Vingroup and Tan Hoang Minh were leading in sales volume and revenue of apartments in the local property market in the fourth quarter of 2017 (Q4/2017), according to the Savills Viet Nam, a foreign property service provider in the country.

Do Thi Thu Hang, Associate Director-Research, Savills Ha Noi, said currently, 98 per cent developers of real estate projects were domestic enterprises.

The top three investors with the highest revenue in sales of apartments are Vingroup, Tan Hoang Minh and Sungroup. But when it comes to sales volume, Vingroup, Tan Hoang Minh and Geleximco are the market leaders.

In 2017, 63 new projects entered the property market. New launches remained unchanged year on year (YoY), but primary supply increased 14 per cent YoY. Grade-A projects had the best performance, tripling sales YoY, according to Savills Viet Nam’s quarterly report on Ha Noi property market in Q4/2017.

Savills said customers are buying Grade-A apartments for lease, besides residential purposes. This is the main reason for the impressive increase of this segment.

Meanwhile, the number of sold apartments increased slightly for the Grade-C segment but declined for the Grade-B segment.

Over the past year, Vingroup and Tan Hoang Minh have provided thousands of Grade-A apartments through Vingroup’s Vinhomes branded projects and D’s chain of projects. — VNS