments are the type that recorded the strongest increase. Specifically, the level of interest and the number of listings in the for-sale market for this type of property are 13% and 4% respectively compared to the previous month. Meanwhile, in the rental market, the level of interest and the number of listings also increased by 18% and 7% respectively.

This increase is understandable because in recent times, apartments are a type of real estate that meets the real housing needs of many customers. Especially the affordable segment with the most sought-after prices. Notably, in the first month of the second quarter of 2024, the number of listings of segments that buyers are interested in all increased sharply compared to the previous quarter. In particular, the affordable segment (price under 30 million VND/m2, up 29%) and the mid-range segment (price from 30 - 50 million VND/m2, up 27%).

Apartments are still the type of property that receives a lot of attention because the demand for this type is quite large.

However, many opinions say that this growth figure does not assess the supply because the basket of products under 50 million VND/m2 in the Hanoi market is still scarce. One of the most important reasons for this problem is the increase in Hanoi's population to 160,000 people. While the new supply in 2024 is expected to reach only 22,000 apartments. The difference in supply and demand in this market also affects the selling price of the primary and secondary markets.

Similarly, in the Ho Chi Minh City market, the level of interest and the number of listings in the sale and rental market also continued to increase. However, the level of interest and the number of listings in the Ho Chi Minh City rental market increased more strongly in the types of apartments (up 24% and 11%), private houses (up 11% and 24%), boarding houses (up 27% and 24%),...

In the sales market, although the indexes increased slightly, they were consistent in all three segments with the level of interest increasing from 27 - 29%, the number of listings increasing from 22 - 26%. In particular, the selling price level in the high-end segment increased the most (3%), pushing the average selling price from 83.5 million VND/m2 to 85.6 million VND/m2.

Source: https://www.congluan.vn/muc-do-quan-tam-va-gia-ban-chung-cu-tiep-tuc-tang-trong-thang-dau-quy-iii-2024-post309660.html