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Property price index falls

Update: May, 25/2013 - 09:16

HCM CITY (VNS)— The price index for residential properties fell in Ha Noi and HCM City, according to the Savills Property Price Index released early this week.

The SPPI, based on Savills Vietnam's statistics in Q1, shows that the residential index for HCM City stood at 89.2, a slight decrease of 0.4 per cent quarter-on-quarter (QoQ) and 3 per cent year-on-year (YoY). The majority of projects that had price reductions still had sluggish performances.

Meanwhile, the Ha Noi index was 108.3, a drop of 6.4 per cent points QoQ and 16.7 per cent YoY. The index has decreased for seven consecutive quarters by approximately 22 per cent since its peak of 138.7 in Q2/2011. — VNS

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