In Hanoi, the Sunshine Group has announced to launch the Sunshine Sky Park project in Long Bien District in the first half of 2018. It is a commercial and residential complex with three 37-storey buildings and apartments from 48 to 80 square metres wide.
Recently, FLC Group has also announced to launch the FLC Asia Park project in the West of Hanoi. The project is 50 hectares wide, located in the centre of Quoc Oai district, 14 kilometres to the northwest of the National Convention Center.
Besides, at the lunar end of 2017, some new projects entered the market, including the T&T complex (120 Dinh Cong, Hoang Mai district) with 32 houses and more than 300 apartments.
Also, after two years of preparation, Hoang Huy Investment Financial Services JSC is finally ready for the peak investment period with major real estate projects in Hanoi and Hai Phong.
In this exciting atmosphere, real estate developers in HCMC are also busy with new plans.
Many high-end apartment projects have been launched in the late lunar 2017 such as Victoria Village and Dragon Village. Shortly, the market promises to be even more bustling.
Saigon Thuong Tin Real Estate JSC said that at the end of March 2018, the Chamington Iris project in District 4, HCMC will be officially put on sale. It has more than 1,000 apartments and shophouses, of which selling price is expected at from VND40 to 45 million (about US$1,700 – 1,900) per square metre.
In District 5, Vietcomreal will also offer the Ventosa project for sale in early April. It is located on Tan Thanh street (Ward 3, District 5), including 340 luxury apartments with an area of 50 to 92 square metres, whose price starts at about VND50 million (about US$2,200) per square metre.
Many companies also said they would develop new projects in 2018, such as Hung Thinh with the Grand Nest City project on Dao Tri street (District 7). Thu Duc Housing Development Corporation and Daewon Co., Ltd. are also planning to open the Centum Wealth project with the area of 11,582 square metres in Q1/2018.
Notably, in this year, the giant Novaland is going to launch four projects in the east of HCMC, which have more than 12,000 apartments. Dat Xanh Real Estate Services and Construction JSC also aims to sell over 28,000 products in 2018.
According to Savills Vietnam, the total supply in 2017 and 2018 of HCMC can reach 70,000 units. Nguyen Hoai An, Research Director of CBRE, said that the positive macroeconomic fundamentals in 2017 along with the GDP growth rate of 6.81% and the record FDI inflows of nearly US$36 billion would continue the momentum for the real estate market in 2018.
However, the abundant supply in both cities will put enormous pressure on the investors and distribution units in the process of selling products. They would have to care more about the location, construction quality, and legal clarity, An stated.