2019 Market - Price rise due to Supply down Demand up
Apartments price was 2,009$/m2 in HCMC increase of 21.6% compared to 2018.
High-end price was 5,569$/m2 as 52.9% Up.
In 2019, we also saw a decrease in new projects due to the lengthened construction approval processes, which is a result of the government’s tightened control of new developments.
As a result of this, many investors have started to look for quality units in the secondary market as well.
In the coming years, Dist2, Dist9 will become increasingly interesting as the city mainly expands to the east. Most of the new office supply will be allocated to these districts until 2025.
2020 Market ?? – Leaping again
Even if we’ve seen tightened policies and a reduced supply of property in 2019, the market is predicted to perform well in 2020.
Foreign investors still flock to Vietnam and many of the projects that were put on hold in 2019 will resume in 2020.
We will see more developments of residential property for low-income earners in 2020 more than past 3year.
Even if residential real estate prices have increased much in the past years, Ho Chi Minh, Hanoi, and Da Nang still lower than places like Bangkok, Manila, Kuala Lumpur, Singapore, and Hong Kong.