HCM City property market to grow in 2018

In a forecast it has sent to the Government, HoREA said one- and two-bedroom apartments price at below VND1 billion (US$43,800) would be the best-selling segment and have the highest liquidity. “The social housing segment will further develop while there will be a restructure of the high-end segment to meet market demand,” it said. “Condotels and land plots in housing projects will continue to be in great demand. “Disputes over apartment buildings will be more knotty and need to be resolved in a timely manner.” Le Hoang Chau, chairman of HoREA, said the city real estate market would expand this year to neighbouring regions. Investors, both domestic and foreign, would strengthen co-operation, he said. “The market will develop more steadily with online trading becoming more popular and more green constructions that are environment-friendly becoming trendy.” The association said there would be a raft of mergers and acquisitions this year, boosting construction activities in the city. Foreign direct investment would remain the main source of funding for the market, it said. There is no threat of a bubble this year thanks to timely action by the Government, it predicted. Furthermore, developers too have made efforts to tweak their investment so that they develop products that match the actual demand in the market, it said. Buyers are becoming smarter and understand the market clearly, it said. In a report it released two days ago, global property consultant CBRE said, “In 2018 the mid-level segment will continue to account for the biggest proportion… [Read full story]

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