In Q2 2024, the primary supply of land plots increased by approximately 5% compared to the previous quarter, with concentrations in Binh Duong, Long An, and Dong Nai. While market demand showed significant improvement from Q1 2024, it remained relatively low compared to the pre-2019 period. Transactions were mostly focused on products with completed infrastructure and legal documentation, with average prices below VND 30 million per square meter.
A township project in Binh Duong |
The apartment segment witnessed 126 primary projects launched during Q2 2024, offering approximately 14,538 units, a 12% increase from the previous quarter and an 8% rise year-on-year. Ho Chi Minh City led the primary supply in the quarter, largely driven by Class A and luxury apartment projects in the East region. Notable improvements in liquidity were observed, with primary consumption across the market surging by 88% compared to the previous quarter and a substantial 82% increase year-on-year.
For townhouses and villas, Ho Chi Minh City and its surrounding areas experienced a 12% year-on-year increase in primary supply and consumption, representing a 4.5-fold jump from the previous quarter. Ho Chi Minh City, Dong Nai, and Binh Duong were the key contributors to primary supply, accounting for approximately 91%.
News & Photo: S.Nhung
Property prices soar, expert advises considering secondary markets
The prices of primary housing are currently at a very high level, and experts recommend that home buyers consider the secondary market as a viable option.
Former CEO caught selling 2,700 illegally acquired land plots, making a profit of 1.7 trillion VND
Former CEO of Thang Long Company, Nguyen The Hung, along with other suspects, has been accused by the security agency of illegally transferring over 2,700 land plots, totaling more than 1,700 billion VND.
Real Estate Expert Forecasts Booming Market for Land in 2024
Currently, land plots are still highly valued by experts as they bring high profits and minimize risks, even in a slow-paced and low liquidity market.
