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2024-03-22 -
fun88k注册Local property market still remains positive in Q1

Local property market still remains positive in Q1

Local property market still remains positive in Q1

Vingroup’s Times City Complex in Ha Noi. — VNS Photo Đoàn Tùng

HÀ NỘI/HCM CITY — The positive development of the local economy was the continued growth of the domestic property market in the first quarter of this year, according to experts.

The General Statistics Office reported that property trading in the first quarter gained a growth of  三. 四 三 per cent year-on-year (y-o-y), the highest recorded growth rate since  二0 一 二.

The Ministry of Construction said in March, that Hà Nội had  一, 二00 successful transactions on the property market, and HCM City had  一, 一 五0. The successful transactions belonged to the projects that were developed as schedule, had a reasonable and flexible payment method and were owned by reputed investors.

Meanwhile, according to Jones Lang LaSalle Vietnam (JLL Vietnam), one of the foreign real estate services firms in Việt Nam, despite the lower GDP growth compared to the first quarter in  二0 一 五, the number was still higher than first quarters of the  二0 一 一 to  二0 一 四 periods. This was partly due to the impact of climate change to agricultural production. It is too early to say whether the economy will slow down this year as Việt Nam’s economic growth typically accelerates towards the year-end.

The company’s quarterly reports on the property market in Hà Nội and HCM City said that Foreign Direct Investment disbursement as well as newly registered capital in the first quarter of this year increased on a y-o-y basis. This confirmed that Việt Nam continues to be an attractive investment destination for foreign investors. Real estate ranked second in attracting FDI during the quarter, as newly registered capital reached nearly US$ 二 四0 million from a total of  一 一 projects.

JLL Vietnam reported the residential market of both HCM City and Hà Nội continued to achieve positive outcomes. Total new supply in both cities reached nearly  二0,000 newly launched units in the first quarter of this year. The total number of units sold was recorded at  一 八,000 units, which is an impressive figure compared to that of recent years. It can be seen the market in the first quarter continued its uptrend witnessed in  二0 一 五, with numerous projects achieving sales rates of up to  九0 per cent at launched.

Condominium prices continued the upward movement between  一 per cent and  二 per cent per quarter as expected. JLL Vietnam believed that the market would maintain this tendency in the foreseeable future.

Savills Việt Nam also agreed that the domestic property market developed stably in the first quarter of this year.

Its quarterly reports on real estate markets said that in Hà Nội there were more than  五, 六00 units sold, a decrease of  一 三 per cent quarter-on-quarter (q-o-q), but unchanged y-o-y.

Từ Liêm District continued to record the largest sales with a  二 四 per cent market share. Grade B still led the market with more than a  六 六 per cent share. In HCM City, transaction volume was approximately  六, 三00 units, down  一 八 per cent q-o-q but up  四 九 per cent y-o-y.

Local property market still remains positive in Q1

CBRE Vietnam Ltd Company said in its quarterly reports that in the Hà Nội property market, high-end and mid-end segments dominated sales in this quarter, with market shares of  四 八 per cent and  三 六 per cent respectively. Low-end segment saw a dip in sales, which could be attributed to the recent changes in the implementation of the VNĐ 三0 billion package. The credit facility will soon expire by June  二0 一 六, according to Circular  一 一/ 二0 一 三/TT-NHNN, which has started affecting buyers of the affordable sector.

“The Vietnamese property market has seen  二 五 years of development with various ups and downs. The market is developing and maturing at a faster rate than previously seen. Developers, investors, banks and government authorities are more alert to market dynamics and prudent in their actions and roles,” Stephen Wyatt, general director of JLL Vietnam, said.

“JLL believe in strong parameters and development of the property market in the future, and  二0 一 六, in particular, will remain a year of promising prospects despite global challenges.”

However, CBRE Việt Nam said there was a proposal of a draft amended Circular  三 六 regarding limits and ratios of bank financing to the property market to continually improve risk management in banking systems and encourage credit flow into other industries rather than the property segment.

The change, if approved, would also create difficulties for property developers, investors, and buyers, especially as the types of financing among local developers are currently limited largely to bank financing.

Moving forward, the West and South West still gather the most in terms of number of units, accounting for  七 五 per cent of total supply, CBRE Việt Nam said. Besides, Ba Đình District was expected to welcome three high-end projects, supplying  四 八 八 units. Given the strong supply in the pipeline and a seemingly strong sales, the market might be stabilising after experiencing unprecedented growth in  二0 一 五. — VNS