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Last updated: Friday, March 22, 2019

 

Vietnam Property 2019: Ho Chi Minh City and Neighbouring Areas in Focus

Posted: Friday, December 28, 2018


Hanoi real estate market will experience little fluctuation as the real estate price in the capital city in general is higher than that of Ho Chi Minh City. In contrast, the Ho Chi Minh City market will still have many big changes as investors are still very interested in real estate products in this area, said Mr. Nguyen Quoc Anh, Deputy General Director of batdongsan.com.vn when asked about the real estate market outlook for 2019.

FDI inflows into the real estate market in 2018 increased sharply, reaching US$5.9 billion. In particular, two smart metropolitan areas in Nhat Tan area and Lotte project accounted for US$4.8 billion. At the Vietnam Real Estate Summit (VRES 2018) organised recently by batdongsan.com.vn, Mr. Nguyen Quoc Anh said that the 2018 real estate market had many bright colours.

According to statistics of batdongsan.com.vn, in 2018, the most sought-after real estate segment was apartments, followed by street houses, houses and duplex villas. Regarding the number of postings, the land segment was the most posted, with more than one million posts. The level of interest in real estate types in Hanoi and Ho Chi Minh City accounted for 70 per cent of transactions in Vietnam. In Hanoi, 35 per cent of searches were apartments, while private houses accounted for 26 per cent. Also in Ho Chi Minh City, the search rate for apartments and private house were 26 per cent and 29 per cent respectively.

Based on the data of areas most interested and sought by customers, Ho Chi Minh City is the leading region in the country as it accounts for 41.8 per cent of the searches, followed by Hanoi with 29.4 per cent, Binh Duong 4.5 per cent, Da Nang 4.2 per cent, Dong Nai 3.4 per cent and Khanh Hoa 3 per cent.

The summary of batdongsan.com.vn shows that in Hanoi market, the unit area from 60-70m2 and the price under VND20 million/m2 were most interested. In Ho Chi Minh City, the price range from VND20-35 million/m2 and the apartment area from 60-70 m2 attracted the most interest. About the price fluctuations, in Ho Chi Minh City, price increased from 5 to 9.3 per cent during the period 2016-2017. In Hanoi, the average price has been unchanged through the years. Prices in Ho Chi Minh City were higher than in Hanoi, commensurate with the selling rates over the years.

“In 2019, the real estate market will continue to grow steadily thanks to the firm macro-economic launchpad. According to the forecast, GDP will continue to grow by the speed of 2018 at 6.8 per cent and with stable inflation under 4 per cent,” Mr. Nguyen Quoc Anh said.

Apartments in Hanoi and the Northern region will develop due to plenty room for growth. In the South, the luxury apartment trend will continue to emerge in 2019 but the supply is limited. The searchers will continue to be interested in the affordable apartment segment. The neighbouring provinces of Ho Chi Minh City such as Long An and Binh Duong have reduced transactions in the fourth quarter of 2018 but will have a new development in 2019, when Ho Chi Minh City's available residential land is not much. ”- Mr. Quoc Anh said.

Real estate in the Northern provinces, especially Hanoi’s neighbouring localities and the areas with concentrated industrial zones such as Vinh Phuc, Bac Ninh, Bac Giang and Ha Nam can be exciting. “The CPTPP Agreement will officially come into effect in 2019 and US-China trade war will cause many units to shift their production base to Vietnam, we will expect that the real estate in the Northern region, especially areas with industrial plants, will increase sharply in 2019,” Mr. Quoc Anh stressed.

Luong Tuan








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