Eastern Hanoi accounts for 80% of capital city’s apartment supply: report

Tuesday, 2019-07-09 16:34:16
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The first six months of the year saw a 3,241 new apartments coming on the market. (Photo: Kinh te va du bao)
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NDO - Four in five apartments that opened for sale in Hanoi in the first half of 2019 are located in the eastern area of the capital city, according to property service firm CBRE.

The firm said the first six months of the year saw a remarkable 3,241 new apartments coming on the market, more than 1.5 times higher than the total supply of 2019.

Such figures indicated a strong market and a good outlook for the times ahead, CBRE said, adding that improved transport infrastructure continued to boost supply in new locations and helped revive stalled projects.

The CBRE reported that the shift of supply from main districts to the outlying areas is becoming visible, noting that several projects in western Hanoi witnessed positive progresses when project owners announced the completion of unfinished projects so that apartments could be handed over to homebuyers at high quality.

The firm said sales in the last six months were also quite impressive despite a higher supply.

Data showed 2,980 villas and townhouses were sold during the period, up 14% compared with all of 2018.

CBRE forecasts that high-quality products, management and project owners’ reputation will remain the major factors affecting the decision of buying houses for residential or investing purposes.

It also projects that the coming quarters will see new supplies with products belonging to the later phases of the projects which have already opened for sale.