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Housing supply in Vietnamese capital rises in Q1

Xinhua, April 14, 2017 Adjust font size:

Vietnam's capital Hanoi saw a 49 percent year-on-year increase in housing supply in the first quarter (Q1) of 2017, according to the property market research company Savills Vietnam.

There have been a total of 24,160 new apartments available for purchase in the period, rising 12 percent against the fourth quarter last year, reported the Vietnam Economic Times on Friday quoting the company's latest report.

Of which, some 9,220 apartments are from new completed projects, up 39 percent year-on-year. Apartments from the middle-class (Class B) are posting the largest number of orders, said Savills Hanoi's Deputy Head of Research Do Thu Hang.

The company forecast that there will be some 40,800 new apartments offered in 2017, most of them in the Class B.

According to local experts, the market demand in 2017 will be mainly in the average and affordable price segments. Endit