HANOI (XINHUA) – The real estate market in Vietnam’s capital Hanoi will surpass that of southern hub Ho Chi Minh City in the short term, VnExpress reported, citing an expert from the property research firm CBRE as saying on Friday.
Director of CBRE Vietnam’s housing marketing department Vo Huynh Tuan Kiet said there had been disparities in the recent months between the two biggest real estate markets in Vietnam, with Hanoi’s new supply reporting 8,277 units in the third quarter of this year and Ho Chi Minh City having just 127, the lowest number in a single quarter in the past decade.
He predicted that Hanoi’s real estate market would have 38,000 units by 2026, compared to Ho Chi Minh City’s low supply of 29,000 units.
While Ho Chi Minh City saw a four per cent to eight per cent increase in home prices in Q3, Hanoi saw a 16 per cent to 27 per cent surge, he said.
