The primary selling prices of condominiums in Hanoi experienced a sharp 36% year-on-year and 12% quarter-on-quarter increase in 2024, according to CBRE Vietnam, a foreign real estate service company.
Condominiums (condo) purchased by foreign buyers in Thailand fell 6% year-on-year in the second quarter of 2024 to 3,342 units, down 18% in value to 14.8 billion THB (449 million USD).
Prices of condominiums in Hanoi are catching up with prices in Ho Chi Minh City in both primary and secondary markets, according to CBRE Vietnam’s report on the capital's real estate market in the first half of this year released on July 9.
The new launch of condominiums in the second quarter of this year (Q2) nearly tripled that of the previous quarter, showing recovery of sales activities, according to CBRE Vietnam's quarterly report on the Hanoi market released at a recent online press conference.
Supply of landed houses and villas in Ho Chi Minh City is short since developers are wary of this segment due to high costs and extended procedures, experts said.
Condominiums remain the best bet for people living in big cities thanks to their affordable prices, and not surprisingly the HCM City apartment market is showing signs of recovering after the slowdown caused by the Carina Plaza fire at the beginning of this year, insiders said.
Vietnam’s real estate sector has witnessed significant participation from Japanese investors through cooperation with local businesses recently, promising to bring benefits to the real estate market.
