Savills Vietnam has recently announced the Savills Property Price Index (SPPI)--a tool for tracking quarterly price index of different property markets, for the second quarter of this year. Accordingly, housing price index in Ho Chi Minh City rose marginally by 0.2 percent compared to the previous quarter, but dropped 3 points year-on-year. The number of transactions surged 59 percent year-on-year. The number of sold houses showed rise for four consecutive quarters. Savills noted that the residential price index had gradually increased since the second quarter last year. As for Hanoi City, housing price index continued to fall 3.6 points to 104.4 points. Thus, the index has plummeted by roughly 25 percent in eight straight quarters. Average price in the market has dropped 30 percent since second quarter of 2011 due to the entry of new projects as well as price reductions on existing projects. After rising continuously in 2012, the inventory has reduced in the first two quarters … [Read more...] about Housing price index continues to decline
Vietnam property price index
Property price index in two big hubs falls
In Hanoi, the index was at 104.7, dropping 3.6 percent quarter on quarter and 17.7 percent year on year. The index which has decreased for eight consecutive quarters by approximately 25 percent since its peak at 138.7 in the second quarter, is approximately equal to the base index. After increasing continuously during 2012, the inventory ratio decreased in the first two quarters of 2013. This quarter, the ratio decreased by -2 percentage points, reaching 93 percent due to an increase in absorption. It is a good sign for the overall improvement of the market's performance. Meanwhile, the market's average price, including new projects, has decreased 30 percent since the second quarter of 2011, due to the entrance of new projects and the price reduction of the existing projects. The Hanoi quarter-on-quarter office index increased from 2006 and peaked in mid 2008, due in part to the small market size and the limited number of new projects. Since the second quarter of 2008, the index … [Read more...] about Property price index in two big hubs falls
Savills property price index released
Savills Vietnam has introduced the Savills Property Price Index (SPPI) - a tool for tracking quarterly price movement of different property markets. It also track sub-indices in which price movements in grades, location, development areas etc are measured on a quarterly basis. For residential, the index is determined based on a sample of more than primary and secondary 200 projects in HCMC. For offices, the basket at Q3/ 2012 is comprised of 196 HCMC projects. In calculating the index, Savills has applied the constant - dynamic basket. The constant basket is maintained as price comparison between quarters, but new projects are included in the basket to ensure in-time reflection of the market dynamic. The base period of the SPPI is set at Q1/2009 with two separate indices: QoQ (quarter-on-quarter) index and QoB (quarter-on-base) index. By calculating and benchmarking the two indices against each other as well as other indicators, analysts can have an in-depth understanding of … [Read more...] about Savills property price index released
Savills Vietnam tracks the market
Savills Vietnam has just launched its property price index, a tool designed to track quarterly price movement of different property markets. Truong An Duong, head of research department of Savills Vietnam, said that in the first stage, the index would be used for Ho Chi Minh City residential and office-for-lease market with quarterly updates. In the near future, Duong said,. the index would be expanded to other segments and also other areas, and might updated on a monthly or even a weekly basis. For the residential sector, the index is determined based on a sample of more than primary and secondary 200 projects. For offices, the basket this third quarter is comprised of 196 projects. In calculating the index, Savills has applied the constant-dynamic basket. The constant basket is maintained as price comparison between quarters; however new projects are included in the basket to ensure in-time reflection of the market dynamic. The base period of the SPPI is set at Q1/ 2009. … [Read more...] about Savills Vietnam tracks the market
