Residential property demand in Hanoi was at an all-time high during the final three months of last year.
According to real estate firm JLL in its Vietnam Property Market Brief covering the period, the city saw increased launch activity across the market.
New supply in the fourth quarter reached 8,800 units, up by 18.0 percent from the previous quarter and an amount that increased the 2015 total to 28,300 units, exceeding the combined rate of 2013 and 2014.
Construction progressed well in many developments during 2015, the firm reported. Take-up was up 8.0 percent quarter-on-quarter to stand at 8,500 units, almost half of which was priced between US$ 1,000 per sqm and US$ 1,500 per sqm.
During the fourth quarter, Hoang Mai District led the sales numbers with 2,100 units, followed by Hai Ba Trung, Thanh Xuan and Nam Tu Liem Districts with 1,300 units each.
In its outlook, JLL reported it expects that a high-level of supply is expected for the coming year. It said around 21,000 units will complete this year, 85 percent of which were already sold. Of the projected total, the mid-end segment will form the largest proportion, it predicted.
Abundant amounts of new launches are expected, as the improved sentiment should draw more developers and development projects to the residential market. These residential markets will continue to show strong performance.
In conclusion it said demand growth will remain positive during the coming year, supported by continued strong investor sentiment and the availability of housing credit.
The price uptrend will continue to strengthen, is said.
