Savills Vietnam would like to announce Savills Property Price Index (SPPI) in November 2016 for Ho Chi Minh City and Hanoi with highlighted information as below:


Residential Index

In Q3/2016, the Residential Index was 93.5, increasing 0.6 point quarter-on-quarter (QoQ) and 4.5 points year-on-year (YoY).

Figure 1 – Residential QoQ Index – HCMC

There were approximately 7,500 sales, increasing 7% QoQ and 43% YoY. The absorption rate was 19%, increasing 2 percentage points (ppts) QoQ and YoY.

While there were many Grade A and C sales, Grade B sales decreased -12% QoQ. Grade C sales exceeded 3,700 units, accounting for 50% of quarterly sales. Grade A also performed well with 780 sales, increasing 140% QoQ.

Grade C pricing is closer to most Vietnamese purchasers’ affordability and hence captures a larger pool of end-users. Developers offering reasonably priced units typically target areas with inexpensive and readily available land, and improved and planned infrastructure. In Ho Chi Minh City, Grade C development hotspots include the areas surrounding Vo Van Kiet Boulevard in the west and Pham Van Dong Boulevard in the east.

Office Index

In Q3/2016, the Office Index was 86.7, increasing 2 points QoQ and 7 points YoY. Improvements resulted from occupancy increases of 1 ppt QoQ and 4 ppts YoY, and rent increases of 1% QoQ and 3% YoY. The average occupancy reached a new high of 98 percent!

Grade A projects in the CBD performed well with average rent increasing 4% QoQ and YoY. As a result, the CBD index rose 2 points QoQ and 5 points YoY.

Meanwhile, the non-CBD also performed well with average occupancy increasing 2 ppts QoQ and 6 ppts YoY, resulting in the non-CBD index rising 2 points QoQ and 10 points YoY.

For more information, click 29112016 – Savills Property Price Index (SPPI) in HCM HN – EN and 29112016 – Chỉ số giá Bất động sản Savills (SPPI) tại HCM HN – VN


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