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Property prices surge in 2020 despite pandemic
By Trung Tin, Dat Nguyen December 30, 2020 | 04:03 pm GMT+7
Buildings in District 1, Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
Property prices have been soaring in Hanoi and HCMC this year despite the economic downturn caused by the Covid-19 pandemic.
Apartment prices in Thu Duc City, a new urban area in eastern HCMC, are at an unprecedented VND60-90 million ($2,600-3,900) per square meter in the premium segment as the creation of the new city pushes up demand.
In the affordable segment, prices have risen by 20-40 percent to VND30-35 million as the new city is expected to usher in administrative reforms and growth.