Total sales volume of 2016 falls

House prices have remained stable this year, meanwhile, compared to 2015, sales volume has declined in both Northern and Southern markets. 

At a market assessment meeting held on December 16, Pham Van Thuong - Head of Real Estate Market Management, under Department of Housing and Real Estate Market Management said, the market has continued to rebound this year. However, sales volume has fell compared to the figures of 2015.

Hanoi market has seen approximately 14,000 successful transactions this year. The supply of new apartments is mainly located in the Western area. Most of projects are in the medium and high-end segments. Supply of affordable housing is limited. 

According to Mr Thuong, house prices in 2016 have remained stable, except from slight increase in some major projects which are ready for handover. Specifically, according to report of Vietnam Real Estate Broker Association, in November, the market recorded over 5,500 successful transactions. 

In particular, Hanoi market saw 500 luxury apartments, 516 affordable apartments, 583 medium apartments and 120 land plots sold last month.

In Ho Chi Minh City, about 1,310 luxury apartments, 112 affordable apartments, 2,021 medium apartments and 182 land plots found their new owners. The association also revealed that, total sales volume in November is lower than September and October.

Mr Thuong warned that high-end housing supply was abundant, while affordable housing and social housing supply was still limited. In the two major cities, most of apartments offered for sale this year are mainly high and middle-end units.  Meanwhile, there is no new social housing project launched.

(Source: Infonet)