No new projects for sale were recorded
On March 12, DKRA Group announced a report on the residential real estate market in Ho Chi Minh City and surrounding areas for January & February 3.
Accordingly, in the apartment segment, new supply in the first 2 months of the year decreased, only 66% compared to the same period in 2023, concentrated in the period before the Lunar New Year, distributed mainly in Ho Chi Minh City and Binh Duong. and Ba Ria – Vung Tau.
In the first 2 months of the year, Ho Chi Minh City and surrounding areas did not have any new apartment projects for sale. Current supply comes from projects that have been offered for sale previously.
Notably, in the first 2 months of this year, the apartment market in Ho Chi Minh City and surrounding areas (Binh Duong, Dong Nai, Ba Ria - Vung Tau, Long An and Tay Ninh) did not record any additional projects. Let's open a new sale. During this period, market supply came from 6 projects, but all were in the next sale phase.
Accordingly, the apartment supply in Ho Chi Minh City accounts for the majority with more than 300 units. The remaining nearly 140 apartments are mainly concentrated in Binh Duong and Ba Ria - Vung Tau provinces. Thus, the number of apartments opened for sale in the first 2 months of this year still decreased by 34% compared to the same period in 2023.
Although many investors have applied promotional policies such as quick payment discounts, extended payment terms, opening gifts... to stimulate market demand, the sales of new apartments in recent times have increased. still down 53% over the same period last year due to the impact of the extended Lunar New Year holiday.
Among them, Grade B apartments continue to lead the market, accounting for 93% of new consumption and concentrated mainly in the West area of Ho Chi Minh City.
In the context of a quiet market, policies of quick payment discounts, extended payment terms, and open-sale gifts continue to be applied by most investors to stimulate market demand.
The primary selling price level did not fluctuate much, with a local increase of 3% - 6% recorded in a number of projects in Ho Chi Minh City with complete legal status, rapid construction and handover progress.
New apartments in Ho Chi Minh City are selling prices ranging from 52,5 - 82 million VND/m2. Meanwhile, in Binh Duong province, new apartment prices range from 35,5 to 48,7 million VND/m2. In Ba Ria - Vung Tau province, new apartment prices range from 48,3 to 52,8 million VND.
In the resort real estate segment - resort villas and resort real estate - Condotel, the market also did not record any new projects in the first 2 months of the year, each segment only recorded 1 project in the opening phase. Next sale, supply and consumption rate both decrease sharply.
The land segment became a rare bright spot in the market, but only recorded 1 new project and 3 projects in the next phase of sale, supplying 138 plots to the market, down 14% compared to the previous year. same period in 2023.
It is expected that new supply will achieve many improvements
According to DKRA Group, in the first 2 months of 2024, supply and new pepper volume in the land segment recorded a decrease of 14% and 25% respectively compared to the same period in 2023.
In particular, transactions focused on product groups with an average price of about 21,5 million VND/m2. Long An province is the main force in the proportion of new supply and consumption of the market with rates reaching 60% and 58% respectively.
Ho Chi Minh City is the locality leading the market with a proportion of 52% of supply and 94% of new consumption.
The primary selling price level tends to be flat compared to the end of 2023. The selling price of new land in Long An is from 17,2 - 54,9 million VND/m2, in Binh Duong the selling price ranges from 14,5. 16 - 2 million VND/m12,3 and in Dong Nai the selling price is from 13,7 - 2 million VND/mXNUMX.
Elsewhere, the secondary market tends to move sideways compared to the end of 2023. Market liquidity is at an average level, projects have completed infrastructure and legality, and the level of market creation is high. … attracts the attention of investors.
DKRA Group expects that new supply in the coming months will see many improvements, with most products concentrated in areas bordering Ho Chi Minh City.
