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