HCMC housing supply to bounce back in H2: analysts

Since July many developers have been returning to the market after remaining on the sidelines for long.

The developer of a housing project in Long Binh and Long Thanh My wards in Thu Duc City launched nearly 2,000 apartments in early July.

Another developer began the sale of more than 2,300 apartments in Truong Tho Ward in Thu Duc City.

A company is selling apartments at two projects in Binh Tan and Binh Chanh districts, mainly targeting people buying to occupy them.

A developer plans to launch a mid-priced apartment project in the city’s western area late in the third quarter or early in the fourth. A property brokerage will begin the sale of townhouses in Binh Tan District.

Real estate consultancy Savills Vietnam expected 8,450 apartments to be offered for sale in the second half of this year.

It said mid-priced apartments would account for 54% of them and affordable apartments for 39%.

Some of the notable projects will be Vinhomes Grand Park – The Glory Heights, Thu Thiem Zeit – Block T2 and La Partenza.

As for villas and townhouses, 500 units are expected to enter the market before the end of the year.

Nguyen Duy Thanh, CEO of BDS Stock Company, said real estate developers and buyers have recently returned to the market after seeing lower policy rates, fewer legal difficulties, slightly reduced bank lending interest rates, and rising public spending by the government.

But he admitted there have been few transactions yet.

Nguyen Loc Hanh, CEO of Asia Gem Real Estate Investment Joint Stock Company, said the launch of new products in July was to test the waters before the peak sales season at the end of the year.

"From the middle of the third quarter, when policy interest rates and lending interest rates decrease further, there will be an opportunity to test how much housing demand can increase."