Housing prices in central provinces have cooled off in recent times after rapidly rising in 2018-19.

A view of Nha Trang City, Khanh Hoa Province. Housing prices in central provinces have coolled off to a more reasonable level, according to the Viet Nam Association of Realtors.

According to the Viet Nam Association of Realtors, after increasing rapidly in 2018-19, housing prices in Da Nang, Nha Trang and Quang Nam are now more reasonable.

In Da Nang City, for example, FPT City had prices of around VND22-25 million, Hoa Xuan Urban Zone VND20-27 million and Nam Hoa Xuan 27-30 million per square metre.

In Quang Nam Province, projects in the cities had prices of VND40-60 million and VND17-20 million per square metre in emerging districts.

The association said in the first nine months of this year, the Da Nang and Quang Nam real estate markets did not see many new offerings and housing supply of projects with good infrastructure system and clear legality was limited.

Projects which drew attention in the third quarter of this years were Hoa Xuan and FPT City in Da Nang.

In Quang Nam, Epic Town and 7B Quang Nam Urban Area were also drawing significant interest. About 60 per cent of the units on offer were sold.

Projects which had basically completed their investment in infrastructure and had clear legal status and reasonable prices were the most attractive to investors, the association said.

In Khanh Hoa Province, statistics of the Viet Nam Association of Realtors showed there were few real estate projects approved in the past two years.

The market did not see robust transactions while prices also dropped by 20-30 per cent.

Prices of high-end apartments in Nha Trang City fell from VND40-60 million per square metre to VND30-50 million. Middle-end apartments now had prices of around VND22-30 million.

The association said projects in areas with development planning and improving infrastructure would attract investors.

The association forecast that transactions of land in the western and northern Nha Trang, Bac Van Phong and Cam Lam would be robust in the remaining months of this year and next year.

September saw a significant interest of investors in real estate projects in Khanh Hoa, the association said.

Source: VNS