Medium and high-end apartments occupy the Ho Chi Minh City market
Colliers International Vietnam said that the group of financially qualified customers owning mid- and high-end apartments is increasingly “rejuvenated”, the trend of rising prices in these segments will continue in 2021.
According to the latest report of Colliers International Vietnam, in 2021, Ho Chi Minh City expects to receive a supply of about 28,000 apartments, mainly from projects in Thu Duc City and District 7 of Vingroup, Keppel Land, Hung Thinh,…
Among these, Laimian City project and Senturia Q9 Central Point in Thu Duc City is expected to contribute nearly 14,000 units to the market. This project is invested by Home Development and Business JSC (HDTC), likely launched in the second quarter of this year, with an asking price of about USD 2,812 per sqm.
Also in the second quarter, 10,000 apartments from Vinhomes Grand Park (phase 1) are expected to offer ho Chi Minh City at an expected asking price of USD 1,428 per sqm.
On the side of Hung Thinh Group JSC, in the period of 2021–2023, three projects Lavita Charm (Thu Duc City), Q7 Saigon Riverside and Q7 Boulevard (District 7) are expected to bring supply of more than 5,700 units with the asking price of about USD 1,146/sqm, USD 1,504/sqm and USD 1,762,000, etc.
Keppel Land also has two projects in Thu Duc City: Saigon Sport City (launched in the first quarter of 2021) and Empire City (fourth quarter of 2022) with a supply of more than 4,400 că, the asking price is expected to be about USD 3,653/sqm and USD 6,000/sqm, according to the company.
In the third quarter of this year, Grand Manhattan of No Va Real Estate Investment Corporation (code: NVL) is expected to have the highest asking price, nearly 6,500 USD / sqm. This project is located in District 1, capable of supplying 967 apartments.
There is also a large supply from Eco Green projects (Xuan Mai Corp, 4,000 units); Sunshine City Saigon (Sunshine Group, 3,748 units); Saigon Riverside City (1,729 units);…
Colliers cited some experts as citing the price of condominiums in HCMC this year is expected to increase by about 9% compared to 2020. The group of financially qualified customers owning mid- and high-end apartments is increasingly “rejuvenated”.
In the context of land funds in large cities are increasingly scarce and prices are rising, the trend of moving to the edge will continue. Experts said that in the next 5–10 years, Thu Duc City will be the focus of the market.
It is forecasted that by 2025, the cumulative supply of Thu Duc city can reach 198,000 units, 3.6 times more than in 2005.
