Many projects in Thu Duc City increased prices to reach luxury apartments

According to DKRA Vietnam data, the selling price of apartments in the East of Ho Chi Minh City in the first quarter of 2021 increased sharply when Thu Duc City was officially established, many projects increased prices to reach luxury apartments.

At the announcement of the report on housing real estate market in Ho Chi Minh City and surrounding areas held by DKRA Vietnam Joint Stock Company this morning (April 8), Mr. Vo Hong Thang, Head of DKRA R&D, said that the real estate market Property in Ho Chi Minh City in the first quarter of 2021 recorded mixed fluctuations in some segments.

Many projects in Thu Duc City increased prices to reach luxury apartmentsOverview of the press conference. (Photo: Tan Loi).

Specifically, in the land plot segment, this quarter, the supply in Ho Chi Minh City and neighboring provinces provided about 1,296 lots, slightly down from the previous quarter (1,344 lots). However, the absorption rate reached 1,146 lots, an increase of 37% q-o-q.

According to Mr. Thang, the clean land fund in Ho Chi Minh City is increasingly scarce, the suburban land market continues to hold a key position. In which, Long An leads the supply and new consumption in the whole market.

Many projects in Thu Duc City increased prices to reach luxury apartmentsLong An is the leader in supply and consumption. (Source: DKRA Vietnam).

The apartment market recorded a nearly half decrease in supply and consumption compared to the previous quarter. Specifically, the whole market has about 13 projects launched for sale, providing about 5,515 apartments, equal to 51% compared to the previous quarter. In which, the absorption rate was approximately 80%, equivalent to 4,416 apartments, equal to 53% compared to the previous quarter.

Grade A apartments are still the dominant segment of the market, while luxury apartments have a significant increase. Grade C apartments continue to be absent in the market. The supply of new apartments is mainly concentrated in the East area of ​​Ho Chi Minh City.

Representative DKRA Vietnam said that the price of apartments in the East of Ho Chi Minh City also increased sharply when Thu Duc City was officially established, many projects increased prices to reach luxury apartments.

Many projects in Thu Duc City increased prices to reach luxury apartmentsThe apartment market recorded a decrease in supply and consumption. (Source: DKRA Vietnam).

New supply of townhouses and villas increased slightly by 1% q-o-q, about 2,000 units. The absorption rate on supply was only about 33% (down nearly 60% q-o-q). New supply concentrated mainly in Dong Nai and Ho Chi Minh City. In particular, Dong Nai continues to lead the supply and consumption volume of the whole market.

Many projects in Thu Duc City increased prices to reach luxury apartmentsDong Nai accounts for the majority of the new supply of townhouses and villas. (Source: DKRA Vietnam).

For the resort real estate segment, the supply recorded strong growth in the type of sea villas (up 3.2 times) and condotel (7.4 times) compared to the previous quarter. Particularly townhouses and shophouses, the supply decreased by about 60%.

Mr. Thang said that the overall demand of the whole market was still quite low and continued to decrease. Projects are concentrated in Ba Ria – Vung Tau, Phu Quoc and Binh Thuan. In particular, Ba Ria – Vung Tau leads the new supply in the type of condotel.

Source: – Translated by

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