Home prices in Vietnam continued rising in July, according to a monthly report of the Vietnam Real Estate Association (VNREA) released last week.
Price hikes were seen in almost all segments including apartment, townhouse, villa and land lot. Prices of mid- and hi-end apartments in finished projects picked up 4-6%.
In HCMC, home prices in the mid- and hi-end segments edged up last month and houses targeting middle-income earners turned more attractive to homebuyers.
A number of projects in the mid-end segment were offered for sale in July such as Richmond City, Moonlight Garden, Diamond Lotus Riverside and Citisoho. This segment accounted for some 37% of the housing products sold in July.
According to the VNREA, developments on Hanoi’s housing market were opposite to HCMC’s last month as luxury apartments outpaced mid- and low-end ones. Real estate developers put up for sale houses in Vinhomes Thang Long, Thanh Xuan Tower and Aqua Central projects.
Two new projects provided 700 apartments to Hanoi’s property market in July. In the two major cities, mid-end apartments made up 82% of new houses offered for sale.
Overall, apartments located in good locations near the city center and key infrastructure facilities saw their prices going up.
Demand for land lots and townhouses surged in July, sending their prices up 4-12% depending on locations. Investors of residential areas like Cat Tuong Duc Hoa and Phu Dong Him Lam in HCMC, Phu Luong and An Nam Khanh in Hanoi and My Phuoc 4 in Binh Duong Province have looked for homebuyers.
Notably, land lots and townhouses shot up 20-40% in prices while those near metro lines in HCMC, elevated urban railways in Hanoi, infrastructure facilities and public utility works soared 45-50%.