Apartment price in Hanoi returned to the peak of 2011

Apartment price in Hanoi returned to the peak of 2011

The newly updated report of apartment price transaction index for apartment quarter III/2019 of Hanoi Department of Construction shows that Hanoi apartment price ground in nearly all districts has become about the peak of 2011.

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Specifically, compared to the original year of 2011, the average price level of mid-end and high-class apartments actually touched and slightly exceeded the peak level of 2011 from the beginning of the first quarter of 2018. Previously, in the fourth quarter of 2017, the average price level of the mid-end and high-end segment was only about 80-85% compared to the peak of 2011.

After skyrocketing at the end of 2017, the price level remained relatively stable, almost unchanged in the past 7 quarters, by the end of the third quarter of 2019.

According to Viet Duong

Hanoi set up a delegation to supervise the observance of law on construction planning

Hanoi set up a delegation to supervise the observance of law on construction planning

City People's Council. Hanoi has just issued a decision to set up a delegation to supervise the observance of the law on construction planning in the City.

The supervision mission is headed by Ms. Nguyen Thi Bich Ngoc, Deputy Secretary of City Party Committee, Chairwoman of City Council.

Accordingly, the City People's Council will oversee the rural construction planning in the city period 2008 - 2019, expected supervision for the City People's Committee, Department of Planning and Architecture, People's Committees of districts and communes.

The purpose of the monitoring mission is to review and evaluate the observance of law provisions in the rural construction planning work, including: the elaboration, evaluation, approval of plannings and organization of implementation, planning management, planning adjustment. Clarify the results, limitations, difficulties and problems, identify the causes and responsibilities of organizations and individuals in the implementation process. On that basis, proposing and proposing measures to overcome the shortcomings and limitations in order to ensure the effective implementation of the city's rural construction planning work.

According to Viet Duong

Hanoi established 3 industrial clusters in Dong Anh district

Hanoi established 3 industrial clusters in Dong Anh district

City People's Committee Hanoi has just issued 3 decisions to establish industrial clusters in Dong Anh district.

Specifically, Lien Ha 2 Industrial Cluster in Lien Ha Commune with a scale of 20 hectares, including the main activities: Wood processing, civil carpentry, fine art carving, lacquer... Total investment capital from VND 426.8 billion. Progress of investment in construction of technical infrastructure projects from the fourth quarter of 2019 to the fourth quarter of 2021.

Duc Tu industrial cluster, Duc Tu commune has an area of 15 hectares, with the main activities being: Wood processing, civil carpentry, fine art carving, lacquer... The total investment capital is about 336.8 billion dong. Progress of investment in construction of technical infrastructure projects from the fourth quarter of 2019 to the fourth quarter of 2021.

Thuy Lam industrial cluster, Thuy Lam commune has an area of 17 ha with main activities: Wood processing, civil carpentry, fine art carving, lacquer... The total investment capital is about 326,243 billion dong. Progress of investment in construction of technical infrastructure projects from the fourth quarter of 2019 to the fourth quarter of 2021.

According to Kim Duc

Real Estate Capital: The focus gradually shifted to the East

Real Estate Capital: The focus gradually shifted to the East

Western area after many years is the focus of the capital real estate market, so far, it seems that the interest is gradually shifting to the East.

Nhat Tan Bridge increases the possibility of connection between Dong Anh and the inner city of Hanoi. Photo: Shutterstock

Western Area - Waiting to absorb all available supply

Real estate in the west of Hanoi for many years has always been a navel to attract investment. In only about 5-6 years, the number of offices and apartments in this area increased rapidly, especially near the main roads and radial roads.

For a long time, the West has always dominated the supply of offices, terraced houses and apartments for the whole Hanoi market. It is not difficult to recognize familiar images in districts such as Cau Giay, Nam Tu Liem, Bac Tu Liem and Ha Dong, which are mushroom-like constructions, the whole area is like a great construction site.

In just the last 2 years, Cau Giay Park has been seen from all sides on three sides, except for the direction of Thanh Thai Street, but now it is almost 4 full of numerous works, from apartments to offices. In only about 2 years, when the project is completed and put into use, this park will be like a skylight of a complex of buildings surrounding it.

Similarly, in Mac Thai To street (Cau Giay district), in the last 2-3 years, apartment buildings and office buildings have been built concurrently and quickly. From the area with lots of free space, this area has also become unusually cramped. In particular, many internal roads have not been completed and cared for, so the inside of the projects look sluggish.

Western area after a long time of being absorbed in "plowing" by investors, so far, there has been a large amount of supply and it needs more time to absorb.

Eastern Area - Overcoming psychological anxiety

When the West is looking for more time to absorb the available supply, it is time for many developers to start looking for new investment areas. And it seems that the East, including Long Bien District, Gia Lam District, Dong Anh District as the girls reach the age of statistics, are starting to be noticed by the boys.

It is not difficult to name a number of condominium projects that have been implemented, there are projects entering the handover stage such as: AQH Riverside Apartment (Thuong Thanh Ward, Long Bien District), Binh Minh Garden Apartment (Ward) Thuong Thanh, Long Bien district), Him Lam New Star Thuong Thanh (Thuong Thanh ward, Long Bien district), HC Golden City Long Bien (Long Bien district), Le Grand Jardin Sai Dong luxury apartment building (Long Bien district) TSG Lotus Sai Dong (Viet Hung Ward, Long Bien District), Intracom Riverside Apartment (Vinh Ngoc Commune, Dong Anh District), Eurowindow River Park Urban Area (Dong Hoi Commune, Dong Anh District)...

MIK Home's Valencia Garden benefits from transportation infrastructure. Photo: Thanh Nguyen

According to Mr. Duong Duc Hien, Director of Savills Hanoi Housing Business Division, the Vietnamese saying "the most is sight, the second is river, the third is high way" of Vietnamese people have a lot of impacts on investors, making a difference. The difference in taste in real estate shopping compared to many countries. In developed countries, with good transport infrastructure, people prefer to stay away from the city, because then distance is no longer a problem, but the ecological environment is concerned. In Vietnam, this trend has also begun and urban areas such as Ecopark (Hung Yen) are gradually proving the level of success. It is also in line with the policy of developing satellite towns. This is also an opportunity for real estate in the suburbs, including the East of Hanoi.

According to a survey of the Real Estate Investment Newspaper, apartment projects in the East Hanoi area have good liquidity.

Mr. Tuan, a salesperson of the Northern Green Land, said his company is currently the exclusive distributor of TSG Lotus Sai Dong project. The project has been in the roof since July 2019, is currently finishing the apartment, preparing to paint the exterior in November 2019. The project has one completed shophouse lot, another is under construction. The project was launched in July and sold quite well, currently there are about 90/300 units with customers (investors sell in batches, not all).

Sharing the trend of customers, Mr. Tuan said, now, the psychology of crossing the river is gone. Hanoi has many existing bridges and the future will continue to have more bridges connecting the two banks of the Red River, plus the transport infrastructure of Long Bien is rapidly improving, so more and more people are interested in Long Bien real estate production. Currently, many customers who buy apartments of the project come from Hoang Mai and Thanh Tri areas.

"The most important thing is that the project has the price and location suitable to customer needs, especially near the workplace, the easier it is to sell", Mr. Tuan emphasized.

Movement of capital flows

Recognizing the potential of the market of Long Bien, Gia Lam and Dong Anh districts, Mr. Do Viet Chien, General Secretary of Vietnam Real Estate Association said that in the next 5 years, this will be a developed market. due to improved transport infrastructure. The spine axis of Nhat Tan Bridge to Noi Bai Airport connects both with the downtown area and connects to Road 5 to Hai Phong. Particularly, planning of Vo Nguyen Giap road has approved 1/500 plan.

According to Mr. Chien, the western market of Hanoi is only developed to My Dinh, later to the ring of 3.5, to Day river. However, in the future, the North Thang Long area will be an urban development trend in Hanoi. The development experience of the previous countries shows that the real estate market is directed to airports and seaports for economic development, so investors should pay attention to these locations for development. The Vo Nguyen Giap road connecting the airport to the inner city area is a good suggestion.

Sharing the same view, MIK Group leader said that centrifugal trend is the key and businesses will pursue. The peripheral areas are currently very well invested and large scale. There, businesses can build large-scale projects that serve multiple needs to buyers.

"In the near future, I believe that investors will try to deploy and create large urban areas", he said.

The potential of Eastern market is being woken up by some investors. Businesses such as Vingroup, Him Lam, MIK Group, Hai Phat, An Quy Hung, Cen Group... have implemented their projects here. Perhaps, the dizzy sales of projects like Valencia Garden has made many investors more confident. This project was developed from a previous period, when the sale was quickly owned by the owner after only a few months.

Referring to the Eastern Hanoi market, it is impossible not to mention the great smart city project of the consortium of BRG Group and Sumitomo Corporation (Japan). This project has been groundbreaking in early October and is expected to create a big push for the Dong Anh market in particular and the East in general.

Commenting on Dong Anh market and the effect from the above project, Do Van Anh, CBRE Hanoi Market Research Department, said that from 2019 and 2020, urban area projects will account for billions significant focus on apartment supply. This is a distinct feature compared to the previous period when developers developed many single housing projects. The smart city may open its first apartment sale in 2020 and will probably create new supply changes for the apartment segment across the Red River.

According to Ms. Van, the construction of bridges or Ring Road 2 has helped increase connectivity and infrastructure for the East, facilitating movement and connectivity so it has a positive impact on the transaction and price ground.

“Over the past 10 years, Hanoi has strongly developed the Western region, until recently it has started to develop strongly across the Red River. In particular, Dong Anh is a latecomer region, so the price level is still lower, so the prospect of price increase is also better than developed regions” Ms. Van emphasized.

According to Thanh Nguyen

Hanoi Market: In the third quarter of 2019, gloomy and housing apartments suddenly bloom

Hanoi Market: In the third quarter of 2019, gloomy and housing apartments suddenly bloom

CBRE Hanoi has just released a report on the Hanoi real estate market in the third quarter of 2019 with a sharp drop in supply compared to the previous quarter in the apartment segment, while the liquidity of the housing segment attached to land has the surge.

The segment of apartments declined both supply and liquidity. Photo: Thanh Nguyen.

Specifically, in the third quarter, the Capital market had nearly 6,100 apartments offered for sale from 18 projects, decreasing to 33% compared to the second quarter of 2019. At the same time, liquidity also dropped by 32%, selling only 4,800 apartments.

Supply decreased, liquidity decreased but the price level recorded an impressive increase of 4% compared to the same period last year, reaching 1,337 USD/m2.

This year, the new supply also shows more clearly the trend of centrifugation when ordinary projects are located 10 km - 13 km from the center of Hanoi, while projects in the same segment from 2017 and earlier only 10 km from the center (Hoan Kiem district).

Although the apartment segment is quite quiet, but in the housing segment associated with land in the third quarter of 2019, the Capital market recorded a strong breakthrough. In the whole quarter, 879 new units were launched, liquidity reached 873 units, up 3% QoQ and 67% YoY.

The land-attached housing segment is attracting investment capital, when accumulated for 9 months, the liquidity reached 3,853 units, 1.5 times higher than the liquidity in 2018.

Assessing the role of urban projects, Ms. Do Thi Van Anh, CBRE Hanoi Market Research Department, said that in the coming time, urban areas will continue to play the role of the main source of supply both in the segment of apartments and land-attached houses for the Capital market. At the same time, the trend of centrifugation will become increasingly evident in the future.

According to Thanh Nguyen

Apartment prices in Hanoi and Ho Chi Minh City increased from 0.21 to 0.77% compared to the second quarter

Apartment prices in Hanoi and Ho Chi Minh City increased from 0.21 to 0.77% compared to the second quarter

Regarding housing price movements, according to the Ministry of Construction's September and 9 months of 2019 socio-economic situation, citing data collected from the real estate brokerage association's report, in In the second quarter of 2019, in Hanoi and Ho Chi Minh City as well as some other localities, the real estate market had 18,115 successful real estate transactions (up 28.9% compared to the first quarter of 2019).

Photo: Minh Anh.

The number of resort real estate (condotels, tourist villas) successfully traded in the second quarter of 2019 is 1,398 transactions.

In the third quarter of 2019, real estate prices in Hanoi and Ho Chi Minh City fluctuated, but the amount of fluctuations was not large.

Specifically, according to the Ministry of Construction, in Hanoi, the price of apartments increased by 0.21% compared to the second quarter of 2019 (of which, for high-end apartments, the price decreased by 0.12%, apartments). Average households increased by 0.31%, affordable apartments increased by 0.76% compared to the second quarter of 2019. For individual houses, the price increased by 1.25% compared to the second quarter of 2019.

In Ho Chi Minh City, the price of apartments increased by 0.77% compared to the second quarter of 2019. Specifically, the segment of high-end apartments increased by about 0.5%, mid-end apartments increased by 0.99% and affordable apartments increased by about 0.54% compared to the second quarter of 2019. And individual houses increased by 2.74% compared to the second quarter of 2019.

Apartment prices in all segments in Ho Chi Minh City increased over 50% in the period of 2015 - 2019

Regarding Ho Chi Minh City market, DKRA Vietnam recently reported changes in selling prices of apartments in Ho Chi Minh City market in the period of 2015-2019. According to this report, the prices of high-end apartment buildings (Grade A), mid-end (Grade B) and affordable (Grade C) have all fluctuated. Over the 5-year cycle, prices of apartments in Grade A, B and C have increased by over 50% on average.

Ho Chi Minh City real estate market. Photo: Vu Le/VnExpress

According to DKRA, in 2015 the average selling price of Grade A apartments was VND 40 million per m2. This price has increased on average 12.5% per year thereafter. Specifically, in 2016 and 2017, this price was VND 45-55 million/m2. In 2018, the price of this apartment segment was 57 million VND/m2, an increase of less than 4%.

Notably, in the first 8 months of 2019, the price of Grade A apartments has increased by 7%, currently at VND 61 million/m2 and there are signs of further increase in the near future.

As for Grade B apartments, in 2015, the average price was 21 million VND/m2 and by August 2019 it was 32 million VND/m2. In the first three quarters of 2019, the average price of Grade B apartments increased by 3%.

Although ranked behind Grade A and B, Grade C apartments are of interest to the market and have significant price changes. Specifically, in 2015, the price of a Grade C apartment was only VND 16 million/m2 and at the end of August 2019, this figure was VND 24 million/m2. In the past 12 months, the average price of Grade C apartments has increased by 9%.

DKRA also said that in the high-end apartment segment, there was a sharp change from average price to ceiling price (peak). The price of 61 million dong/m2 was recorded as an average. In fact, the apartment market in Ho Chi Minh City has appeared the area of hundreds of millions of dong for luxury apartments.

DKRA Vietnam also said that the price of apartments in Ho Chi Minh City is likely to continue to increase in the fourth quarter of 2019 due to the shortage of supply when the projects have longer legal preparation time than before.

The survey company also assessed that housing demand in Ho Chi Minh City is still very large due to strong mechanical migration, so the housing market in this city is still considered attractive and potential in the next years.

Follow Life & Legal

Where is the source of new apartment buildings in Hanoi?

Where is the source of new apartment buildings in Hanoi?

Scarcity of new goods is the current situation of Hanoi apartment market from the beginning of the year to the present. Buyers have real demand and investors do not have many options in this segment. A few newly launched apartment projects are concentrated in the West and East of Hanoi.

The West is one of the hot spots of Hanoi real estate market. This area has strongly attracted cash flows of investment and real purchases for decades. According to the master plan to 2030, vision to 2050, the West will be the new economic - administrative center of the Capital. Arterial traffic routes such as BRT Yen Nghia - Kim Ma fast bus, Cat Linh - Ha Dong elevated railway, Le Van Luong extended - To Huu, Le Trong Tan (Ha Dong), Trung Van road connected Me Tri - My Dinh. large commercial projects are concentrated in the West. Agencies, Ministry's headquarters, companies, corporations have been moving strongly to the West to facilitate the moving and dealing with partners. These changes have created attraction in the region's real estate market.

According to Savills' report, in 2018, among the more than 30,000 apartments launched in Hanoi, the West led the supply and sales. CBRE's research data also clearly shows the leading role of the West's supply in Hanoi market. In 2009, 62% of the Hanoi market was concentrated here. And 10 years later, the West still retains the No. 1 position, despite a slight decrease in market share to 56%.

In fact, the review of the authorities on procedures, legal and land fund has caused the supply and transaction to decline from the beginning of 2019 to the present. But in that scarcity, a few new projects launch the market and new supply from old projects continues to focus in the West.

West Hanoi currently has 2 new projects introduced in the market: The Terra An Hung and BID Residence. The Terra An Hung is located on To Huu street, right at the gateway of An Hung urban area (Ha Dong). The project consists of 3 45-storey apartment buildings with more than 1,000 apartments with areas from 65.11 to 140.8 m2, selling price from VND 22.5 million/m2.

Scarcity of new goods is the current status of the apartment Hanoi market from the beginning of the year to the present time.

Near The Terra An Hung is a new supply from BID Residence. This is a project of BID Group with 2 35-storey and 50-storey buildings, providing 804 apartments with an area of 62 to 90m2 with a total investment of VND 1,020 billion. The selling price of the project is from VND 21.5 million/m2.

In addition to the new project, the West of Hanoi continues to receive new supply from a number of projects launched last year such as Vinhomes Smart City, HPC Landmark 105, Roman Plaza.

Besides the West area, the East area of Hanoi including Long Bien and Gia Lam also have a number of new projects. About 3 recent years, after the West, the East is a new bright spot of the real estate market in Hanoi. The distance between the East and the city center has been significantly shortened with the presence of important bridges and roads such as Dong Tru Bridge, Vinh Tuy Bridge, Ngo Gia Tu Street, and extended National Highway 5. the road from the dyke of Red river to the bridge road of Thanh Tri, the bridge of Cau Bay - Thach Ban...

In particular, the big super projects such as Aeon Mall, Savico Mall, Vinhomes Riverside ecological urban area... have created a great resonance in terms of commerce and society, boosting the regional real estate market to grow strongly. Over the past year, if Gia Lam has been active with the sale of Vinhomes Ocean Park, from the beginning of the year to the present, Long Bien will welcome 2 new projects, namely TSG Lotus Sai Dong and Le Grand Jardin.

TSG Lotus Sai Dong Located at the junction of Sai Dong street and intersecting Tran Danh Tuyen street (Viet Hung ward, Long Bien). The high-rise area of the project is a 25-storey building, built on an area of 2,021m2, providing 328 markets with flexible areas from 70m2 to 115m2 and arranged with 2-3 bedrooms, selling price from 25 million dong/m2.

A new project introduced in the East of Hanoi is Le Grand Jardin of Hanoi Construction Joint Stock Company No. 3. Le Grand Jardin was built on the boundary of 3 wards in Long Bien district: Viet Hung, Phuc Loi and Giang Bien. The project has a scale of 9 buildings, providing more than 1,000 apartments with an area of 55 m2 - 106 m2.

Before these developments, Mr. Nguyen Van Dinh - General Secretary of Vietnam Real Estate Brokers Association said that in the last months of 2019, the real estate market will be more exciting. Buyers wishing to live there will have many options. These are considered positive signals of the market.

According to Bach Cuc

Real Estate August, 2019: Saigon land cooled, Hanoi attracted investors

Real Estate August, 2019: Saigon land cooled, Hanoi attracted investors

The real estate market in August 2019 continued to record the scarcity of new projects in the apartment segment, causing apartment prices to be pushed up in Ho Chi Minh City, and secondary transactions in Hanoi were vibrant. In addition, the land market in Saigon plummeted, particularly in the residential land segment of Hanoi, the price of 1 billion attracted real buyers and investors.

Apartments continue to be in short supply

The review of legal procedures and projects of the authorities has caused the supply and transactions in key markets to decline sharply.

In Ho Chi Minh City, from the end of 2018 to the first half of 2019, the market has about 5 new projects offered for sale. The remaining supply of the market is mainly from previously announced projects and completed legally a few years ago. It is this scarcity that has pushed up the price of apartments in Ho Chi Minh City during the first 8 months. Online data of Batdongsan.com.vn shows that if in Q1/2018, the average price of the apartment is 28 million VND/m2, then after one year, the set price is 34 million VND/m2. In the second quarter of 2019, apartment prices continued to increase by 11.3% over the same period and 2.1% compared to the previous quarter. Most recently, according to Batdongsan.com.vn survey data, apartment prices increased by 12% over the same period in 2018.

The move to review the procedures and legal projects of the authorities has led the supply and transactions in key markets plummeted. Illustration

In Hanoi, the number of newly launched projects is only counted on the fingers. Scarce of primary sources, the Hanoi apartment market recorded a vibrant reality in the secondary market in mid-range and low-cost projects, ranging from VND 1.5 billion or less.

Nam Tu Liem and Ha Dong are the focal points of these deals as these are two markets that focus on a large number of mid-range housing units. In Ha Dong, projects such as Van Khe, Duong Noi, Xuan Mai Complex, Sails Tower... recorded many successful transactions in the secondary market over the past time. Similarly, some names that can be mentioned in Nam Tu Liem are Hateco Xuan Phuong, Viglacera OCT, ICID Complex... In the secondary market, most of the selling price is equal to the buying price or if there is an equivalent difference furniture money. Some new projects handed over such as Hateco Xuan Phuong, ICID Complex... transactions on the secondary market reached a slight difference of 40-60 million VND/unit.

Saigon land is quiet, Hanoi attracts investment cash flow

Once upon a time there was a constant fever of the Saigon land market, but for many months now, the East was quiet, land prices and transactions plummeted. The East is currently the place with the strongest fluctuations in land prices today. In the first quarter of 2019, the land market in District 9 recorded a sharp increase in prices. Land plots on Nguyen Xien street from VND 40-45 million/m2 in May 2018 were shouted at VND 50-55 million/m2 in the first quarter of 2019; La Xuan Oai route from 42 million dong/m2 to 55-60 million dong/m2; Hanoi Highway from 55 million VND/m2 up to 60-65 million/m2; Vo Van Hat street from 41 million dong/m2 to 50 million dong/m2. However, up to now, successful transactions have recorded the actual price 10-25% lower than the asking price. Demand for investment decreased, real buyers were neither interested nor able to buy land here, causing a sharp decline in the regional market.

Once upon a time it was a constant hot spot of the Saigon land market but for many months now, the East has been quiet. Illustration

Experts explained that it was the overwhelming investors in the East that previously caused the land price to blow up. The price is too high, which makes it difficult to create market waves, investors are not keen, real buyers are also not eager for going beyond financial capabilities.

Meanwhile, in Hanoi, according to a survey of Batdongsan.com.vn, the residential land segment of VND 1 billion in the two districts of Nam Tu Liem and Bac Tu Liem is attracting people with real and real-life needs. Specifically, in Nam Tu Liem, the plots of Xuan Phuong, Phuong Canh, Mieu Nha (Tay Mo), Dai Mo... with the area of 30-35m2 are being sought and bought the most, the prices of the lots range from 22- 37 million dong/m2. These lots are mostly in small alleys, cars cannot access.

For example, the land is at the end of Tran Huu Duc street, in a small alley in Xuan Phuong with the selling price of 30-32 million VND/m2. The land in the small alley in Phuong Canh is also priced from 30-35 million VND/m2. Many plots of land at Tu Hoang (Phuong Canh) near the University of Industry have a fairly soft asking price, from VND 24-31 million/m2. Residential land in 2m small alleys in Mieu Nha (Tay Mo) is offered at 28-32 million dong/m2. Land in the small alley in Dai Mo has price ranging from 25-30 million/m2.

In the North Tu Liem area, the segment of residential land worth 1 billion is concentrated in the areas of Dong Ngac, Lien Mac and Tay Tuu. Specifically, the land in the small alley in Tay Tu has the price ranging from 22-24 million VND/m2, the land in Lien Mac ranges from 19-22 million VND/m2, the land in Dong Ngac offers for sale from 29-36 million VND/m2. Land lots in these areas are common in areas of 30-40m2. Thus with a total amount of 650 million - 1.2 billion, buyers were able to own a piece of land in Hanoi.

According to Bach Cuc

Hanoi continues to scarce new supply of luxury apartments in the last months of the year

Hanoi continues to scarce new supply of luxury apartments in the last months of the year

According to JLL, the SBV's tightening of high-end real estate credit along with the limited land bank in the central area has led to a shortage of high-end and luxury segments in the next few years.

A recent JLL real estate market report said that after a period of strong growth, the supply from newly launched projects tended to slow down. The number of launches in Q2/19 reached 5,900 units, nearly half of the previous quarter's supply, mainly from the next phases of existing projects. This is the lowest level recorded since the market recovered in 2014. The majority of newly launched projects are small scale with a total of less than 500 apartments. According to JLL, this new supply shortage will continue from now until the end of the year.

The selling price per project remained stable or increased slightly after a period of strong growth. Average market price excluding new projects in the quarter increased by 0.5% QoQ and 6.9% YoY, In order to attract buyers, in the context of increasingly tightening lending policies, investors Since the company has maintained a stable price, many preferential sales policies have been applied to accelerate inventory. The applied policies include extending the installment period, cash discount from 3% to 6% for customers who do not use the loan package.

The new supply is expected to reach 10,000-15,000 units in the remaining two quarters of 2019, the new supply will continue towards the Affordable and Mid-end product segments aimed at housing demand. Tightening high-end real estate credit along with tight land bank in the CBD resulted in the lack of supply of the Luxury segment in the next few years. The volume of transactions in the market in the coming time may be affected by buyers who tend to be more cautious and selective in the absence of loan support packages and a slowing economy.

Regarding the transaction, the number of sold apartments reached over 4,660 units, 65.3% lower than the previous quarter. Investment demand was cooled in Q2.19 after a period of strong growth. Increasing interest rates and being more prudent in the process of loan application processing by banks make it more difficult for home borrowers. However, the demand for accommodation in the Affordable and Mid-end segments remains good.

According to JLL's assessment, the apartment is about to be completed and smart apartments are quite attractive in the market recently, the sales rate of this type of product tends to be higher than ordinary apartments.

Actual observations show that currently the projects that are open for sale and are interested in the market are mainly projects launched from previous years preparing to hand over. In the smart apartment segment, Sunshine City is invested by Sunshine Group, this is one of the smart apartment projects attracting customers in the West Lake area.

For the apartment is being completed, the current investors use services and utilities to attract customers. Recently, at the launching ceremony of Dreamland Bonanza service and apartment project, located at 23 Duy Tan Street, to attract guests Vinaland & BIC Vietnam offers a wide range of high-end free utilities. For residents such as smart indoor pool, GYM gym, 3D golf area, children's playground, walking garden... Especially, in the project of interior equipment, the investor has been equipped with thorough and complete from the dryer body, shower, basin faucet Brand Bravat German technology to the heater when taking a winter shower. In particular, the apartment will be free wifi transmitter.

In addition to attracting customers with available utilities, many projects are starting to have unique tactics to entice home buyers with various forms such as Stellar Garden project (Thanh Xuan) to install more. escape ladder system in the balcony area when a fire occurs, some high-end apartment projects are committed to buying apartments for customers with interest rates up to 10-15%.

According to JLL and many research units in the market, although the new supply in the apartment market in Hanoi is scarce, the competitiveness in the market is still very large because the inventory of apartments is still at Therefore, investors continue to offer discount policies, promotions and improve utilities to attract buyers.

According to Nam Anh