Scarce supply, remaining apartment fund in the West is sought after

The bustling center of the Hanoi real estate market is expected to continue to focus on the West of the capital when information about the remaining apartment fund located in the Vinhomes Smart City metropolis will be launched this August.

Liquidity is expected to be high as this basket of goods is expected to have reasonable prices, in the context of apartment prices showing no signs of stopping increasing.

West Hanoi apartments lead the market

In the first half of 2024, the Hanoi apartment market recorded a vibrant development in the context of scarce supply, new projects with full legal documents were approved in small batches. This was also the period that witnessed a strong increase in apartment prices in both primary and secondary markets.

CBRE Vietnam's recent real estate market report provides some notable data. This unit commented that apartment prices in Hanoi had a stable growth rate in the first 6 months of the year. In particular, primary prices in the second quarter of 2024 increased by 6.5% compared to the previous quarter and increased by nearly 25% year-on-year. In the same direction, secondary apartment prices increased by 5% quarter-on-quarter and 22% year-on-year.

Western apartment fund becomes the center of market wave

The supply of apartments for sale in the second quarter also increased fourfold compared to the previous quarter, reaching approximately 8,500 units, concentrated in the West of Hanoi with the Vinhomes Smart City urban area project. In terms of purchasing power, in the second quarter of 2024 alone, the number of apartments sold in the entire Hanoi market reached 10,170 units, five times higher than in the first quarter of 2024. The total number of apartments sold in the first two quarters of 2024 exceeded the level recorded in the whole year of 2023.

OneHousing Market Research and Customer Insight Center also provided similar survey data. This unit assessed that the Hanoi apartment market entered a new growth phase when supply and consumption in 2024 were expected to be the highest in 5 years. In the first 6 months of 2024 alone, the entire Hanoi market recorded more than 52,000 transactions, of which both primary and transfer apartments accounted for 54%.

According to this unit, the primary supply in Hanoi in the second quarter of 2024 reached about 8,400 units, an increase of 97% compared to the previous quarter and an increase of 340% year-on-year. The consumption volume reached about 8,300 units, most of which were also concentrated in the West of Hanoi.

Large supply for sale combined with a favorable geographical location with a well-connected traffic system and well-planned planning are the reasons why Vinhomes Smart City has become the center of the Hanoi apartment market.

New supply released, market focus remains unchanged

“The real estate market will enter a new growth phase after August 1st” is the opinion of many market research units when the three laws of Land, Housing and Real Estate Business officially take effect. In particular, West Hanoi is still predicted to be the bustling center of the Hanoi apartment market when information about 600 apartments in the last building of The Miami subdivision will officially be launched on the market. This is also the remaining small supply in Vinhomes Smart City urban area.

According to the investor's introduction, GS5 is an apartment tower located between the two subdivisions The Sakura and The Miami. The location of the GS5 tower is also adjacent to the roundabout at entrance number 4 connecting the project to Le Trong Tan - Ha Dong street.

GS5 is designed to be 38 floors high, with a Z-shaped layout and a density of 16 apartments per floor. This is an apartment building that is considered to have the lowest density among the buildings that have been opened for sale.

GS5, the last apartment building of The Miami subdivision, is expected to cause a stir amid scarce supply.

With the heat at some apartment buildings in Vinhomes Smart City urban area, GS5 of The Miami is expected to become the center of attention, because the price of GS5 apartments is expected to remain at a reasonable level with a modest supply. Meanwhile, the apartment prices of "later" projects are continuously establishing new price levels.

Experts say that the liquidity of the apartment segment has always led the market in the past and the next period for many reasons. Firstly, the supply of apartments in the Hanoi market in the near future will increasingly narrow. The price of primary apartments will increase continuously. Secondly, the 3 new laws on real estate will tighten the regulations on project legality as well as transparency in transaction activities. This will affect the increase in apartment prices. Thirdly, apartment projects are increasingly invested in a systematic way, with a large scale and diverse infrastructure and utilities, bringing real value to buyers. Because of good quality and meeting the right tastes, buyers are willing to pay to own quality real estate.

Source: https://baodautu.vn/batdongsan/nguon-cung-khan-hiem-quy-can-ho-con-sot-lai-phia-tay-duoc-san-don-d221933.html