Saigon buyers prefer apartments priced at VND25-40 million/sqm

Saigon buyers prefer apartments priced at VND25-40 million/sqm

Apartments priced from VND25-40 million/sqm accounted for more than half of demand for properties in Ho Chi Minh City (HCMC) market, data of market report in Quarter 2/2019 by Batdongsan.com.vn showed.

21:00, 27/07/2019

Accordingly, in the last quarter, both the number of listings and interest in HCMC’s apartment segment saw an impressive growth. This was also considered a sign of market recovery and vibrant activities in the quarter. In particular, the total number of apartment listings in HCMC increased by 38 percent over Q1, while interest also recorded a rise of 23 percent quarter-on-quarter.

 

District 2, District 9, District 7 and Binh Thanh led the HCMC market in term of number of listings. Compared to the same period of 2018, number of listings of apartments for sale in District 9, District 2 and Binh Thanh in Q2 increased by 53 percent, 44 percent and 34 percent, respectively. District 7, despite a slight decline in the number of apartments for sale, still offered the highest supply in HCMC.

Also in the quarter, HCMC’s apartment prices continued to rise strongly, up 2.1 percent quarter-on-quarter and 11 percent year-on-year. In general, real estate prices in HCMC also continuously increased by 4.5 percent quarter-on-quarter and 18.1 percent year-on-year. Most of housing segments experienced price increase in Q2. Except for the luxury segment, which witnessed a slight decrease from an average of VND110 million/sqm to VND106 million/sqm, prices of other segments, namely affordable, mid-end and high-end apartments, on average rose by 2-3% over the previous quarter.

Batdongsan.com.vn’s data on apartment price range that is interested by Saigon buyers also showed two-bedroom apartments priced at VND25-40 million/sqm accounted for more than 50 percent of the demand for apartments in the city. In particular, apartments priced at VND25-30 million/sqm recorded the highest demand, followed by VND30-35 million/sqm and VND35-40 million/sqm. The demand for apartments priced at VND20-25 million/sqm has dropped in recent quarters as new supply of this product line has almost no longer appeared in the market.

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