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)
According to the company’s report on the housing market in Ho Chi Minh City and surrounding provinces in 2021, there were 41 apartment projects with about 21,138 units, mostly in HCM City and Binh Duong province, entering the market. They sold 17,122 units.
In HCM City, supply and demand decreased sharply from 2020 and fell to the lowest levels since 2015.
Luxury apartments in the city reached new price levels of nearly 400 million VND (17,555 USD) per square metre.
According to another real estate service provider Cushman & Wakefield, 25,000-30,000 new apartments are expected to enter the market in HCM City this year, mostly in the luxury and high-end segments.
The supply would mostly be in the new Thu Duc City, and online sales channels would remain popular.
The average selling price of luxury and high-end apartments topped 143.6 million VND (6,266 USD) per square metre in the fourth quarter of 2021, up 23 percent year-on-year.
Mid-range apartments cost 56.7 million VND (2,474 USD) and affordable units cost 40.9 million VND (1,785 USD), up 15 percent and 26 percent year-on-year.
The total number of new and old apartments sold last quarter was nearly 3,000, with mid-range apartments accounting for 82 percent and high-end ones for 11 percent, according to Cushman & Wakefield.
No new affordable project was sold.
High-end apartments are those in prime locations and costing above 3,000 USD, mid-range apartments are in convenient locations and cost 1,800 – 3,000 USD, and the affordable segment sells at below 1,800 USD./.