Hanoi houses still drop in cost

Flats available in Hanoi ongoing to say no in volume and cost for that first quarter this season, Savills Vietnam Ltd has stated.

A Savills Vietnam report launched on Thursday mentioned prices ranged from VND19 million (US$680) to VND64 million ($3,100) per square metre and also the absorption rate had rejected by 5 percent to 7 percent from the previous quarter.

Grade A ongoing to achieve the cheapest absorption rate at 2 percent, almost unchanged for 3 recent quarters. Grade C had the greatest absorption rate at 11 percent, lowering 7 percentage points, then Grade B at 3 percent, lowering 9 percentage points against previous quarter.

Concerning the secondary market, the typical secondary selling price decreased in many districts because of low liquidity because the other half of this past year. Lengthy Bien and Gia Lam had slight increases in secondary prices, which might be because of the outlet of two large-scale shopping centres late this past year, particularly the opening of Large C in Lengthy Bien District.

Savills Vietnam stated low-finish and mid-range models were key items from the apartment market. Secondary models were preferred to primary ones because of secondary prices in many active projects being less than the main prices, using the difference varying from 3 percent to 32 percent. Completed structures, that have been ready for living, get more attention from purchasers.

Meanwhile, throughout the very first quarter, three projects joined the marketplace having a total of 580 models. The entire primary stock was roughly 9,800 models from 34 active projects, lowering 4 percent from the previous quarter.

The secondary stock had a lot more than 56,000 models, growing 2 percent from the previous quarter. Western districts, namely Tu Liem, Ha Dong and Cau Giay, represent 53 percent of total secondary stock.

The organisation expected 63 projects will come online within the next 3 years, which 52 recognised projects provides around 45,600 models for that Hanoi market.

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