Hanoi’s shophouse records new prices
The Hanoitimes - Economic slowdown and falling income have driven down demand for real estate segments during 2020.
Prices of shophouses in Hanoi in 2020 set up a new level thanks to investment appetite and thin supply of this real estate segment.
|Representatives of the Vietnam National Real Estate Association (VNREA) share talks on real estate market. Photo: Kinhtedothi|
The prices in some projects with well-invested infrastructure were reported 5% up from the previous year, according to the Vietnam National Real Estate Association (VNREA).
“Landed property remains thin in supply and favorite segment for investors in Hanoi,” VNREA Deputy Chairman Nguyen Van Dinh said at a meeting earlier this week.
Some projects with good infrastructure like Kien Hung and Him Lam in Ha Dong District have been offered at VND200 (US$8,695)-250 million/square meter (sq.m) and VND300 million (US$13,000)/sq.m, respectively, Mr. Dinh said.
In 2020, Hanoi’s real estate market witnessed few licensed projects while the new launches came mainly from low-rise houses and shophouses mostly in projects invested by Vingroup, Ha Do Group, An Lac Investment JSC, and Him Lam Corporation.
Other supply was from mid- and high-end apartments which caught little attention and posted low occupancy, Mr. Dinh explained, adding that inventories are mainly apartments priced from VND35 million/sq.m and landed property marketed more than VND100 million/sq.m.
Many transactions are aimed to serve short-term investment and gain profits.
Economic slowdown and falling income have driven down demand for housing and long-term investment in real estate, drawing investment from other economic sectors to short-term plans, mainly in property projects in outskirt, Mr. Dinh emphasized.
- Hanoi’s shophouse records new prices
- Real estate accounts for 7.6% of Vietnam economy
- Hanoi proposes stopping commercial housing projects
- Hanoi, Ho Chi Minh City seen as regional metropolis for foreign investors
- Hanoi tops localities for low-cost houses
- Foreign investors show growing interest in Hanoi Grade A office
- Land prices around Hanoi jump
- Hanoi urban development needs innovation and conservation
- Vietnam’s industrial property draws strong interest from investors, manufacturers
- Hanoi apartment market: Supply climbs thanks to Covid-19 containment
Hanoi to invest at least 1% of GRDP in sci-tech by 2025
Vietnam Airlines, Humane Society International join hands to save rhinoceros
Vietnam needs to ensure uninterrupted care for elderly in pandemic: UNFPA
Vietnam to mobilize all forces for National Assembly election
Party Central Committee plenum completes preparation for 13th Congress
An overseas Vietnamese: Covid-19 infected, in lockdown and the desire to fly back home
Hanoi to host 10th Gymnastics & Sports Games Congress
Vietnam applies IT in imported goods quality control
Samsung Vietnam to recover its growth target after pandemic