HCM City apartment sales up 47% in Q4
Total apartment sales in Ho Chi Minh City reached nearly 7,700 units in the fourth quarter of 2015, up 47% from the previous quarter, according to Savills Vietnam’s Market Brief released on January 29.
Sales of Grade A apartments rose 129% quarterly. Grade Bs were up 79%. Both Grade A and B have reached their highest sales levels in the last five years, thanks to banking support and diversified products.
Meanwhile, the office market performed its best in the past four years.
The total take-up was 60,000 sq.m, up 264% from the figure of entire 2014– mostly Grade B and C office space.
This year, more than 71,000 sq.m in six projects are expected to be made available, pushing the total stock up 4% from 2015.
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| HCM City apartment |
Nguyen Toan Thang, Director of the municipal Department of Natural Resources and Environment, said the city collected more than VND10.6 trillion (US$481 million) in land use fees, up 34.56% from 2014.
Nearly 45,000 certificates of land use, home ownership and ownership of other properties associated with land were granted to individuals and households. More than 11,000 were granted to organisations, raising the total number of licences to 1.4 million, or 92.8%.
The department also submitted a plan to municipal authorities to reclaim 3,290ha for 491 projects and take back 229ha in 32 slow-progressing projects.
