Housing prices in central provinces cool off

October 10, 2020 - 10:08
Housing prices in central provinces have cooled off in recent times after rapidly rising in 2018-19.


A view of Nha Trang City, Khánh Hòa Province. Housing prices in central provinces have coolled off to a more reasonable level, according to the Việt Nam Association of Realtors. — Photo vietnambiz.vn

HÀ NỘI — Housing prices in central provinces have cooled off in recent times after rapidly rising in 2018-19.

According to the Việt Nam Association of Realtors, after increasing rapidly in 2018-19, housing prices in Đà Nẵng, Nha Trang and Quảng Nam are now more reasonable.

In Đà Nẵng City, for example, FPT City had prices of around VNĐ22-25 million, Hòa Xuân Urban Zone VNĐ20-27 million and Nam Hòa Xuân 27-30 million per square metre.

In Quảng Nam Province, projects in the cities had prices of VNĐ40-60 million and VNĐ17-20 million per square metre in emerging districts.

The association said in the first nine months of this year, the Đà Nẵng and Quảng Nam real estate markets did not see many new offerings and housing supply of projects with good infrastructure system and clear legality was limited.

Projects which drew attention in the third quarter of this years were Hòa Xuân and FPT City in Đằ Nẵng.

In Quảng Nam, Epic Town and 7B Quảng Nam Urban Area were also drawing significant interest. About 60 per cent of the units on offer were sold.

Projects which had basically completed their investment in infrastructure and had clear legal status and reasonable prices were the most attractive to investors, the association said.

In Khánh Hòa Province, statistics of the Việt Nam Association of Realtors showed there were few real estate projects approved in the past two years.

The market did not see robust transactions while prices also dropped by 20-30 per cent.

Prices of high-end apartments in Nha Trang City fell from VNĐ40-60 million per square metre to VNĐ30-50 million. Middle-end apartments now had prices of around VNĐ22-30 million.

The association said projects in areas with development planning and improving infrastructure would attract investors.

The association forecast that transactions of land in the western and northern Nha Trang, Bắc Vân Phong and Cam Lâm would be robust in the remaining months of this year and next year.

September saw a significant interest of investors in real estate projects in Khánh Hòa, the association said. — VNS