Nineteen freshly launched projects and 21 newly launched projects in Hanoi supplied 10,280 apartments in the fourth quarter of 2016, increasing a significant 81% quarter-on-quarter (q-o-q) and 28% year-on-year (y-o-y), Savills Vietnam
has said in a report.
The upsurge in supply caused the total primary stock in the city to rise 27% q-o-q and 35% y-o-y to 21,670 units.
The property service company said that 6,730 apartments were sold in the quarter, up 19% q-o-q and 5% y-o-y. The average asking price increased 2% q-o-q and 1% y-o-y to $1,230/ square meter (sqm).
In 2017, approximately 77 projects will enter the market supplying over 50,000 units, the majority of which will be Grade B, it added.
In the villa and townhouse segment, the total stock was approximately 35,000 dwellings in the quarter, up 4.9% q-o-q and 12.8% y-o-y.
Sales increased 129% q-o-q to 766 units, of which 64% were townhouses. Villa and townhouse sales exceeded the former record set in 2011.
On the retail segment, the total retail stock was approximately 1,200,000 sqm in Q4/2016, up 2% q-o-q and 10% y-o-y due to the entry of two new shopping centers and one retail podium, which provided approximately 56,000 sqm.
Ground level rents decreased q-o-q and y-o-y across all retail segments to a four-year low. Average occupancy increased 1.1 percentage points (ppts) q-o-q but decreased three ppts y-o-y.