Property Devt & Invt: Yet to recover – Update
Sector note 21/01/2020 329
- 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.
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