Hanoi’s apartment sales gains momentum
Hanoi’s condominium market witnessed a great growth during the last
quarter of 2014 with 7,200 apartments from 16 projects offered,
reported CBRE Viet Nam Company Ltd., a foreign property service
Accordingly, total condominiums for sale amounted to 16,200 in the full year, more than doubling that of 2013.
In the fourth quarter of 2014 alone, 3,990 condominium transactions
were successful, 48 percent of which came from the mid-end segment and
37 percent from the low-end segment. With this, a total of 10,700
apartments were sold during the year, rising 60 percent year on year.
Nguyen Hoai An, senior manager of CBRE Vietnam's Hanoi branch, said
residential projects in urban districts continued to reel in buyers over
the last three months in 2014 with highest price increase recorded in
the high-end segment.
CBRE experts forecast the capital’s
property market, including the condominium market, will maintain its
momentum in 2015, particularly in the high- and mid-end segments.
The growth is expected to be contributed by the amended Law on
Housing which will take effect on July 1, 2015, with regulations
allowing foreigners and Vietnamese people residing abroad to hire
and own real estate in Vietnam.-VNA