High-end segment to continue driving HCM City apartment market
The luxury and mid-priced apartment segments will continue to lead the market in 2022, while affordable apartments will remain scarce, according to property consultant DKRA Vietnam Joint Stock Company.
Apartment buildings in the new Thu Duc City. The luxury and mid-priced apartment segments will continue to lead the market in 2022, while affordable apartments will remain scarce. (Photo: VNA
HCM City (VNS/VNA) - The luxury and mid-priced apartment segments willcontinue to lead the market in 2022, while affordable apartments will remainscarce, according to property consultant DKRA Vietnam Joint Stock Company.
According tothe company’s report on the housing market in Ho Chi Minh City and surroundingprovinces in 2021, there were 41 apartment projects with about 21,138 units,mostly in HCM City and Binh Duong province, entering the market. They sold17,122 units.
In HCM City,supply and demand decreased sharply from 2020 and fell to the lowest levelssince 2015.
Luxuryapartments in the city reached new price levels of nearly 400 million VND (17,555USD) per square metre.
According toanother real estate service provider Cushman & Wakefield, 25,000-30,000 newapartments are expected to enter the market in HCM City this year, mostly inthe luxury and high-end segments.
The supplywould mostly be in the new Thu Duc City, and online sales channels would remainpopular.
The averageselling price of luxury and high-end apartments topped 143.6 million VND (6,266USD) per square metre in the fourth quarter of 2021, up 23 percentyear-on-year.
Mid-rangeapartments cost 56.7 million VND (2,474 USD) and affordable units cost 40.9million VND (1,785 USD), up 15 percent and 26 percent year-on-year.
The totalnumber of new and old apartments sold last quarter was nearly 3,000, withmid-range apartments accounting for 82 percent and high-end ones for 11 percent,according to Cushman & Wakefield.
No newaffordable project was sold.
High-endapartments are those in prime locations and costing above 3,000 USD, mid-rangeapartments are in convenient locations and cost 1,800 – 3,000 USD, and theaffordable segment sells at below 1,800 USD./.
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Apartment buildings in the new Thu Duc City. The luxury and mid-priced apartment segments will continue to lead the market in 2022, while affordable apartments will remain scarce. (Photo: VNA 
