03-Dec-2022 Intellasia |
Vnexpress |
5:02 AM
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Prices of new apartment rose in southern localities in October, but sales were few and far between, according to a real estate consultancy.
Prices were up 4-10 percent compared to early 2022 in HCM City and provinces such as Binh Duong and Long An, DKRA Vietnam’s latest report said.
According to Savills Property Price Index, prices of mid-range apartments in HCM City’s Districts 9 and Nha Be increased 13 percent and 5 percent in the third quarter against the previous quarter.
A mid-priced apartment costs up to VND10 billion (US$403,200), and a high-end one, VND30 billion.
Surveys in HCM City by VnExpress found prices increased by 10 percent in the primary market but fell by 10-20 percent in the secondary market.
Nguyen Mac Hoai Nam, CEO of Nam Phat Consulting Service Company, said primary market prices increased mainly because of higher legal, financial and construction costs.
But in both the primary and secondary markets, liquidity decreased sharply amid credit tightening by banks and a wait-and-see attitude adopted by buyers.
Many people are waiting to fish the bottom, according to experts.
The DKRA report said many apartment projects had an absorption rate of only 20 percent with few touching 50%.
https://e.vnexpress.net/news/industries/apartment-price-surges-in-october-but-demand-slumps-4542798.html
Category: Business, Vietnam
Article source: https://www.intellasia.net/apartment-price-surges-in-october-but-demand-slumps-2-1123813