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Written by Administrator   
Tuesday, 07 March 2006
Article Index
Residential acommodation
Page 2- Hanoi overview
Page 3- National overview
Page 4- Short Term Future
page5-Medium Term Future
page 6 -Infrastructure Improvements

Short Term Future

Since the bottom of commercial property market cycle in 1999, when International Standard serviced apartment accommodation rentals were USD$22 per square metre a month, the average occupancy steadily increased to the point was reached since when average occupancies reached around 94%, which in many respects can be regarded as full occupancy given maintenance programmes, group bookings, and periodic voids. Naturally, rentals have and still are increasing to exploit the current demand-supply imbalance.

There are an increasing number of foreign­ers interested in owning condominiums, especially close to the city centre where many perceive that rentals and values will continue to increase and remain consistently strong. However the unavailability of any legal rights ‘in' condominiums (as opposed to leasehold contractual rights ‘over' property), have sufficiently deterred most such potential foreign buyers from investing.

New Supply : International Standard Serviced Apartment Accommodation

HANOI (Units)
HCMC (Units)
2005
1,300
3,450
2006
2,100
6,675
2007
1,200
5,325 (Inc Saigon Pearl )
2008
1,000
8,000 (Inc Keppel's Sports' City)

Ho Chi Minh City

Average asking prices
USD$ / sqm

Developer
No. Units
% Pre-Sold
Lancaster
$2,200
Vietnamese
90
50
Pasteur Court
$2,300
Vietnamese
156
75
Manor
$1,700
Vietnamese
426
70
Saigon Pearl
$1,400 (wef June 06)
Hong Kong JV
700 Phase 1
60
Horizon Tower
$1,000
Vietnamese
200
70
My Vinh Tower
$1,400
Vietnamese
66
70
Grandview PMH
$1,500
Taiwanese JV
198
90
Avalon
$2,200 (wef May 05)
BVI JV
51
50
Orchard Garden
$1,460 (wef June 05)
Vietnamese
206
N/A
Indochina Park Tower
$1,800 (wef June 05)
Vietnamese
100
50
Saigon M&C Tower
$2,700 (wef 2009)
Vietnamese
200+
N/A

Hanoi

Average asking prices
USD$ / sqm

Developer
No. Units
% Pre-Sold
Ciputra
$600
Indonesian JV
316
40
Pacific Place
$1,800
Taiwan JV
185
90
Manor
$1,500
Vietnamese
450
75

Central Business District – CBD – Land Prices : -

City

Av Price-$/sqm

End Value-$/sqm
Yield
Remarks
HCMC
6,700
670
10
Limited number of transactions
Hanoi
5,500
680
8
Limited number of transactions
Bangkok
2,500
250
10
Manila
3,000
375
8
Hong Kong
49,500
4,125
12
Government land sale
Singapore
20,250
3,800
12
99yr lease of 1.8 hectare site


Last Updated ( Saturday, 14 October 2006 )
 
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Easy Property specialises in Ho Chi Minh Serviced Apartments, Cheap Flats, Luxury Villas, Houses and Office Spaces on the lease for Foreigners, so we will satisfy all of your needs of renting the properties in Ho Chi Minh City, Vietnam.
 
For further information on real estate in Ho Chi Minh, please contact:
Address : 43A Nguyen Huu Canh, Ward 22, Binh Thanh district Ho Chi Minh city, Vietnam
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