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HCMC: more apartments, less demand

On June 29, CBRE Vietnam held a press conference to overview Ho Chi Minh City real estate market in Q2-2016. More than 10,000 apartments were put for sale in Ho Chi Minh City in the second quarter of 2016, of which just over 5,800 units were sold, according to CBRE.  In comparison to the previous quarter, the figures represented a 20 percent increase in the number of apartments and a 35 percent drop in the sales. Of the total apartments in the period, 22 percent belonged to the high-end segment, most of which came from Vinhomes Golden River project. In the later half of the year, more apartments from a number of property projects, such as the Golf Park Residence, Elite Park, Diamond Island and Empire City, will be available.