HANOI, July 10 (Xinhua) -- Prices of condominiums in Vietnam's capital Hanoi are catching up with prices in Ho Chi Minh City in both primary and secondary markets, Vietnam News cited CBRE Vietnam's report on the capital's real estate market in the first half of this year.
In Hanoi's primary market, the average selling price was about 60 million Vietnamese dong (2,360 U.S. dollars) per square meter, excluding value added tax and maintenance fees.
That price was only 3 million dong (118 dollars) lower than the average price in Ho Chi Minh City.
Nguyen Hoai An, senior director for the research and consulting division at CBRE Vietnam, said the supply of new apartments in Hanoi increased fourfold in the second quarter of 2024 from the previous quarter.
Over 10,840 apartments were offered to the Hanoi's market in the first half of this year, the highest supply recorded since 2020, according to CBRE.
Meanwhile, projects with new offers in Ho Chi Minh City in the same period achieved good sales, as the number of apartments sold was equivalent to 80 percent of the figure seen in last year's corresponding period, said the firm. ■