Housing prices in the South will increase by nearly 30% - 35% in 2022

By the end of 2021, the average price of land-based houses in the southern primary market reached $2,955 per square meter of land, an increase of 28.8% over the same period.

 

Housing prices in the South increased by nearly 30% - 35% in 2022

 

JLL's market report on the five southern provinces said,

The supply of ready-built houses in Ho Chi Minh City, Binh Duong, Dong Nai, Long An, and Ba Ria - Vung Tau all increased their primary asking price by the end of 2021. The average asking price of land houses in Saigon recorded about 6,500 USD. one m2 of land does not include value added tax (VAT), while the 4 neighboring provinces fluctuate in the range of 1,800-3,000 USD per m2 of land.

In the fourth quarter of 2021, the average selling price of land houses in these five southern provinces was recorded at $2,955 per square meter of land, up 28.8% over the previous year. Many investors of large-scale integrated projects in Dong Nai and Long An provinces increased prices by 5-10% compared to the previous sale and increased by 20-30% in the past 12 months. The reason for the increase in the price of land-based houses is that the new basket of goods all fall into the group of high-value assets such as riverside mansions, large-area commercial townhouses opposite the commercial square, marina...

JLL said that the sales of new townhouses in the southern market in the fourth quarter of 2021 reached nearly 2,100 units, of which Ho Chi Minh City contributed only 223 units (mainly from small-scale projects). New supply growth mainly comes from four satellite provinces with more than 1,800 units, led by Binh Duong with more than 1,000 units, followed by Dong Nai with nearly 500 units, Ba Ria - Vung Tau with 250 units and finally Long An. nearly 100 units.

Four satellite provinces: Binh Duong, Dong Nai, Long An, Ba Ria - Vung Tau have successful transactions of over 2,030 units, coming from large-scale integrated and complex projects. Ho Chi Minh City sold 214 units, concentrated in areas with a high population of immigrants including District 12, Tan Phu, and Binh Tan.

 

In 2022, it is expected that about 11,400 ready-built townhouses and villas will be offered for sale in 4 markets in the coastal areas of Binh Duong, Dong Nai, Long An, Ba Ria - Vung Tau. Ho Chi Minh City alone has a more modest supply (estimated to have 1,500-2,000 units eligible for sale) this year.

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