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Demand for flats in VN rising

Demand for flats in VN rising

(Vietnam News/ANN): The affordable apartment segment will be the star of the Vietnam property market in the coming years, but its supply is increasingly scarce while the demand for this type of apartment remains high, according to an analysis by property services firm CBRE Vietnam.

In the first half of 2018, the number of affordable apartments opened for sale in Hanoi and HCM City decreased by 20 per cent and 36 per cent, respectively, over the same period last year. CBRE forecast that the supply of affordable products will remain scarce until the end of this year.

In fact, most of the apartment projects that have prices ranging from 1.5 to two billion dong ($64,377 to $85,836) per unit have good transactions. At this stage, as the market for land near HCM City is cooling down, the money flow from investors is oriented towards middle-range apartments.

According to experts, the supply of projects which have apartments priced around two billion dong each is scarce while the actual demand is large. Almost all of these projects quickly sell 80-100 per cent of their units when the sale begins.

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