Property sector to offer more variety

January 12, 2011 | 15:53

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Savills Vietnam on Jan. 11 released its positive expectations for the property market in Hanoi this year.

Savills Vietnam's Hanoi branch also expects the capital will receive more property products this year in major segments, such as offices for lease, serviced apartments, retail spaces, hotels, apartments for sale and villas/townhouses for sale.

Customers will benefit and have more options thanks to the higher product supply and the many incentives offered by owners in 2011, the company said.

Also on Jan. 11, Do Thu Hang, head of research and consultancy at the company's Hanoi branch, said the market saw better performance for almost all segments in the fourth quarter of last year.

In particular, Grade A serviced apartments performed the best among all grades with improvement in both average achievable rent and occupancy, Hang said. The occupancy rate of Grade A had a quarter-on-quarter increase of 3 per cent to 93 per cent for the last quarter.

The hotel segment saw better quarter-on-quarter performance because the end of the year was the high season, she said.

The revenue per available room (RevPAR) for the whole market increased 30 per cent against the third quarter and 6 per cent compared with the same period last year, she said.

Most of the current projects in the secondary market of villas and townhouses sold out in the last quarter.

The prices of both typically continued to increase against the previous quarter and varied significantly across Hanoi.

Cau Giay District retained the highest prices for both villas and townhouses due to its superior technical and social infrastructure, Hang said.

VNA

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