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By Duc Minh April 18, 2022 | 11:13 p.m. PT

The central business district of HCMC. Photo by VnExpress/Quynh Tran

House prices rose 1.5 to 3.6 percent in March, according to a survey by the Ministry of Construction.

The survey, based on data from eight cities and provinces, also said building material prices rose 1 to 3.5 percent from the previous quarter.

Land prices appreciated the most in the real estate sector, rising 2.85% month-on-month in Hanoi and 3.6% in HCMC.

Prices for apartments and independent houses increased by 1.53 and 2.24% in Hanoi, and by 2.48 and 2% in HCMC.

Reports from the property consultancy also pointed to an upward trend attributed to growing shortages of supply and construction costs and delayed legal proceedings.

CBRE said in the first quarter that new properties in Hanoi cost 13% more than a year ago.

Cushman & Wakefield estimated that apartment prices in HCMC have risen by almost 30%.

The ministry said cement prices rose 1-3% in the quarter, 30,000-50,000 VND ($1.31-2.18) per ton more than in the fourth quarter of the year. last year.

During the period, steel prices increased by 3.5 percent to reach VND 18,600 to 20,600 per kilogram, he added.

Prices for other building materials changed slightly, but are expected to rise sharply due to soaring gasoline prices and scarcity caused by the Russian-Ukrainian conflict.