Absorption for villas and townhouses in Hanoi has been the lowest in the past three years

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According to Savills data, the absorption rate of the villa and townhouse segment in Hanoi reached 25% in the third quarter of 2020, down 16% from the same period last year and at the lowest level in the past three years. .

At the quarterly report on the real estate market, Ms. Do Thu Hang, Director of Savills Hanoi Research and Consultancy, said that the new supply in the third quarter of the villa and townhouse segment reached 430 units, down 46% q-o-q but increased by more than 500% over the same period last year.

The reason is that in the past few years, the third quarter often recorded the lowest new supply due to the influence of Autumn (lunar July). However, this quarter, developers continue to open for sale of new projects and next phase.

Ha Dong and Hoang Mai districts lead new supply with the next phase of Kien Hung Luxury and Louis City Hoang Mai projects. In which, Ha Dong district alone accounts for 39% market share. With high inventories, this district is expected to be the market leader until the end of the year.

Lượng hấp thụ biệt thự, nhà liền kề Hà Nội thấp nhất trong ba năm qua - Ảnh 1.

Villa and townhouse market performance in Hanoi in the third quarter of 2020. (Source: Savills)

Although the new supply recorded 430 units, transactions in the third quarter reached 455 units, down 3% from the previous quarter and 13% compared to the same period last year. Ha Dong district led the transaction volume with 44% market share.

The absorption rate was 25%, stable QoQ but down 16% over the same period in 2019, the lowest level in three years.

According to Savills, products with primary prices below 5,000 USD / m2 account for nearly 70% of transactions in the third quarter. The units priced from 5,000 USD / m2 to 7,500 USD / m2 account for about 25% of the transaction volume and 5% of the transactions are the ones with price over 7,500 USD / m2.

The average primary price of villas is 4,935 USD / m2, up 4% q-o-q. The average price of townhouses is US $ 4,618 / m2, up 4% q-o-q. With commercial townhouses, the average price is about USD 6,675 / m2, down 9% compared to the previous quarter.

“The market for villas and townhouses has improved slowly with most transactions coming from products with reasonable prices. Future prospects are still unclear with limited supply and launch of many projects delayed, ”said Ms. Do Thu Hang.

In the fourth quarter, Savills said, there were two projects in Ha Dong district and Dong Anh district providing about 470 units to the market. The epidemic forced many projects to change their scheduled opening dates for sale this year back down until at least next year.

Projects located outside the CBD will greatly benefit from completed and upcoming infrastructure projects, especially projects around Ring Road 3, including a number of extension projects, bridges crossings, tunnels and paths.

Source: vietnambiz.vn – Translated by fintel.vn