Property Devt & Invt: Yet to recover – Update
- Ho Chi Minh City (HCMC) residential market (RE) was sluggish in 2019 with new condo supply falling 13.3% yoy and sales volume contracting 3.9% yoy.
- Hanoi residential market saw new condo supply hitting a five-year high, rising 21.9% yoy to 36,356 units.
- Maintain sector Neutral as slow regulatory process and tightening credit to property would hinder market growth in FY20F.
Please follow this link for the full report
You Might Be Interested
Sector note
46
Banks still recorded robust profitability in 1Q22 given strong credit growth, robust fee incomes and well-controlled credit cost. We believe the recent market sharp correction has brought banking sector back to buy territory with intact outlook over FY22-23F. Top pick…
Sector note
38
Feed costs have been accelerating following the Russia–Ukraine conflict, weighing on local meat producers. In 1Q22, live hog price improved 18.6% qoq but decreased by 30.7% yoy. We maintain our Neutral rating on the sector. Meat producers struggled in 1Q22…
Sector note
37
There are some signals that Block B field development project to be awarded FID (Final Investment Decision) in July 2022, setting a premise for this project chain to kick-off. Block B – O Mon chain will be a great growth…