City sees 16,500 condos sold in H1
A staggering 16,500 apartments in HCMC were sold in the first half of this year, reports of CBRE Vietnam show.
The reports of the property service provider say customers bought over 10,000 apartment units at old and new housing projects in the city in the second quarter and another 6,500 in the previous quarter.
The number of apartments offered for sale in the second quarter increased sharply to more than 8,500 units, mainly at high-end projects like Estella Heights, The Sun Avenue, The Krista, Vista Verde, Gateway Thao Dien, Sarimi, and Landmark 1, 2, 4 and 5 at Vinhomes Central Park.
The average price of the apartments picked up 3.2% in quarter two against quarter one, according to CBRE Vietnam.
Duong Thuy Dung, head of research and consulting at CBRE Vietnam, told an event held on June 30 to release the quarter two report that high-end apartments sold well in the period with 97% of the offered units snapped up at Gateway Thao Dien, all at Masteri Thao Dien and over 70% at Estella Heights.
 |
Though the investors of the housing projects said their apartments were selling like hot cakes, homes can still be found on the secondary market and their selling prices are 5-10% higher than the levels announced by developers.
Participants at the event wondered whether housing developers and exchanges are trying to stimulate demand and boost prices by making their products scarce. Dung said housing developers and distributors often secured contracts with customers long before they launched sales events, so at these events, homebuyers could hardly find a lot of products on offer.
However, an executive at a major property exchange said normally relatives and friends of employees at trading floors registered to buy apartments before employees found actual buyers to sell products at higher prices.
Regarding business results in the first two quarters, Hung Thinh said it had sold almost all apartments at Sky Center in Tan Binh District and Melody Residences in Tan Phu District.
Meanwhile, 1,600 apartments of Dat Xanh Group’s Sunview Town project in Thu Duc District have been acquired. Sacomreal has also sold 1,100 out of 1,600 apartments available at Jamona Apartment, Carillon 2 and Carillon 3.