The supply of luxury apartments in central Hanoi is becoming increasingly scarce, pushing starting prices to new highs.
High demand and limited supply drive transactions in major urban areas despite soaring costs.
Hanoi’s apartment prices are expected to continue rising until supply and legal bottlenecks are resolved, according to experts.
The apartment market in Hanoi shows no signs of slowing down as prices continue to soar, with industry experts projecting further escalation until hitting the affordability threshold for prospective buyers.
Park Kiara, first residential condominium in ParkCity Hanoi, comprises of two towers of 31-storey each with 432 units.
From 2020 onwards, foreign developers including Sumitomo, CapitaLand and Mitsubishi Corporation will enter, expected to contribute to a new modern city in the future.
The HausNeo Apartment Project, developed by EZ Land Vietnam Development JSC, has been certified with the International Finance Corporation (IFC)’s EDGE certification, for its excellence in design for green building.
There were only 12 newly launched projects in Ho Chi Minh condominium market in the first quarter of 2019, dropping significantly due to long Tet holiday and slow licensing process, according to CBRE.
The proceeds from share issuance to Japanese shareholder will be invested in high-end apartment and landed projects in addition to the current tourism property business, according to Netland deputy general director Nguyen Huu Quang.
Chinese buyers are making up a dominant part of transacted luxury and high-end apartments, showing their keen interest in Vietnam's real estate market.
Residents of cities are rising rapidly with the emerge of megacities that will change the landscape of the real estate market, requiring more creative investors in the increasingly limited space of each apartment.
Fast demand growth together with limited land fund are the main reasons for the price surges of luxury apartment segment in Danang city.
Oakwood Worldwide, wholly owned by Mapletree Investments has announced the upcoming opening of their second property in Ho Chi Minh City.
The Carina Plaza apartment fire, which killed 13 people, had a strong impact on the stock price of its alleged investor and in the long run, the business prospects for the company's projects are doubtful and unpredictable this year.
