Property
HCM City: Heat in high-end apartments
Over 5,100 apartments in the mid- and high-end bracket from 17 projects in Ho Chi Minh City were sold during the first quarter of 2015, up 163 percent from the same period last year.
Approximately 22,000 apartments are expected to be sold in 2015, of which sales for the east and northern ends of the city will account for 42 percent and 24 percent respectively.
According to CBRE Vietnam, high-end apartment options are made available from big projects such as the Vinhomes Central Park (VinGroup), Masteri Thao Dien (Thao Dien investment Joint Stock Company) and Scenic Valley (Phu My Hung Company).
The Novaland Group is actively participating by offering 756 apartments in River Gate, The Tresor (phase II), and the Sun Avenue project during the first three months of 2015.
Average selling price for high-end options increased slightly in the city centre and suburbs to 1,717 USD per square meter, up 1.6 percent from the last quarter of 2014.
Meanwhile, the retail market saw an increased average leasing price in the first quarter of this year due a high occupancy rate in shopping centres such as Vincom Center B, Union Square, Vincom Thu Duc and Saigon Square 3.
In the first months of 2015, domestic and foreign retailers including Vinmart, VinPro, VinDS actively expanded their business as Japanese Aeon Group and two Thai giant retailers BJC and Central Group enter the Vietnamese market.
Besides, Italy’s Gucci and the Republic of Korea’s Holly’s Coffee are adding to the country’s dynamic economic market.
The office market saw the unoccupied rate in grade A and B offices gradually decrease from their respective 1.9 percent and 3.8 percent.
According to CBRE, transferring and expanding offices are a common tendency due to the country’s improved economy. Vietnam continues to be an attractive destination for investors and entrepreneurs to expand their business.
Managing Director of CBRE Vietnam Marc Townsend said after a number of quiet years, the country’s real estate market has seen a strong return of big projects with luxury options and more sophisticated plans.
According to CBRE Vietnam, high-end apartment options are made available from big projects such as the Vinhomes Central Park (VinGroup), Masteri Thao Dien (Thao Dien investment Joint Stock Company) and Scenic Valley (Phu My Hung Company).
22,000 apartments in Ho Chi Minh City are expected to be sold in 2015.
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Average selling price for high-end options increased slightly in the city centre and suburbs to 1,717 USD per square meter, up 1.6 percent from the last quarter of 2014.
Meanwhile, the retail market saw an increased average leasing price in the first quarter of this year due a high occupancy rate in shopping centres such as Vincom Center B, Union Square, Vincom Thu Duc and Saigon Square 3.
In the first months of 2015, domestic and foreign retailers including Vinmart, VinPro, VinDS actively expanded their business as Japanese Aeon Group and two Thai giant retailers BJC and Central Group enter the Vietnamese market.
Besides, Italy’s Gucci and the Republic of Korea’s Holly’s Coffee are adding to the country’s dynamic economic market.
The office market saw the unoccupied rate in grade A and B offices gradually decrease from their respective 1.9 percent and 3.8 percent.
According to CBRE, transferring and expanding offices are a common tendency due to the country’s improved economy. Vietnam continues to be an attractive destination for investors and entrepreneurs to expand their business.
Managing Director of CBRE Vietnam Marc Townsend said after a number of quiet years, the country’s real estate market has seen a strong return of big projects with luxury options and more sophisticated plans.
