According to insiders, the difference in supply and demand may have a negative impact on the city’s property market.
In this real-estate platform, the number of high-end transactions have decreased significantly compared with the same period last year, with around only 15 to 20 transactions per month. According to the platform’s representative, most projects are high-end apartments which can’t meet with majority of the demand from customers.
Luu Van Hung, Realcenter.vn, Real-estate Platform said: "Over past six months, the number of transactions have decreased sharply. Many projects have been launched but can’t meet real demands of customers".
A new project at the average segment is being opened for sale. And over 90 percent of its apartments have been purchased. According to the project’s investor, with the price of around 45 thousand US dollar per apartment, the project attracts many customers with average incomes.
Steven Chu, General Manager, Nam Long Company said: "The high-end segment has become redundant. We want to meet real needs and not just investing purposes. We will provide 3000 apartments with more reasonable prices this year".
According to latest survey of CBRE, there are around 6,000 real-estate transactions in the second quarter, about 50 percent lower year on year. Over 60 percent of supply in the market is in the high-end segment.
Le Hoang Chau, Chairman, Ho Chi Minh City Real-estate Association said: "In general, the 2016 property market is slowing down. The reason may come from the big gap between supply and demand".
Moreover, the recent conflicts between investors and its citizens have also had an negative impact on customers’ psychology.
