Townhouse prices double in HCMC

By Vu Le   October 2, 2022 | 09:18 pm PT
Townhouse prices double in HCMC
Houses in Thu Duc City. Photo by VnExpress/Quynh Tran
Average townhouse prices in Ho Chi Minh City have nearly doubled from a year ago to US$12,300 per square meter, property consultancy Cushman & Wakefield said.

New supply quadrupled to 450 units in six projects, 86% of them in Thu Duc City, it said in a note.

The west and south of the city accounted for the remaining 14%.

Cushman & Wakefield estimates supply of townhouses in the city to reach 9,500 units mainly in the east and west.

Notable projects under implementation include Global City, Solina Khang Dien and Zeitgeist Nha Be.

Savills Vietnam said in August that HCMC villa prices had doubled since 2018.

Nguyen Mac Hoai Nam, CEO of Nam Phat Consultancy, said villa prices are soaring along with cost of land and construction materials.

But the number of transactions is low since the prices make it a niche market.

Cushman & Wakefield data shows that only 60% of the 450 townhouses launched in the third quarter of this year were sold as banks ran out of credit quotas.

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