Chi Tran Research Manager HCMC at Cushman and Wakefield Vietnam refers to the latest search data predicts that the year-end will still see a slowing further in the villa for sale sector. HCMC expects 50,000 plus dwellings coming on line up to 2020.
Similar to other sectors, villa market in HCMC suffered low levels of activities recently. Small and medium size dwellings continued to retain favour with the majority of buyers. The average selling price remains a downtrend. However, this sector is still promising, as it has a small target market of wealthy people. Moreover, landed properties are preferred by Vietnamese who believe this is a low risk investment channel in terms of price reduction and legal ownership.
The negative influence from the market downturn has made a large number of developers slow the progress of their projects. Furthermore, some projects that are ready to launch, were put on hold. Villas, especially in well-developed urban areas such as districts 2 and 7 remain attractive to majority of purchasers.