Prices up 1.7% and 1.3% for HCMC and Hanoi apartments in 4Q2017

/ EdgeProp
January 16, 2018 9:00 AM SGT
Prices for apartments in Ho Chi Minh City’s (HCMC) primary market rose 1.7% q-o-q and 3.6% y-o-y in 4Q2017, according to the Vietnam Property Market Brief by JLL.
Source for table & charts: JLL Research
A total of 15,193 units were launched in the Vietnamese city in 4Q2017, which is a 29% increase q-o-q and 71.2% increase y-o-y. Most of the units launched were in the mid-end segment, which accounted for 45% of total launches. Sales, totalling 16,181 units in 4Q2017, outpaced the number of units launched. Units priced from US$1,000 to US$2,000 psm ($124 to $248 psf), the mid-end segment, accounted for 58% of the sales volume, notes JLL. And a good proportion of the sales, 35.2%, were of units that will be completed and handed over by end-2018.
In HCMC’s secondary market for apartments, prices also rose in 4Q2017, but the pace of 0.1% q-o-q and 0.5% y-o-y was more subdued compared with those in the primary market. The performance was better than in 3Q2017, however, which registered a price decline of 0.7% q-o-q and a slight 0.1% y-o-y increase.
In the landed residential segment, which comprises villas and townhouses, primary market prices fell 3.8% q-o-q in 4Q2017, but registered a 13.6% y-o-y increase. The number of units launched totalled 1,802, which is a 30% q-o-q increase. Owing to strong market momentum, 2,139 units were sold, says JLL, who adds that this is nearly triple the 4Q2016 figure, and the highest on record since 2000.
According to projections by JLL, nearly 36,000 apartment units and 3,500 landed housing units will be launched in HCMC in 2018, and more than 50,000 apartment units will be completed. Most of the apartments launched will be in the affordable segment, mainly located in Districts 2 and 9. Sales volume will be...