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HCMC High-end Apartment Prices Surge 36 pct

The average selling price of Grade A apartments in HCMC topped VND 143.6 million ($6,266) per square meter in the fourth quarter of 2021, up 36% quarter-on-quarter. It also increased 23% year-on-year, according to real estate service provider Cushman & Wakefield Vietnam.

In the last quarter of last year, the price of Grade B (mid-end) apartments averaged VND56.7 million ($2,474) per square meter and that of the affordable segment at VND40.9 million ($1,785) per square meter, up 7 percent quarter-on-quarter. The prices of Grade B and Grade C apartments in the fourth quarter did not change much against the previous quarter, but surged 15 percent and 26 percent year-on-year, respectively. These apartments were mainly located in the suburbs in eastern HCMC.

The number of new apartments for sale was 2,600, down 69 percent over the same period of 2020, but up 54 percent against the previous quarter. Grade B apartments accounted for 90 percent, and Grade A ones for 10 percent. No new Grade C apartment was launched in the last three months of the year.

The total number of apartments sold in both new and old projects was nearly 3,000 in the last quarter of 2021, with Grade B apartments accounting for 82 percent and Grade A for 11 percent, according to Cushman & Wakefield Vietnam. Some 25,000-30,000 new apartments are set to come into the market over the next 12 months. Online sales tools will still be used in 2022, but since the end of last year, many businesses have invested in building model apartments to support direct sales and improve liquidity, the real estate service provider said.

Source: VnExpress International

Author: Trung Tin

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