Specifically, over the past 2 months, the supply in the market came from 6 projects, but all of them are in the next sales phase.
According to that, the supply of apartments in Ho Chi Minh City accounts for the majority with over 300 units. The remaining 140 units are mainly concentrated in Binh Duong and Ba Ria – Vung Tau. Therefore, the number of apartments launched for sale in the first 2 months of this year still decreased by 34% compared to the same period in 2023.
Although many developers have applied promotional policies such as early payment discounts, extended payment periods, and gifts for sale to stimulate the market, the consumption of new apartments in recent times has still decreased by 53% compared to the same period last year due to the impact of the extended Lunar New Year holiday.
Over the past 2 months, the supply in the market came from 6 projects but only in the next sales phase, no new supply.
Among them, grade B apartments continue to dominate the market, accounting for 93% of new consumption and mainly concentrated in the Western area of Ho Chi Minh City.
In terms of selling prices, the company stated that the primary selling prices have not fluctuated much, locally recording a 3-6% increase in some projects in Ho Chi Minh City with complete legal status, construction progress, and quick handover.
Similarly, previous statistics from Savills also showed that the supply of apartments in Ho Chi Minh City reached only 10,700 units in 2023, a record low in a decade. The decrease in new projects led to a continuous 7% decline in apartment transactions each year. With this situation, the market only recorded 6,300 transactions in the past year.
Ms. Giang Huynh, Deputy Director cum Head of Market Research Department at S22M, believes that in 2023, Ho Chi Minh City will no longer have products under 2 billion VND, with 90% of transactions belonging to the segment from 2-5 billion VND per unit.
