Savills Vietnam recently released its market brief for both Ho Chi Minh City and the findings showed Vietnam’s impressive macroeconomic indicators continue to support the excellent performance of the property market in the city. A 16 percent increase in international arrivals has also benefited the real estate sector.
Total apartment unit sales were down in HCMC year-on-year, but absorption reached a five-year high of 88 percent as demand remains strong. Savills Vietnam is expecting 57,000 apartment units to be launched in 2020, up from the estimated 35,000 that hit the market last year. A total of 108 projects are set to be launched between now and 2020, according to the consultancy’s report.
Notable HCMC property developments
One of the most impressive HCMC property developments to launch last year was Akari City. Designed as a multi-purpose residential city, the project features renovated and upgraded apartments; shopping and dining outlets; an education area; a healthcare center; gardens and landscaped areas; and an amusement park.
Akari City was inspired by Japanese architecture, design and planning in order to create a residential zone that is both exclusive and secluded from the hustle and bustle of HCMC. Savills Vietnam was appointed as the official sales agent for international buyers at Akari City.
Another interesting residential project in HCMC is De La Sol from CapitaLand Vietnam. The stylish development is located in District 4 of HCMC, an area that has grown in popularity as it offers easier access to District 1 than other upscale residential locations such as District 7. Additionally, De La Sol features high-end amenities and luxurious units that cater to the needs of the modern resident.
This year will be an interesting one for the HCMC property market. Those considering a real estate purchase or investment are urged to work with a trusted partner, such as Savills Vietnam, to ensure a transparent and straightforward experience.