HCMC apartment sales hit 3-year low

It was equivalent to just 16-26% of supply.

All the new supply was of grade A apartments in Thu Duc City and other southern areas, with the prices mostly staying unchanged from last year.

DKRA Vietnam said sales slumped on credit tightening by banks and the fear of bad luck during the Hungry Ghost Month (the seventh lunar month), which prevents Vietnamese from making important decisions.

DKRA expects the government’s easing of lending to help the market recover.