HCMC housing market shows clear signs of recovery

(VOV) - Residential real estate sales are pushing Ho Chi Minh City into seller’s market territory with an increase in the number of properties changing hands in the last year ballooning by 85%, according to property company Savills Vietnam.

In the third quarter of the year alone, the number of real estate closings jumped 29% against the second quarter, with the total number of sales estimated at 3,280, according to the nation’s largest real estate agency.

A recent Savills research report indicated that 10 residential real estate projects in the city are offering 4,600 single family residential units for sale, 19% higher than Q2 and up 103% since the beginning of the year.  

The research report forecasts that during the period 2015-2017, the real estate market will continue to rebound with over 95 projects offering 70,100 single family residential units for sale.