Director of the Research and Consultancy Division of Savills Hanoi, Do Thu Hang, said that despite the quiet market, investors haven't decreased prices.
"The average apartment prices have reached VND 53 million per square metre in the second quarter of this year, up 17 percent from the same period last year and up 73 percent from the first quarter of 2019," Hang said. "The rising prices are attributed to the increasing prices of land and construction fees, and the higher quality of apartments."
Surveys showed that prices of apartments at projects near the Cat Linh-Ha Dong metro line have also increased by 22 percent compared to the same period last year.
According to the report, some 3,596 apartments were put for sale in the second quarter but only 2,500 apartments were sold, down 6 percent against the figure of the first quarter.
Savills Vietnam predicts that 11 projects will start selling some 7,000 new apartments in the final half of this year, mainly in the districts of Ha Dong, Nam Tu Liem, and Hoang Mai.
The company also forecasts that Gia Lam and Dong Anh districts will have more projects with some 19,500 apartments being built in the coming time.
Meanwhile, there were no supplies of villas and terraced houses in the second quarter of this year. Only 106 villas were sold in the city in the first quarter of this year with prices falling by 10 percent to VND100 million per square metres in Me Linh District.
