Urban development has made the concept of home ownership of Saigon South completely changed. The massive appearance of a series of apartment projects has led to a fierce competition between the facade and the alley in the area.
As a person with many years of real estate brokerage experience in South Saigon, Nguyen Van Khoi told us, it is becoming increasingly difficult for real estate brokers. The reason for this is that there are many invisible and invisible apartment projects that create a fierce competition between two senses: choosing a fully furnished apartment or a townhouse alley.
Le Hoang Chau, Chairman of the HCM City Real Estate Association, said customers are increasingly demanding real estate developers, in addition to reasonable prices, the quality of construction, the progress of the project is very important. And Mr. Chau still believes in the sustainable development of the market, especially with the affordable housing segment.
“It is forecasted that the real estate market will have a strong restructuring and product restructuring to address the problem of supply-demand distortion, which is favored by high-end resort real estate. High-end, strong move to the segment of housing, small and medium apartments, affordable prices are in real need, very high liquidity”, added Mr. Chau.
Market observation in the Nam Saigon area shows that a number of projects are revitalizing strongly. Mizuki Park with a total of nearly 4,700 apartments, Kenton Residence has also revived with the new name Kenton Node or the project “wall mat” of Van Phat Hung was revived with the name River Panorama through the hands of An Gia.
Because of the excitement of the area and the perfect infrastructure, Nam Saigon is always the attraction of real estate developers. Therefore, Dat Xanh, Hung Thinh are also projects in this area are preparing to hit the market. And the market recorded the presence of “rookie” like Dream House (DRH) with D-Vela or Hung Loc Phat with Golden Star.
Seeking new demand
To win in a vibrant competitive landscape, project developers look for creative plans and strategies to meet the real needs of the market. In addition to changing the name of the project, the project owners have a look at the design of the company, investors are also looking for new customers.
For example, Keton Note is a new name for the Kenton Residence project, which costs $2 million to build a water music system in hopes of reviving the project. Green Land also makes a hanging garden at an expensive cost to attach to Lux Garden.
With DRH, they choose to hit the real needs of the customer and bring the product to suit the needs”. The company has researched the needs of customers who are relatively young people who often want to spend a good amount of money to buy a property to meet the lifestyle of civilized rather than the money. The race to buy a house in the deep alley with security is not guaranteed”, said Le Chi Hung Viet, Deputy General Director of DRH.
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Accordingly, only nearly 3 billion customers can own an apartment with 110 sqm area with 4 bedrooms overlooking the Saigon River with intelligent interior design and security 24/7. Instead, with $136,360, customers only buy a small house in the deep alley, not convenient transportation and security is not guaranteed.
According to Mr. Viet, DRH has a flexible fiscal policy when customers only need to pay 30%, that is about $18,200 and then customers can receive the house, the second installment interest paid no interest. This resulted in instant results, so D-Vela not only attracted buyers to live in, but investors also dropped money because they expected real estate values to increase as the regional transport infrastructure continued to be improved, and at the same time can buy the lease as this is the area where foreigners live.
In Nam Saigon, many projects that meet this demand, such as Dragon Hills of Phu Long or River Panorama, are also attracting customers as they unveil the market in July and August. According to a real estate expert, the rapid development of Saigon South not only brings a dynamic face to this area but also changes the concept of property ownership. The traditional alley is no longer in the forefront, instead it is a frontal apartment that is both commercial and securing the landscape. This trend will be increasingly popular in South Saigon, the most exciting area of the real estate market.
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