The Grand Manhattan, which has been introduced to the market half a year ago, keeps the luxury property segment hot thanks to its dual benefits of rising prices and high rental yields in the future.

The Grand Manhattan boasts a frontage onto Co Bac Street and Co Giang Street in the heart of District 1

According to a report by CBRE Vietnam, the entire Ho Chi Minh City only has around 400 luxury apartments priced from $3,500-7,000 per square metre, mainly concentrated in the heart of District 1, accounting for a humble rate of only 0.3 per cent of the total apartment supply (nearly 160,000 units).

As land is scarce in District 1, the primary and secondary prices of luxury apartment have been pushed up in the past few years. Bloomberg cited data from CBRE showing that prices for luxury condominiums in Ho Chi Minh City climbed 17 per cent in 2018 to an average of $5,518 per sq.m. The firm forecasts that prices will nearly 10 per cent by early 2020 to $6,000 per sq.m.

Read more at VIR.