Real Estate Transactions See Low Successful Rate in 2nd Quarter

Real Estate Transactions See Low Successful Rate in 2nd Quarter 30/07/2009 08:14:00 368

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Vietnam saw a rise in the number of real estate transactions, but the low successful rate, accordingtoCB Richard Ellis.

 

As for high-rise buildings of grade A, the floor area rose 35 per cent compared to the first quarter of this year with the average price offered for rent of US$40.8 per month. Meanwhile, the average prize to hire a service apartment continued falling in the second quarter. Particularly, investors offered weekly or even daily prices for rent. This makes service apartments become a tough rival for four or five-start hotels.

 

CB Richard Ellis said the number of real estate transactions in the quarter tended to grow, nevertheless, the rate of successful cases remained low because it was impossible for buyers to negotiation the prices with sellers.

 

Despite new supply sources from Master Zone and Saigon Pagagon inaugurated last month and Kumho Asiana Plaza slated for operation in September, realty prices are still forecast to stay stable due to the supply shortage, the firm added.

 

VCCI