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CBRE: apartments launched for sale in HCMC decreases by one-third on-year, and prices increase slightly

The number of new apartments launched for sale in HCMC in Q2-2018 reached 6,109 apartments, down 36pct on-year. However, the total number of apartments launched for sale in H1-2018 still increased by 5pct on-year. According to CBRE Vietnam, the most supply reduction was recorded in mid-end segment, down 62pct on-year, which might be affected by apartment fire incidents in late March, resulting in more attention paid on apartment safety and stricter license approval. In addition, some property investors have become more cautious in launching new supply in order to ensure good absorption rate. Next, the government also limits property credit in order to regulate market resulting investors gradually changing to other capital-access channels, like stock market. Meanwhile, according to CBRE, average sales prices of the primary market in Q2-2018 is recorded at US$1,580 per square meter, up 3pct on-year thanks to some high-end projects with prime locations having impressive price increases.