HCMC: The Coastal Area Receives The “Landing” Of Luxury Apartments

(Construction) – If the former high-grade apartments are located in the central area with high prices, then the concept is gradually being removed.

Along with the race to expand the market share of the real estate giants, high-end segment is appearing increasingly in the neighborhood.

Him Lam Land or Hung Thinh Land are successful in high-end projects in the city

Leading the trend

Tran Thi Cam Tu – General Director of Eximrs Real Estate Services said that the quality of life is increasing, so in any area, there is a certain demand for luxury apartments. Therefore, the opportunity is still great for businesses to pick up. However, the higher the level, the more difficult the customer, requiring the owner to really prestige, professionalism brings confidence.

In fact, high-end apartments have spread to the outskirts of the city, rather than concentrated in some central districts of Saigon. There are Richstar (Saigon), Saigonhomes (Binh Tan), Him Lam Phu An (District 9), Him Lam Phu Dong (North Saigon), Roxana Plaza (North) Saigon)…

Particularly, the “hot phenomenon” of the high-end apartment project in the West was announced at a price of only VND 880 million / unit. Not only surprised by the price, Saigonhomes is also considered as a new symbol in the high-end segment of the area with many facilities such as Coopmart Supermarket; Fahasha bookstore; Trade Center; Café Terrace; Pool; BBQ area; bilingual Vietish; 2 car garage more than 8,000 sqm …

With the high standard of investment in the suburbs, the price is over 1 billion, not only Saigonhomes that are flowing. In particular, Calla Garden (South Saigon), Roxana Plaza (North Saigon) … The general point of these projects is the complete synchronization, the handover complete with many high-end brands, not inferior. projects in the center.

Previously, Him Lam Land was a giant pioneered investment in high-end apartments, after successful with many high-end projects in the center. Him Lam Phu Dong (North Saigon), Him Lam Phu An (District 9) are equipped with synchronous facilities, high-grade equipment Him Lam Riverside (District 7), but the price reduced. about 10 million / sqm, thanks to the cheaper land bank.

Hung Thinh Land, as well, has invested in high-end projects such as Moonlight Residences (Thu Duc), Lavita Charm (District 9), Moonlight Residences Park View, Moonlight Boulevard (Binh Tan) …

The good point of these projects is the moderate apartment area, with the initial price of about 1-1.5 billion / unit. For Him Lam Land or Hung Thinh, the strategy of attacking the coastal areas continued to be successful with good liquidity and margins of projects under 20%, in less than a year.

According to Mr. Ngo Quang Phuc – Deputy General Director of Him Lam Land, to have a good price to the buyer, the investor will have to choose the location, easy to connect, instead of the center to reduce the land cost. In addition, high-end luxury apartments are not synonymous with quality. The difference to a project that meets the high standard is the high-end facilities and equipment must be high-end real estate.

The price is “soft” but many projects such as Saigonhomes still hand over advanced equipment

Competition by value

With the new trend, high-end projects have moderate prices, is spreading to the coastal areas, she said, the target of these projects are usually young people, stable income, would like to enjoy a comfortable life. The reason they bought the apartment can be because they are used to living in this area or not enough to buy luxury apartments in the center.

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Although the market potential is very large, however, Tran Van Dung – Director of Truong Phat Real Estate Company said that with the high-end apartment price of 1 to 1.5 billion, the investor must have the most advantage. We have a long-term view of the land fund and accept low margin to share with our limited financial customers. On the other hand, the owner must show credibility, professionalism in the first place, when delivering high-level messages at soft rates.

Mr. Dung’s comments are also realistic with the projects that have created the last time. With Him Lam Land, this brand is prestigious, associated with many high-level projects from before so it is not difficult to create confidence for customers.

Or, as Saigonhomes project, not only publish the list of equipment handed over well-known companies, investors also select details to each product code and announce the cooperation certificate with each genuine supplier. This will ensure that the actual home will be like the model house, no change in product “equivalent” as some other projects on the market.

According to Nguyen Tan Hoang, Director of Phu Hoang Land, there are not many businesses dare to develop high-end projects in the coastal areas. While demand for apartments from the popular to high-end in each area is real. This is an opportunity for quick investors. However, if there is a lack of clear positioning as well as competitive advantage in the cost structure of apartments, businesses will have difficulty in the consumption problem.

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