A view of Ho Chi Minh City from the Saigon River. (Photo: Internet)
Some 7,700 apartments were sold in the fourth quarter (Q4) of 2015, rising 47% quarter-on-quarter (qoq) and 86% year-on-year (yoy), Savills has said in a report, noting that this is the highest transaction volume in a quarter.
Grades A’s sales increased 129% qoq and 228% yoy and Grade B’s transaction volume grew 79% qoq and 137% yoy. Both Grade A & B had the highest sales level in the last five years, says the report.
The real estate service firm ascribes the surge in transaction volume to better financial support, construction commitment from developers and diversified products targeting various buyer groups.
The Q4/2015 residential index in the city was 90.2, up 1.3 points qoq and one point yoy.
The city’s Q4/2015 office index was 81.7, up one point qoq and six points yoy, thanks to yearly improvement in both occupancy and rent. “Occupancy achieved its highest level over the last five years at 94%,” says the report.
In 2016, six projects with more than 71,000 m2 will increase total stock by 4% over 2015.