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| Grade-A projects had the best performance in 2017, tripling sales YoY. |
Viet Nam News
HÀ NỘI — Vingroup and Tân Hoàng Minh were leading in sales volume and revenue of apartments in the local property market in the fourth quarter of 2017 (Q4/2017), according to the Savills Việt Nam, a foreign property service provider in the country.
Đỗ Thị Thu Hằng, Associate Director-Research, Savills Hà Nội, said currently, 98 per cent developers of real estate projects were domestic enterprises.
The top three investors with the highest revenue in sales of apartments are Vingroup, Tân Hoàng Minh and Sungroup. But when it comes to sales volume, Vingroup, Tân Hoàng Minh and Geleximco are the market leaders.
In 2017, 63 new projects entered the property market. New launches remained unchanged year on year (YoY), but primary supply increased 14 per cent YoY. Grade-A projects had the best performance, tripling sales YoY, according to Savills Việt Nam’s quarterly report on Hà Nội property market in Q4/2017.
Savills said customers are buying Grade-A apartments for lease, besides residential purposes. This is the main reason for the impressive increase of this segment.
Meanwhile, the number of sold apartments increased slightly for the Grade-C segment but declined for the Grade-B segment.
Over the past year, Vingroup and Tân Hoàng Minh have provided thousands of Grade-A apartments through Vingroup’s Vinhomes branded projects and D’s chain of projects. — VNS
