After seven gloomy years, the real estate market in Ho Chi Minh City saw a good recovery in 2015 with the number of apartment offered for sale and traded hitting the highest to a year ever. A total of 45,000 new apartments are expected to open for sale this year. Last year investors of 78 projects offered for sale nearly 42,000 apartments, up 122 percent over the previous year. About 47 percent of these concentrated in the eastern areas of the city and 27 percent in the south. Of them 36,160 apartments had been traded, a year on year increase of 98 percent, comprising over 33,000 sold to individuals, up 83 percent. The best-selling apartments had the price of VND1.3-1.5 billion (US$58,000-67,000), accounting for 75 percent of total transactions. Selling price in the primary market averaged US$2,012 per s.q meter, up 4.4 percent over 2014. High class products saw it rocket by 8.3 percent to average US$2,025 per s.q meter now. Recovery signs in the market have sent investors reopen many projects that had been blanketed for many years by increasing investment capital and changing designs, apartment areas, prices and names of the projects. Ms. Duong Thuy Dung, director of…
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