Recently, the Association of Real Estate Brokerage Vietnam has released a report on the real estate market in Vietnam in the third quarter. in which, outstanding issues is the consumption situation of super-luxury apartment segment in 2 cities: Hà Nội and Hồ Chí Mình city.
Accordingly, the supply of super-luxury apartments increased almost 11 times compared to the previous quarter. Specifically, in the second quarter, the number of apartments in this segment is only 115 units but by the third quarter of 2018, the number of products has increased to 1,322 units.
However, there is a noticeable difference in the consumption rate between Hanoi and HCMC. The consumption rate in Hà Nội is 90 deal in the second quarter, approximately 2%. Although the consumption rate of Luxury products is higher, It’s still only about 13%.
Meanwhile, in Ho Chi Minh City, luxury segment products are consumed quickly, reaching the absorption rate of 100%. Premium segment also reached 78%. The report said that the supply of high-end segment (45 to 70 million dong per m2) increased sharply. Especially, in this market, there are some super-luxury apartment projects with the price of 150-200 million dong per m2, which is highly regarded by foreigners and foreigners.
According to the survey, the project has high-end products and super luxury has attracted a lot of foreign investors. The amount of room for foreigners in these projects is almost sold out.
That shows that the high real estate market is starting to recover after a quiet period. The interest and the number of successful transactions in these projects since the beginning of 2018 increased significantly.
This return comes from many advantages such as increasing incomes of people, and appropriate policies for many buyers. By changing some of the policies on home ownership in 2015, which allows foreigners to own homes in Vietnam for a longer term or a stable macroeconomy than other countries in the area, has created many advantages to attract investors.