ANTD.VN - While the demand for apartments is mainly in the affordable segment, the supply of new apartments in the two big cities of Hanoi and Ho Chi Minh City is more than 90% from the high-end segment, with projects costing up to 200 million VND/m2.
According to data from the Ministry of Construction, interest in apartments has shown signs of recovery in recent times. Demand for buying apartments increased by 1% in the third quarter of 2023 and for renting increased by 6% compared to the previous quarter. In particular, apartments priced from 2 to 4 billion VND are the most sought after; in major cities, there are signs of good absorption, concentrated in the apartment and housing segment priced under 10 billion VND in the central core area.
However, supply is still mainly concentrated in the high-end segment, causing transaction prices in the primary market to increase quite sharply.
Specifically, in Hanoi, in the primary market, the average selling price of newly opened apartments in the third quarter increased by nearly 7% quarter-on-quarter, increased by 14% year-on-year and reached about VND50.8 million/m2.
“The price adjustment is in an upward trend due to the overwhelming proportion of new supply in the high-end segment (over 90%). Along with that, some investors have adjusted prices upward and opened additional sales funds on higher floors,” said the Ministry of Construction.
In the secondary market, the average selling price maintained its upward trend from the previous quarter, reaching about VND32 million/m2, up 2.7% quarter-on-quarter and 0.8% year-on-year. All districts in Hanoi recorded an increase in secondary selling prices in the third quarter compared to the second quarter; in which, Dong Da, Thanh Xuan, Tay Ho, Nam Tu Liem and Gia Lam increased by over 3%.
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Apartment supply still mainly comes from the high-end segment. |
The supply of affordable apartments (with prices ranging from 25 million VND/m2 - 35 million VND/m2) can be mentioned as: Anland Premium Duong Noi project (Ha Dong district) with an offering price of about 31 million VND/m2, One 18 Ngoc Lam project (Long Bien district) with an offering price of about 27.5 million VND/m2, Eurowindow River Park project (Dong Anh district) with an offering price of about 25.2 million VND/m2; Phuong Dong Green Home project (Long Bien district) with an offering price of about 32 million VND/m2
Mid-range apartments (priced from about 30 million VND/m2 to under 50 million VND/m2) have projects such as: Moonlight 1 - An Lac Green Symphony project (Hoai Duc district) with an offering price of about 39 - 42 million VND/m2; Hoang Thanh Pearl project (Nam Tu Liem district) with an offering price of about 45 - 50 million VND/m2; Sakura subdivision of Vinhomes Smart City project (Nam Tu Liem district) with an offering price of about 43 million VND/m2; The Miami subdivision of Vinhomes Smart City project (Nam Tu Liem district) with an offering price of about 46 million VND/m2.
As for high-end apartments (with prices above 50 million), we can mention: TNR The Nosta project (Dong Da district) with selling price ranging from 60 - 75 million VND/m2; Han Jardin apartment project with selling price ranging from 51 - 82 million VND/m2; West B building in Mastery West Highs subdivision - Vinhomes Smart City (Nam Tu Liem district), selling price ranging from 61 million VND/m2.
In Ho Chi Minh City, the high-end apartment segment is also dominating, in which the number of newly launched apartments in the third quarter mostly comes from the next phase of existing projects. About 60% of new supply in the first 9 months of 2023 comes from an urban area project in the East. About 96% of new supply in the third quarter comes from the high-end segment and the remaining 4% of new supply is in the luxury segment, from the next phase of a project in Thu Thiem New Urban Area.
The primary selling price of the Ho Chi Minh City apartment market in the third quarter of 2023 reached more than 60 million VND/m2. In which, there are projects up to 100 - 200 million VND/m2.
Examples include: The Beverly Solari subdivision - Vinhomes Grand Park (District 9) with an offering price of around 47 - 66 million VND/m2; Empire City - The Monarch project in Thu Thiem Urban Area with an offering price of around 200 million VND/m2; Thao Dien Green project (District 2) with an offering price of around 100 million VND/m2...
In the secondary market, the average price reached VND45 million/m2, up 3% compared to the previous quarter. Meanwhile, secondary prices in the luxury and affordable segments remained almost the same compared to the second quarter.
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