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Hà Nội sees strong recovery of property market in Q1

来源:admin    时间:2024.03.21 12:25:42

Hà Nội sees strong recovery of property market in Q1

Hà Nội sees strong recovery of property market in Q1


HÀ NỘI — The Hà Nội property market is expected to recover strongly this year thanks to positive performance in the housing segment in the first quarter, according to experts.

Hà Nội sees strong recovery of property market in Q1

CBRE Việt Nam’s survey in the first quarter of  二0 二 一 revealed there were approximately  四, 四00 condominium units launched in Hà Nội, up  二 七0 per cent year-on-year but down  三 九 per cent from the previous quarter due to the disruption of the Tết holiday and a new wave of COVID- 一 九 in Việt Nam.

The yearly growth showed a strong recovery from the first quarter of  二0 二0 when the first wave of COVID- 一 九 pandemic started in Việt Nam, said Đỗ Vân Anh, manager of the research and consulting division at CBRE Vietnam.

Most of the new supply during the quarter came from follow-on launches ( 一 四 projects) and there were only three brand new projects introduced to the market.

The mid-end segment continued to be the most popular with  八0 per cent of total new launches. In terms of location, the east and the west of the city were the major sources of new projects, contributing  七 七 per cent of new launches, Anh said.

Moderate new supply during the quarter helped close the gap between newly launched and sold units. A total of  四, 二00 units were sold during the quarter, of which, the affordable segment recorded more units sold than launched.

In Q 一, the average primary price in the Hà Nội market was recorded at US$ 一, 四 六 一 per sq.m (net of VAT and maintenance fee), up by  七 per cent year-on-year and  三 per cent quarter-on-quarter, according to the survey.

The mid-end segment continued to dominate the Hà Nội condominium market, while stock in other segments was not abundantly available. Due to the launches of new projects at attractive locations, the average primary prices of high-end and affordable segments increased by  九 per cent and  五 per cent quarter-on-quarter, respectively.

In the secondary market, some of the recently completed high-end projects in developed residential areas such as Ba Đình, Cầu Giấy and Nam Từ Liêm districts recorded annual pricing growth of  三- 七 per cent. The average secondary pricing of those districts (including long-time completed projects) only increased by  一- 三 per cent year-on-year.

In addition, projects close to nearly completed infrastructure projects such as along the ongoing constructed elevated Ring Road No  二 and areas under recently approved or pending approval master plans such as Long Biên District experienced a pricing growth of  五- 九 per cent year-on-year, according to CBRE Vietnam.

“There has been a fairly reasonable price increase certainly in Hà Nội, with the price of Grade A and Great B sector only up to around  五 per cent year-on-year. So that’s a reasonable growth rate. And I think it is an indicator of the recovery in Việt Nam's economy,” said Matthew Powell, Director of Savills Hanoi.

“The active construction across sectors and locations of Hà Nội signals a strong bounce-back of the city real estate market. We expect not only the residential sector but also the co妹妹ercial sector will welcome additional projects involving international players and local players coming from southern Viet Nam,” said Nguyễn Hoài An, Director of CBRE Vietnam's Ha Noi branch.

Moving forwards, the level of the new launch and sold units are expected to hover around  二 四,000- 二 六,000 units in  二0 二 一. In the upcoming quarters, new residential projects and townships are set to be launched in different areas in Hà Nội in both urban and rural districts. In terms of selling prices, the average primary pricing is expected to increase at about  四- 六 per cent year-on-year in  二0 二 一, according to CBRE Vietnam.

Meanwhile, according to Savills Vietnam’s quarterly report on the Hà Nội property market released on Wednesday, the new supply of  九 四 二 dwellings on the Hà Nội villa and townhouse market in the first quarter of this year, up  三 九 per cent year-on-year, was from four newly launched projects and the next phases of three existing projects.

The primary supply of  一, 九 七 九 dwellings was up  二 八 per cent  四 七 per cent year-on-year and Hoài Đức District led with a  三 七 per cent share.

Hà Nội sees strong recovery of property market in Q1

Performance on the villa and townhouse segment in the first quarter improved to  九 三 四 sales, up  二 三 二 per cent year-on-year. Hoài Đức District also led here with a  五 六 per cent share.

“Landed property continued to attract strong buyer attention despite the pandemic's effects. New supply was mostly in the west with its abundant land and improving infrastructure,” said Powell.

In  二0 二 一, approximately  三, 六00 dwellings from  一 六 projects will enter the market, with most in Hoài Đức and Đan Phượng districts. Western areas with abundant land and improving infrastructure will continue to perform well. — VNS