Illustrative image (Source: VNA) HCM City (VNS/VNA) - There will not be much change in the propertymarket in the second half of the year, a senior Ministry of Constructionofficial has said.
Vu Van Phan, deputy director of the housing and real estate managementdepartment, was quoted on Infonet e-newspaper as saying that demand foraffordable and social housing would continue to be high, especially infast-growing urban areas, but there would be a gap in terms of liquidity indifferent segments.
“In 2018, supply of mid-level and high-end apartments will likely surpassdemand while there will be a shortage of affordable ones.
“Low-priced products from reputable developers will see high demand and salesof high-priced products will slow down.
“Prices of other real estate products will fluctuate somewhat.”
There are many projects coming up in the resort segment, including condotels,this year, he said.
With condotel supply being high, he expected the market to see a slowdown, hesaid.
Nguyen Manh Ha, former head of the Housing and Real Estate Market ManagementAgency and chairman of the Vietnam Association of Realtors, was also positiveabout the market this year, saying it would see steady growth.
“However, prices of land in outlying areas with developed infrastructure in Hanoiand HCM City will increase.”
At the moment, land remains the hottest sector, especially in HCM City’soutlying districts.
Experts have blamed the paucity of land in the city for the rising prices inneighbouring provinces in the first quarter.
Southern provinces of Long An and Dong Nai have seen 2,009 and 1,895 land lotscoming into the market in the last quarter, respectively.
Major projects include T&T Long Hau and Lexington Garden in Long An, andSwan Park and Dai Phuoc Island in Dong Nai.
As for the slowdown in demand in the high-end apartment segment, the CarinaPlaza apartment fire in HCM City’s District 8 in March is also thought to be amajor reason.
The condotel market is slowing down compared to last year due to the lack of alegal framework governing the product.
Moreover, investors have become more cautious about the risks in this segmentand started to doubt developers’ promises of high returns.-VNA
Vu Van Phan, deputy director of the housing and real estate managementdepartment, was quoted on Infonet e-newspaper as saying that demand foraffordable and social housing would continue to be high, especially infast-growing urban areas, but there would be a gap in terms of liquidity indifferent segments.
“In 2018, supply of mid-level and high-end apartments will likely surpassdemand while there will be a shortage of affordable ones.
“Low-priced products from reputable developers will see high demand and salesof high-priced products will slow down.
“Prices of other real estate products will fluctuate somewhat.”
There are many projects coming up in the resort segment, including condotels,this year, he said.
With condotel supply being high, he expected the market to see a slowdown, hesaid.
Nguyen Manh Ha, former head of the Housing and Real Estate Market ManagementAgency and chairman of the Vietnam Association of Realtors, was also positiveabout the market this year, saying it would see steady growth.
“However, prices of land in outlying areas with developed infrastructure in Hanoiand HCM City will increase.”
At the moment, land remains the hottest sector, especially in HCM City’soutlying districts.
Experts have blamed the paucity of land in the city for the rising prices inneighbouring provinces in the first quarter.
Southern provinces of Long An and Dong Nai have seen 2,009 and 1,895 land lotscoming into the market in the last quarter, respectively.
Major projects include T&T Long Hau and Lexington Garden in Long An, andSwan Park and Dai Phuoc Island in Dong Nai.
As for the slowdown in demand in the high-end apartment segment, the CarinaPlaza apartment fire in HCM City’s District 8 in March is also thought to be amajor reason.
The condotel market is slowing down compared to last year due to the lack of alegal framework governing the product.
Moreover, investors have become more cautious about the risks in this segmentand started to doubt developers’ promises of high returns.-VNA
VNA
