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2 Vietnam's biggest cities see apartment prices rising

HANOI
2024-07-22 15:33

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HANOI, July 22 (Xinhua) -- Apartment prices are rising in Vietnam's capital Hanoi and southern Ho Chi Minh City amid a lack of supply, VnExpress reported Monday.

According to property consultancy CBRE Vietnam, Hanoi apartment prices rose 25 percent year-on-year in the second quarter of this year.

In the first half of the year, the capital's sales topped 12,200 units, higher than in the whole of 2023, with more than 80 percent happening in the second quarter, said CBRE.

CBRE data shows that while Ho Chi Minh City's supply this year has been only 40 percent of last year's, the number of transactions has reached 80 percent.

An estimated 3,800 new apartments are set to be launched in Ho Chi Minh City in the remaining months of the year, but prices are unlikely to go down, it said.

In Hanoi, around 9,000 new apartments are set to enter the market, the highest in the last four years.
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