Primary apartment prices in Ho Chi Minh City set a new record, averaging VND80 million/m2

According to Cushman & Wakefield, in the first quarter of 2022, Ho Chi Minh City recorded more than 17,000 apartments offered for sale on the market, an increase of 87% compared to 2022. In the fourth quarter of 2022 alone, new sales reached 983 units, down 76% compared to the previous quarter.

Primary selling prices of apartments in Ho Chi Minh City in the fourth quarter of 2022 continued to increase by 21% compared to the previous quarter, about 3,400 USD/m2 (about 80 million VND).

According to a report by real estate services company Cushman & Wakefield, in the fourth quarter of 2022, primary apartment prices in Ho Chi Minh City continued to increase sharply, reaching VND80 million/m2.

This increase is mainly due to new sales launches from super luxury, high-end and high-end projects such as The Opusk Residence Thu Thiem (Metropole Thu Thiem phase 4), De La Sol and Zeit River Thu Thiem...

It is noteworthy that health factors are starting to be focused on in the design of project ideas and apartments with lots of green space, ventilation and modern technology to help improve living standards. Regarding payment policies, with the tightening of credit, many payment policies target customers with cash in hand, mainly prioritizing quick payment with high discounts and many incentives. Regarding the Ho Chi Minh City townhouse market, in 2022, the new supply will reach 1,200 units, up 12% year-on-year due to the market recovery compared to 2021 when it was sluggish due to COVID-19.

Meanwhile, the number of units sold decreased by 3% due to market sentiment slowing down and buyers being hesitant amid uncertainty. According to data from Cushman & Wakefield, primary prices decreased slightly by 0.2% quarter-on-quarter due to some projects offering discounts, but prices still doubled compared to the same period last year as supply mainly came from the high-end segment in prime locations.

In 2023, due to limited land for development and difficulties in raising capital, new supply for the real estate market is expected to be less than 900 units, down 27% compared to 2022. Compared to previous projects, most new projects have more amenities with completed external and internal infrastructure.

Cushman & Wakefield said that projects focus on completing amenities, aiming to build communities, with new supply continuing to move to non-central areas. On the customer side, the market is moving towards real-life buying needs, instead of buying for investment as before. Projects with clear legal status and flexible payment schedules in the context of capital difficulties will attract customers.

Source: https://www.congluan.vn/gia-can-ho-so-cap-tai-tphcm-thiet-lap-ky-luc-moi-binh-quan-80-trieu-dong-m2-post229642.html