MID-END APARTMENT SUPPLY PLENTIFUL

The real estate market will see an abundant supply of mid-end apartments toward the end of the year, according to the Vietnam National Real Estate Association. A number of renowned investors, such as Vingroup and Eurowindow, will launch a large number of mid-end apartments, which are of high demand.

Over 20,000 apartments will be completed by the end of this year, of which 50% are of the mid-end segment, mostly in the west and southwest of Hanoi.

Other downtown districts, including Tay Ho, Dong Da and Ba Dinh are expected to have more high-quality projects.

In the second quarter this year, the supply of serviced apartments exceeded 4,130 units, with 60% of them in Ba Dinh and Tay Ho districts.

The renting prices of these apartments have fallen slightly by 2.4% on a quarterly basis and 2.7% year on year.

An additional 1,180 apartments of this type will be made available in the third quarter, creating more competition pressure in this sector.

Source: VIR

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