It is observed that the supply of private houses in Ho Chi Minh City has recently been put up for sale quite a lot. In particular, in areas such as District 9, District 12, Nha Be District, Binh Chanh District, houses priced at 3-4 billion VND/unit are sold quite quickly. Meanwhile, in the suburban areas such as Go Vap District, Tan Binh District, Tan Phu District…, the most transactions occur for houses priced at 5-7 billion VND/unit, with alleys of 3m or more.
According to brokers, after 3 years of the epidemic, people whose business is less effective tend to sell their houses. There was a time when private townhouses in Ho Chi Minh City decreased in price by 10-30% for urgently sold units. However, this segment has the characteristic that the demand is always “rotated” and available, and the purchase is mainly for real use. People with financial difficulties, who sell large houses, will buy small houses to live in, or sell this mortgaged house to buy another mortgaged house with a better price…
Mr. Phan Vi, a townhouse broker specializing in Ho Chi Minh City, said that the townhouse market heats up or cools down due to this “rotation” of buying and selling. Recently, when the market suffered from liquidity difficulties, buyers were in a state of scrutiny and waiting. Now, when they see that the market shows signs of heating up and prices do not decrease as expected, buyers make decisions. The number of customers visiting and closing deals for houses priced at 5-7 billion VND at the edge of the city center is quite large. In fact, in some areas, the supply of brokers has only been posted for a few hours and there are already buyers.
For example, recently a townhouse on Phan Huy Ich Street, Ward 12, Go Vap District was transacted 3 hours after the broker posted the information. The house was built “brand new” and then offered for sale at a price of 6.680 billion VND/unit (slightly negotiable, fully furnished).
According to the information posted by the broker, the house has a structure of 1 ground floor, 1 mezzanine, and 3 floors including a garage; 1 living room, 1 kitchen, 1 karaoke room, 4 bedrooms, 5 toilets, and 1 worship room, front and rear terrace laundry room. Just a few hours after posting the information, the house had customers who “deposited right away”.
This house on Phan Huy Ich has a buyer after a few hours of the broker posting information.
“Low supply, reasonably priced private townhouses, good location, and new houses are selling quite well in this period. After a period of restrained demand, this segment is receiving attention”, Mr. Phan Vi affirmed.
It is observed that private houses with a small area and a price of 7 billion VND in District 3 (Ho Chi Minh City) are equivalent to a 5 billion VND house in Binh Thuan District. If houses in the central area are slow, the suburban areas are experiencing quite stable transactions.
Brokers said that the demand is diverse, and houses with an area of 50-120m2 meet the living needs of a family, so they are often purchased the most. Private houses with a price of 5 billion VND in suburban areas such as Binh Thanh District, Tan Binh District have a small area of 35-40m2, and alleys of 3-4m. In these districts, choosing a house from 6-7 billion VND/unit is more comfortable.
