Prices and sales of residential property in Ho Chi Minh City both rose in the final three months of last year, according to the latest research from real estate firm Savills.
In its Savills World Research Residential Index report published last Friday, it noted the Q4 2015 residential index stood at 90.2 points, an increase of 1.3 points quarter-on-quarter (QoQ) and up 1 point year-on-year (YoY).
The overall absorption rate was 21 percent, up 4 percent QoQ but down 1 percent YoY due to abundant supply of property in the city.
Approximately 7,700 units were sold during the three-month period, what Savills described as a “remarkable” increase of 47 percent compared with the previous three-month period, and an increase of 86% YoY.
Savills said this was the highest transaction volume in any quarter it has recorded.
Grades ‘A’ property sales increased by 129 percent QoQ and 228 percent YoY. Grade ‘B’ transaction volumes grew 79 percent QoQ and 137 percent YoY. Both Grade ‘A’ and ‘B’ saw the highest sales levels that have been seen at any time during the last five years.
Savills said that a number of critical factors, including better financial support, construction commitment from developers and diversified products targeting various buyer groups, had resulted in better sales and price movement.
Main image: A property for sale on Nguyen Huu Tho Street being marketed by Savills Vietnam.
