Vietnamese property market to thrive in 2016
Savills Vietnam, the largest property company in the country, forecasts that the real estate market will be on the upswing in 2016, thanks to improved economic conditions, monetary policies and international trade agreements.
The Savills Property Price Index (SPPI) showed that the absorption rate for real estate commodities in Hanoi was 40% in the first quarter, 2 percentage points over the same period last year. Some 6,440 apartments were sold at the end of 2015, a year-on-year increase of 86% due to improvement in buyers’ confidence.
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A line of high-end property products will be released for sales in the coming time, thanks to real estate commodities’ abundant supply and high absorption rates.
Prominent projects in Hanoi include Watermark Apartment Hanoi on Lac Long Quan Street west of West Lake and the Green Pearl complex on Minh Khai Street .
Meanwhile, in the central region numerous resorts and residential real estate projects have cropped up. Ocean Apartments was built within Danang Beach Resort complex on Son Tra Dien Ngoc Street and Naman Residence was built on Truong Sa Road in Danang. Laguana Lang Co in Thua Thien-Hue is the largest luxury integrated beach resort in the region.