Has HCMC turned the corner?

PropertyGuru

12 March 2015 at 3:01 pm

In its latest research of the Vietnamese city of Ho Chi Minh City, real estate firm Savills noted how its Q4 2014 residential index stood at 89.2 - stable on a quarter-on-quarter basis and up 0.5 year-on-year.

The overall absorption rate was 22 percent, a strong increase of 3 percentage points on the previous three months, and up 11 percentage points on the same time last year.

In Q4 2014 Savills reported that approximately 4,130 units were sold, up 28 percent quarter-on-quarter and 149 percent year-on-year. This was the highest transaction volume since Q4 2010.

The residential index has been stable in recent quarters and increased slightly compared with Q4 2013.

Strong financial support from banks and developers helped increase buyer confidence. In addition, a wide range of suitable products has been developed, contributing to higher liquidity and price improvement.

The quarter-on-quarter index is expected to continue to be stable in the coming quarters, Savills concluded in its research report.

Savills Ho Chi Minh Residential forecast

Andrew Batt, International Group Editor ofPropertyGuru Group, wrote this story. To contact him about this or other stories emailandrew@propertyguru.com.sg

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