Latest developments in the real estate market in Thu Thiem

In the first half of 2022, land plots in Thu Thiem area showed signs of slowing down, while the supply of apartments skyrocketed.

The latest report of Cho Tot shows that apartments are the type of real estate with the largest supply in Thu Thiem ward in the first 6 months of 2022. After the first 4 months, the supply is relatively stable. and there were not many fluctuations, from May 2022, the supply of apartments here began to witness a strong growth and nearly doubled at the end of the second quarter of 2022 compared to the end of the first quarter of 2022.

Meanwhile, housing and land plots only account for about 40% of the total supply of real estate in this area. Unlike apartments, two types in Thu Thiem area showed signs of slowing down in the period of June 2022 after growing very quickly in the previous two months.

According to this expert, the number of projects in the first quarter of 2022 is relatively bleak because the new supply of the market mainly comes from the Empire City Thu Thiem project, with prices fluctuating around VND 15-16 billion/apartment. Entering the second quarter of 2022, the market received more large shopping carts from other projects such as The River Thu Thiem, The Metropole Thu Thiem, … with the supply increasing month by month with the selling price recorded from 4 billion VND/unit, to 16.2 billion VND/unit, …

The demand for searching, viewing and contacting apartments in Thu Thiem area increased sharply in March 2022 after experiencing the low season during TET as well as the limited supply of the first 2 months of the year 2022. According to Cho Tot statistics, the demand reached the highest level from April 2022 to May 2022. Although at the end of the second quarter in June 2022, the market recorded signs of cooling down of demand, but in terms of transaction execution rate after searching, June 2022 reached the highest level since the beginning of the year so far is nearly 25%.

Indicators of buyer demand for housing in the Thu Thiem area more than tripled in March 2022 after the Tet period – this is also the period when the fulfillment rate peaked. communication, equivalent to an apartment is 25%. After that, the demand continued to triple in the period of April 2022 and May 2022 (when compared to March 2022). However, this index soon cooled down in the period of June 2022 when it fell by more than half compared to the previous 2 months.

Particularly for land plots in Thu Thiem area, the amount of search interest increased slower than real estate when by April 2022, the level of interest increased 1.5 times compared to March 2022. After continuing to increase slightly in May 2022, the interest level as well as the transaction rate after searching for real estate listings in Thu Thiem area remains relatively stable at 22%.

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