Residential property prices in Hanoi remained largely stable during the final three months of last year.
The Q4 2015 Residential Index, published by real estate firm Savills Vietnam, was reported at 108.2, unchanged quarter-on-quarter q-o-q) but up 2.2 pts year-on-year (y-o-y) due to the stable average selling price of VND 25.6 million per sqm.
The overall absorption rate was 40 percent, decreasing 5 ppts q-o-q but increasing less than 2 ppts y-o-y.
Approximately 6,440 units were sold during the quarter according to Savills, representing a slight decline of 3 percent q-o-q but a sharp increase of 86 percent y-o-y due to a strong improvement in buyer confidence.
The market has recovered in recent quarters, Savills reported, with more projects launched and high transaction volumes.
During 2016 approximately 24,840 units will come online. The potential of a rise in interest rates may pressure prices, especially for active projects, the real estate firm cautioned.
