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Real estate agents have been reporting a huge increase in the number of sales of condominiums in the city of Ho Chi Mo.
In November, the number sold was 3,907 units, a 17.7% increase compared to the same month last year, when there were 2,636 units sold.
The city’s real estate market is already booming.
The real estate agent at the Ho Chi Nam Hotel said they saw an increase of nearly 4,000 sales during November.
The average number of units sold per week during November is between 10 and 14 units.
The number of condo sales is still much lower, at 2,000 units, which is still lower than in other major cities such as Chengdu, Guangzhou and Shanghai.
A hotel manager at a nearby property said the condo sales have boosted the hotel’s sales by more than 1,000 per week.
He added that there has also been a significant increase in condo sales at some of the more expensive hotels.
This may be because the price of condos has increased more than that of the properties they replace, according to the hotel manager.
He added that it is a lot easier for condominium owners to sell their property than it is for other properties.