Greater HCMC Ready-built Landed Property 2Q21

Supply remains dynamic in the satellite provinces of HCMC

The new launch [3] of the Greater HCMC area reached 1,843 units in 2Q21. New supply in HCMC remained limited, with only 173 units, mainly coming from small-scale townhouse projects in Tan Phu and District 12. Dong Nai province recorded the highest new launch with 50.3% of the basket with 927 units, far exceeding the second place of BR-VT with 504 units. However, most of the launches took place before the fourth outbreak in Greater HCMC which led to many launching events postponed.

Stable demand, but slowing down at quarter end due to pandemic

The total take-up of Greater HCMC reached 1,781 units, slightly decreasing at 8.8% q-o-q. In tandem with limited supply, HCMC recorded only 183 units sold, decreasing 41.2% q-o-q. Similarly, Binh Duong and Long An recorded low sales at over 100 units for each province.

Meanwhile, the sales volume primarily came from large-scale integrated projects in Dong Nai and BR-VT (865 and 500 units, respectively). However, it is noted that most of the sales happened during April and early May. The fourth outbreak partly reduced the number of transactions at the end of 2Q21 because launch sales events and project visits were hindered.

Prices increasing, together with attractive sales programmes

In 2Q21, the RBL average primary price in Greater HCMC was recorded at USD 2,849 per sqm land. The whole market continued to register a strong price growth of 15.9% y-o-y and 7.9% q-o-q. This high increase was mainly driven by large-scale integrated projects in Thu Duc City, Dong Nai and Long An, and projects located in highly urbanised areas in Binh Duong. 

In response to Covid-19, many developers turned to online methods to market their products. They introduced attractive sale offers to attract customers, such as extending payment schedules, zero interest purchase for an extended period and valuable gifts.