Many Homes With The Price Of VND 1 Billion In Ho Chi Minh City

Recent reports of the Vietnam Real Estate Association show that in October HCM City real estate has a lot of projects worth VND  1 billion offered, most of the projects costing  VND 1 billion are located. In the inner fringes of the city center, away from the inner city. However, cheap supply is still “low” compared to the middle, high and luxury segment.

At the end of October, Nam Long Investment Joint Stock Company, Nam Long Group, launched the Phu Huu EhomeS social housing project in District 9, Ho Chi Minh City. This is the first project of the home product line, priced at about VND  599 million / unit, inclusive of taxes and maintenance fees.

Demand for affordable housing in HCMC is too great while supplies are limited, not meeting demand

Coming into the race, Nha Mo Joint Stock Company is also introducing the Dream Home Palace project located in front of Trinh Quang Nghi Street, District 8 with the price of VND 898 million for apartments with 2 bedrooms.This is the project that the Global Group (Japan) cooperated with Nha Mo Group to design, build, manage and operate.

According to the investor, customers only need to pay 15% when signing the contract, 15 months after paying 10% and 5% upon receiving the house, grace the principal until the house and support interest rate of 5% per year in 24 months.

See more: Vietnam Real Estate News

Also in District 8, the Times House is offering Heaven Riverview apartments for only VND 800 million / apartment.

In the VND  1.5 billion segment, Him Lam Land will introduce Him Lam Phu An high-end apartment project with 1,000 apartments at an average price of VND1.5 billion per unit this November. The project has the size of 1.8 hectares, including 4 blocks with 17 floors with 1,092 apartments, the area from 62 to 66 sqm/unit, targeting young family.

HCM City Real Estate Association Chairman Le Hoang Chau said that the demand for affordable housing is under VND  1 billion, but to own this house is quite difficult.

Chau analyzes that the city now has about 50,000 young couples married and in need of housing. In addition, the number of immigrants entering the city is growing, many of whom need housing. Not to mention the number of students going to school every year that needs to stay in the city work quite high. This is also a big challenge to the development of HCMC because the demand for affordable housing is too great while the supply of affordable commercial housing and social housing is scarce. satisfy the requirement.

According to Regina Lim, Head of Capital Markets Division at JLL is one of the fastest growing countries in Southeast Asia, Vietnam is a golden age structure with about 60% of A total of 90 million people under the age of 35. With the economy growing steadily, the employment situation in manufacturing and service sectors has increased significantly over the past two decades and is expected to continue to grow for the next 10 years, while promoting and Improve the income level. Therefore, JLL expects the income and purchasing power of Vietnamese consumers will increase.

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