The Hanoitimes - The Hanoi real estate sector continued to
be frozen in Q4/2012, according to a market report by Cushman and Wakefield
Vietnam (C&W).
Grade A apartments are now being
offered for around 48 million VND ($2,300) per square metre, while grade B and
C apartments are selling for 17-33 million VND ($817-1,590) per square metre.
To stimulate demand, many
investors are offering credit support packages with low interest rates. Some
are even offering unfinished apartments in order to reduce prices by 5-7
million VND ($240-337) per square metre.
However, these moves have failed
to motivate new purchases, so the market's liquidity was still low, C&W
said.
There are currently about 11,500
apartments for sale in the primary market: around 4,000 high-end apartments and
6,500 mid-range ones.
About 100 apartments from three
operational projects have been brought onto the market this quarter, mainly in
grade B and C categories.
In Q4, new projects will be
unveiled such as the Discovery Complex and Hado Park View in Cau Giay District
and Skyline in Hai Ba Trung District.
Many projects are still under
construction, threatening to worsen the oversupply problem. These include
Mandarin Garden (1008 units), D'Palais de Louis (242 units), Mulberry Lane
(1,478 units), Golden Land Building (730 units) and Golden Palace Me Tri (1,000
units).
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