Hanoi’s Q3 new apartment supply fell 60% year-on-year to a five-year low of 3,100 units as COVID-19 hampered new launches.
VOV.VN - A photo of an apartment block on Nguyen Hue street in Ho Chi Minh City at night has been featured on Facebook by the photo-sharing community of National Geographic UK, with the image receiving 51,000 reactions and thousands of comments from friends worldwide.
VOV.VN - According to the statistics released by the HCMC Real Estate Association(HoREA), foreign nationals have purchased between 14,800 and 16,000 houses nationwide over the past five years, representing 2% of all homes sold during the reviewed period.
Ho Chi Minh City landlords have been forced to lower rents further with the second wave of COVID-19 hitting demand.
Ho Chi Minh City’s Department of Tourism has asked authorities in all districts to take measures to control the spread of disease in rental apartments and lodging facilities.
The apartment supply in Hanoi is expected to surge in the second half of this year to meet higher demand in this segment, according to Savills Vietnam.
With the government tightening control over permits, Hanoi’s second quarter new apartment supply fell to a seven-year low.