The Savills property price index (SPPI) for residential and office
markets here and in HCM City increased in the third quarter of 2014.
Savills,
the Vietnam property service provider, reported on October 30 that in
the third quarter, Hanoi’s residential SPPI was 102.7, a 2.4-point
quarter-on-quarter (QoQ) increase and a slight 0.6-point year-on-year
(YoY) increase.
According to Savills, the quarter witnessed a significant rise that can be considered as a positive signal from market.
The
inventory ratio declined sharply by 24 percentage points QoQ and 26
percentage points YoY because of the entire market’s strong performance.
This quarter, the absorption rate in Hanoi was 38 percent, a
15-percentage point QoQ increase.
The average price in the
third quarter was approximately 25.2 million VND per square meter, a
two-per cent QoQ increase. Hoan Kiem, Tay Ho and Ba Dinh districts had
the highest prices because of their central location and numerous
upscale projects.
In HCM City, the residential index was
89.5, the same as last quarter and a 0.7-point YoY increase. The overall
absorption rate was 19 percent, a two-percentage point increase QoQ and
a seven-percentage point increase YoY.
Approximately
3,280 units were sold, a 29-percent QoQ and 85-percent YoY increase,
representing the highest transaction volume since the fourth quarter of
2010.-VNA