Hanoi’s apartment prices rose slightly in Q2

Hanoi’s apartment prices rose slightly in Q2

According to the market research report Quarter 2-2019 by Batdongsan.com.vn, while apartment prices in Ho Chi Minh City (HCMC) have continuously risen, that in Hanoi market have slowed down and remained stable since Quarter 4-2018.

03:00, 28/07/2019

Mr. Nguyen Quoc Anh, Deputy General Director of Batdongsan.com.vn said, partly because of the scarce supply, apartment prices in HCMC continuously recorded an impressive increase in the previous quarter. Meanwhile, Hanoi’s apartment prices only increased slightly and kept stability.

Specifically, in Hanoi market, the apartment price index in Q2 only rose by 1.2 percent compared to the Q1 this year and 2.1 percent compared to the same period last year. Meanwhile in HCMC, the apartment price index in the last quarter saw a rise of 2.1 percent quarter-on-quarter and  and 11.3 percent year-on-year.

In the capital city, apartment prices in all high-end, mid-end and affordable segments are almost unchanged compared to Q1 this year.

In Q2-2019, apartment prices increased slightly in some projects in Bac Tu Liem and Hai Ba Trung districts. For example, apartments in An Binh City project rose by 4 percent to VND32 million/sqm, while those in Imperia Sky Garden increased 7 percent to VND37 million/sqm.

Data of Batdongsan.com.vn also showed districts including Hai Ba Trung, Nam Tu Liem, Hoang Mai and Thanh Xuan offered the highest numbers of real estate listings in Hanoi. For example, the number of listings in Tay Ho district jumped 115 percent over the last quarter, while Gia Lam district experienced a surge of 840 percent.

The listing index which points out the supply of property products on both primary and secondary markets, showed an abundant supply in the above districts. Growth of apartments for sale came from projects such as Imperia Sky Garden in Hai Ba Trung; Vinhomes Greenbay Me Tri in Nam Tu Liem; Kim Van Kim Lu in Hoang Mai district; Imperia Garden in Thanh Xuan district; Sunshine Riverside in Tay Ho; Vinhomes Ocean Park in Gia Lam district.

In Hai Ba Trung district alone, which had the largest number of apartment listings, potential buyers were interested in two-bedroom apartments priced at VND34-50 million/sqm the most.

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