{"id":43506,"date":"2017-02-09T18:10:29","date_gmt":"2017-02-09T11:10:29","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-luxury-condo-buyers-are-excited-about-ho-chi-minh-city-this-year\/"},"modified":"2017-02-09T18:12:49","modified_gmt":"2017-02-09T11:12:49","slug":"why-luxury-condo-buyers-are-excited-about-ho-chi-minh-city-this-year","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/why-luxury-condo-buyers-are-excited-about-ho-chi-minh-city-this-year\/","title":{"rendered":"Why luxury condo buyers are excited about Ho Chi Minh City this year"},"content":{"rendered":"


\nA seven percent y-o-y increase in luxury condo prices expected this year
\nView towards the HCMC center and Ben Thanh market. Phong Vu Hong\/Shutterstock
\nVietnam is one of Southeast Asia\u2019s economic growth engines. With foreign direct investment (FDI) at an eight-year high, especially from Japan, Singapore, and South Korea, and vigorous GDP growth rates, the country is a remote simulacrum of its formerly war-torn self, despite concerns of a real estate bubble.
\nNever is this sentiment more bullish than in Ho Chi Minh City, a condominium market that CBRE Vietnam calls \u201cupbeat.\u201d With 43,861 units due for launch this year in the metropolis, the city, Vietnam\u2019s largest, will easily surpass last year\u2019s launches of 37,419 condos. Around 1,627 of this year\u2019s launches will be in the luxury segment or properties with primary prices of more than USD3,500 per square metre.
\nThe absorption rate for luxury condos in Ho Chi Minh City this year is expected to coast at more than 50 percent as in 2016. Buoyed by new products with unique designs in prime locations, luxury condo prices are projected to jump by 7 percent year-on-year in 2017.
\n\u201cBuyers are nowadays better-informed and more demanding, and they look for not only a home but also a community,\u201d said Duong Thuy Dung, director of CBRE Vietnam\u2019s research and consulting department. \u201cOn-time delivery is not enough; new projects should also have good facilities and offer a lively community.\u201d
\nMore: Will Vietnam blow a property bubble in 2017?
\nCBRE researchers noted that prices of luxury projects in HCMC are still low relative to other Southeast Asian markets. \u201cThis segment is still attractive to the local well-off as well as to foreigners, whose home ownership rights in Vietnam were considerably relaxed in 2015,\u201d CBRE stated in its 2017 outlook for Ho Chi Minh City.
\nAlthough 35,008 units were sold in total in 2016, down 4 percent from 2015, the average sales price in HCMC last year increased 4.6% year-on-year to USD2,104 per square metre.
\nIn Hanoi, midmarket units or those priced between USD800 and USD1,500 per square metre characterised a majority of launches (56 percent). However, two luxury projects were launched in the Vietnamese capital\u2019s Westlake area. Overall, 30,000 new condos were launched in the city in 2016, with 21,188 units in sales by the end of the year.
\nAround 13,000 new high-end units or those in the price range of USD1,500 and USD3,500 per square metre will also be launched in HCMC, but CBRE surveyors are cautions in this regard. \u201cIt should be noted that an increasing interest rate, the announcement of circular 36 and the end of the VND30,000 billion house mortgage package will reduce demand and sales momentum in the middle segments,\u201d CBRE stated in its report. \u201cImprovements in infrastructure continue to support first-home buyers by providing easier connection between the CBD and suburban districts.\u201d
\nRead next: The ultimate guide to SE Asian real estate in 2016
\n
\nSource : property-report.com
\nRead more…Why luxury condo buyers are excited about Ho Chi Minh City this year<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A seven percent y-o-y increase in luxury condo prices expected this year View towards the...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-43506","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-bjI","jetpack-related-posts":[{"id":12400,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vietnam-property-awards-2016-final-shortlist-announced\/","url_meta":{"origin":43506,"position":0},"title":"Vietnam Property Awards 2016 final shortlist announced","date":"May 9, 2016","format":false,"excerpt":"\r Judging panel reveals the final shortlist for Vietnam\u2019s biggest awards programme and justifies the buzz around the country\u2019s real estate market It\u2019s time to raise a glass for this year\u2019s official shortlist of nominees for the Vietnam Property Awards 2016, the most exclusive and most respected industry awards programme\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1489,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hit-hcmc-luxury-condo-to-test-foreign-market-at-sg-weekend-launch\/","url_meta":{"origin":43506,"position":1},"title":"Hit HCMC luxury condo to test foreign market at SG weekend launch","date":"January 14, 2016","format":false,"excerpt":"\r The District 2-based project is already a favourite among the affluent crowd and expats The Nassim | Rendering courtesy of Hongkong Land A partnership between Hongkong Land and leading Vietnamese developer SonKim Land, The Nassim\u00a0was recently launched in Ho Chi Minh City a few months after the introduction of\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2016\/01\/2043_TheNassim_04_LO.jpg?fit=740%2C436&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":16172,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vietnam-property-awards-2016-the-complete-winners-list\/","url_meta":{"origin":43506,"position":2},"title":"Vietnam Property Awards 2016: the complete winners list","date":"June 11, 2016","format":false,"excerpt":"\r Nam Long Investment Corporation wins Best Developer (Vietnam), while\u00a0The D\u00e0lat at 1200 Country Club and Private Estate sweeps with 5 awards An action-packed evening full of celebration and surprises, the second annual Vietnam Property Awards Gala Dinner saw Nam Long Investment Corporation crowned Best Developer 2016. The housing developer\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":97018,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/capitaland-buys-landed-housing-site-in-vietnam-for-s81-4mil\/","url_meta":{"origin":43506,"position":3},"title":"CapitaLand buys landed housing site in Vietnam for S$81.4mil","date":"August 31, 2018","format":false,"excerpt":"\r CapitaLand is buying a prime site in Ho Chi Minh City for VND1,380 billion (approx. S$81.4 million), with the 60,000 sq m land parcel expected to contain over 100 landed housing when the development is completed by 2021. This marks the Singapore-listed property developer\u2019s third acquisition in August 2018\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":66922,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/more-luxury-apartment-projects-in-ho-chi-minh-city\/","url_meta":{"origin":43506,"position":4},"title":"More luxury apartment projects in Ho Chi Minh City","date":"September 20, 2017","format":false,"excerpt":"\r The booming supply of luxury apartments has made the HCMC market more competitive. New high-end apartment projects developed in the central districts of Ho Chi Minh City have made the competition on this million-dollar market more intense.\u00a0 By Phuong Uyen Since the beginning of this year, many new luxury\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15846,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/vietnams-real-estate-dragon-ascends\/","url_meta":{"origin":43506,"position":5},"title":"Vietnam\u2019s real estate dragon ascends","date":"June 8, 2016","format":false,"excerpt":"\r Vietnam\u2019s recent strong macroeconomic performance and foreign direct investments have served to supercharge the country\u2019s thriving property sector even further Major property markets in Vietnam such as the capital Hanoi are coming up smelling of roses in the current market surge This is Part One of\u00a0Property Report\u2019s three-part series\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/43506"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=43506"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/43506\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=43506"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=43506"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=43506"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}