Mr. Hoang Hai – Director of the Department of Housing Management and Real Estate Market, answering the press – Photo: Van Duan |
At the regular press conference for the first quarter of 2024 held by the Ministry of Construction on the morning of April 26, regarding the skyrocketing price of apartment buildings, Mr. Hoang Hai – Director of the Department of Housing Management and Real Estate Market, said that before the situation of Hanoi’s house prices sharply increasing, the Ministry of Construction had inspected some apartment building locations with high asking prices in Hanoi, the results showed that there were not many transactions, the number of successful transactions was very few.
“The Ministry of Construction has also sent a document requesting Hanoi City to investigate the sudden increase in apartment prices, however, the Ministry has not yet received a feedback report” – Mr. Hoang Hai said.
Regarding apartment prices in the first quarter of 2024, the Ministry of Construction said that the apartment building market has continued to attract the attention of groups of people with real housing needs and medium and long-term investors.
 Mr. Hoang Hai – Director of the Department of Housing Management and Real Estate Market, answering the press – Photo: Van Duan |
According to a survey by the Institute of Construction Economics (Ministry of Construction) and the Vietnam Real Estate Association, the average selling price of some projects in Hanoi and HCMC fluctuated between 50 – 70 million VND/m2.
In Hanoi, the asking prices for apartments have been continuously increasing in both the primary market (selling from the investor) and the secondary market (buyers from the investor, then resold).
Meanwhile, in HCMC, in the first quarter of 2024, in the secondary market, the selling prices of apartment buildings tended to increase compared to the previous quarter and increased significantly in some districts such as District 7, Tan Phu, Tan Binh, Phu Nhuan, some projects had high average price increases in the first quarter of 2024.
Also according to the Ministry of Construction, in the first quarter of 2024, the demand for searching for detached houses and land increased compared to the previous quarter and compared to the same period last year.
The number of detached houses and land transactions in Hanoi increased by 5-15% compared to the end of 2023, the selling price ranged from 80 – 220 million VND/m2 and in HCMC the selling price ranged from 90 – 250 million VND/m2.
In HCMC, the selling price of detached houses, villas, townhouses, and land of some projects had high average price increases in the quarter.
Regarding the supply of housing nationwide, the Ministry of Construction said that in the first quarter of 2024, 10 projects were completed with a scale of about 4,706 units, the number of projects accounted for 34.48% compared to the fourth quarter of 2023 and by 71.43% compared to the same period in 2023,
The number of newly licensed projects was 19 with a scale of about 9,774 units, the number of newly licensed projects was 95% compared to the fourth quarter of 2023 and 111.76% compared to the same period in 2023.
In addition, there were 38 projects eligible to sell future-developed houses, with a scale of about 5,527 units, the number of projects eligible to sell future-developed houses was 80.85% compared to the fourth quarter of 2023 and 73.08% compared to the same period in 2023.
There were 984 projects under construction, with a scale of about 421,353 units, the number of projects under construction was 115.22% compared to the fourth quarter of 2023 and 140.97% compared to the same period in 2023.
Van Duan
