Hanoi sees strong growth in prices of landed houses in peripheral districts
In the second quarter of 2019, the price of landed houses in the districts of Cau Giay, Dong Da, Thanh Xuan and the price of street houses in the districts of Hoan Kiem, Hai Ba Trung, and Ba Dinh fluctuated mildly compared to the previous 3 months.
Hanoi witnessed stronger price growth of landed property in the peripheral districts compared to that of downtown districts in the second quarter of 2019. The prices of landed houses in Hanoi’s peripheral districts like Nam Tu Liem, Hoang Mai, Bac Tu Liem, Long Bien, Ha Dong were up from 13% to 16% in the period of 2015-2018 while the figure for some downtown districts namely Hoan Kiem, Cau Giay, Ba Dinh, Dong Da, Tay Ho just increased from 1% to 7% in the same period.
In the second quarter of 2019, the price of landed houses in the districts of Cau Giay, Dong Da, Thanh Xuan and the price of street houses in the districts of Hoan Kiem, Hai Ba Trung, and Ba Dinh fluctuated mildly compared to the previous 3 months.
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In the second quarter of 2019, Vietnam’s property market saw a surge in the segments of rental houses, villas and landed houses for sales, contrary to the forecasts that the high-end apartments and “condotel” or condominium hotel offering short-term rentals will dominate the real estate market, Economic and Urban News reported.
In the period from April to June, investors’ interest in the Vietnamese real estate market, especially in rental house, villa and landed house segments, spiraled upward thanks to the sustainable macro-economic growth.
While Ho Chi Minh City’s property price index rose by 18.1% year-on-year in the quarter, the index in Hanoi slightly rose by 5.3% compared to a 2% increase in the same period of 2018.
Since the fourth quarter of 2018, the real estate market in Vietnam, especially in Hanoi and Ho Chi Minh City City, has experienced steady growth. There are 4,100 property projects in execution in the whole country, of which 1,020 projects are in Hanoi, Batdongsan News’ reported.
According to the news website, real estate ads posted in Hanoi also increased strongly by 42% and 35% in Ho Chi Minh City year-on-year in the second quarter of 2019.
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Vietnam news in brief - August 24
Read The Hanoi Times to stay up to date on developments in Vietnam.
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