Greater HCMC Ready-built Landed Property 3Q21

The new launch^[3] of the Greater HCMC area reached 274 units in 3Q21, coming only from small-scale projects in Binh Duong and Long An, with each province providing about 120–150 units. HCMC, being the centre of the pandemic, recorded no new launches this quarter. The strict lockdown in the South heavily affected the launching plans and construction progress of many projects, leading to no new project launch in Dong Nai and BR-VT.

Demand from owner-occupiers still healthy 

The total take-up of Greater HCMC reached only 224 units, significantly decreasing at 87.4% q-o-q, in line with reduced supply. HCMC recorded only 47 units sold, falling 74.3% q-o-q. Binh Duong and Long An continued to record low sales at under 100 units for each province. Meanwhile, Dong Nai and BR-VT recorded no transactions. The strict lockdown has hindered face-to-face transactions and project visits, leading to a significant reduction in transactions, mainly from investor-buyers. Demand from owner-occupiers was still healthy as buyers are mostly local residents in their own provinces, rather than from HCMC as previously.

Primary prices continued increasing

In 3Q21, the RBL average primary price in Greater HCMC was recorded at USD 2,913 per sqm land, an increase of 15.7% y-o-y and 2.2% q-o-q. However, for well-developed large-scale integrated projects in Dong Nai, the typical growth rate is up to 4-7%  q-o-q.

Online tools were still being used by developers and sales agencies to maintain marketing and communication with customers during the pandemic. Attractive sales programmes were also implemented, such as a zero-interest support package until project handover or a buy-back programme with guaranteed profit.