VinCity Apartment will bring a new breeze for the segment of affordable housing in Vietnam. Will there be affordable flats that are superior in quality?
Current status of cheap apartments
As we know, the demand for cheap apartments in Vietnam is extremely large on the market today. However, the number of projects exploited and served for this customer segment is not much. Worsely, there are too few projects in this segment to be highly appreciated. The investors have been implementing low-cost apartment projects including Muong Thanh, Becamex, Viglacera, Nam Long, Dat Xanh or Hung Thinh M & A, Vinaconex, … And the most prominent project among these are real estate projects of Muong Thanh Group. However, after a period of putting into operation, the low-cost apartment projects of this group have also revealed many shortcomings. And here is the general status of the current low-cost apartment projects:
- Lack of sync utilities.
- Too large construction density.
- The problem of management, especially inadequate maintenance fund and fire protection.
- Not guaranteed construction quality.
- Most of the projects are built in far places where the infrastructure is not synchronous.
- Lack of support on payment and preferential loans.
What types of customers is subject of VinCity apartment?
With a selling price of only 500 million VND per unit, it can be said that VinCity apartments are the perfect choice for households and individuals living and working in Hanoi and Ho Chi Minh City with an income of about 20 million per month. In provinces such as Hung Yen, Ha Tinh or Thanh Hoa, you are affordable enough to buy apartments in the Vincity project with income of over 10 million, because the price of the Vincity apartment here is only 450 million/unit.
However, according to real estate experts and financial advisors, customers should make reservation to buy apartments immediately after they have accumulated about 50% of the value of apartments or more. And you should borrow an amount of 50% of the apartment value. Buying a Vincity apartment to live, to make a profitable investment, to accumulate assets are all the brightest decisions for the above-mentioned income earners.
Issues to consider when buying a Vincity apartment
- To get a bank loan, you have to prove your income.
- Selling price is expected to increase over time.
- The Vincity projects in Hanoi and Ho Chi Minh City are quite far from the center.
Strong points of VinCity apartments compared to the common cheap apartments of the market
- Vincity has a great system of utility thanks to the inheritance of the success of Vinhomes.
- Especially, the price of the apartment is quite cheap compared to the ground price and the value of the building.
- Where Vingroup invests, the surrounding infrastructure will rapidly develop.
- Vincity has good construction quality. The prestige of Vingroup is the guarantee for that.
The above is the briefest information about the mass real estate segment – VinCity apartment project of VinGroup is warming the real estate market over time. If you are interested in this project, please contact the project consultant to get the best support.
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