Being quite reserved when being asked if the real estate market will be hot and feverish again in the coming time, many experts believe that there shall be transactions in the market, not as hot and feverish as it used to be in 2007.

 

There is good transaction to projects with good schedule and reasonable price. Photo: Thanh Thinh

 

Transaction has increased...

 

Unlike previous years, the real estate companies “started” right after the Lunar New Year, and now the market is rather eventful.

 

In a recent report made by Savills Vietnam, 2,800 apartments have been launched to Ho Chi Minh City market during the first 3 months, this is the highest figure in a quarter since February 2011.

 

About 1,600 apartments are transacted in this quarter, a decrease of 5% as compared to the last quarter but increase of 39% as compared to the same period of last year. This is the highest figure of transactions and annual growth rate in first quarter of this year in compared with the last 3 years.

 

In the market, many companies announce the positive sale results. Typically, Phu My Hung announces that they have a successful sale of 70% of the 156 apartments of Green Valley project – Phase 1. Hoang Anh Saigon Company – the exclusive distributor of Hung Ngan Garden project reveals that over 200 customers have registered after 3 weeks of project announcement. For The Vista project, Capital Land says that about 20 apartments are sold monthly.

 

… but there shall be no “fever”

 

According to the opinions of many experts, though the offering activity is going on and many projects have positive sale results, there is good signal from some completed projects or projects with good schedule and reasonable selling price.

 

At the talk with CafeLand, Mr. Le Huu Nghia – Director of Le Thanh Company said that according to the statistics of Le Thanh’s two real estate agents, since the forth quarter of 2013, the transactions at projects invested by Le Thanh have been better as compared to the previous years. About the lands consigned by people for sale, previously not much people asked to buy despite of 20 – 30% discount, now they can be sold without any discount.

 

“The current real estate price is too low so it shall rise up after the long lasting tough cycle of 5 – 6 years. There shall be stable number of transactions at the end of this year but to 2015, it shall be warm only, not hot & feverish” judged Mr. Nghia.

 

Mr. Truong An Duong, Director of Real Estate Consulting and House Trade of Savills Vietnam, said that all segments of the real estate market, especially in Ho Chi Minh City are getting out of the bottom. “In this year and to 2015, there shall be more positive movement. However, it depends on context of stability and strong growth of the macroeconomics in the coming time. The market shall recover steadily and slowly, not hot and feverish as it used to be” affirmed this expert.

 

Dieu Trang- CafeLand

 

“The title is amended by HTG”