The Low-End Segment Will Dominate The Market In 2017

A series of affordable housing projects being announced by businesses at the end of the year will make this segment dominate the market next year.

Spread over Saigon

PHPReal is about to launch 1,233 apartments priced at VND1.2 billion from The Western Capital. This is a project developed to target young customers who need soft housing but have a standard quality of life.

The Western Capital has three 36-story blocks stretching over 700m above the four-lane frontage in District 6. The project has the highest interior finish in District 6. Residents will receive high-end home and office floors. , intercom, kitchen cabinets on the bottom, high-grade kitchen, standing glass bathroom, lock from each apartment, ceiling plaster, touch lights …

With policies to support up to 70% of VP Bank’s apartments and preferential interest rates for 25 years, customers pay only 360 million dongs. Therefore, only VND 7 – 10 million per month can own the apartment in The Western Capital.

Similarly, Van Thai Land has just co-ordinated with Thuan Kieu Company to hold the groundbreaking ceremony of Topaz Home. The project is 14,770sqm, located at Phan Van Hon street, District 12 with 8 blocks 20 floors high. Construction density is 55% with the number of apartments up to 1,172. The apartment area is from43.5sqm to 69sqm.

In the West, there is a project of Summer Square developed by GotecLand Vietnam Co., Ltd, which is built on a land area of 3,201sqm.

Chuong Duong Home is the first social housing project in Thu Duc

In the East, Chuong Duong Joint Stock Company has held the groundbreaking ceremony of Chuong Duong Home social housing project in Thu Duc. The project includes 5 apartment blocks, will provide more than 1,200 apartments social housing area from 40 – 63sqm selling price from VND13 million / sqm.

The project is built on an area of 2.6ha with the total investment of nearly VND1,000 billion. Chuong Duong Home is invested in building synchronous technical infrastructure, services such as 5-story commercial center, school …

This is the first social housing project in Thu Duc to meet the housing needs of the densely populated suburban district of Ho Chi Minh City. The first quarter of 2018 will be handed over to residents.

Located in the front of Lien Phuong Street in District 9, the Sky 9 project of the National Organization Corporation owns a prime location. The project has the size of 18,333 m2 with 3 blocks from 17 – 19 floors. The apartments have an area of 46-74.24 sqm, built from 2 to 3 bedrooms.

Another project of the National Housing Corporation is Saigon Metro Park, which is built on an area of over 3,200 sqm in Thu Duc. This project is synchronous with the infrastructure system and traffic routes of Ho Chi Minh City.

Saigon Metro Park is priced at VND850 million per two bedroom unit. Other facilities such as business center, spa, gym, children’s playground … are also built in the apartment.

In addition, many businesses are turning to the trend of affordable housing for low-income people. Nam Long Corporation, for example, launched the EHomeS product line. L & L group are simultaneously deploying apartments Asa Light, Ouyang Lan Tower, The Avila …

The Saigon Metro Park project has a synchronous connection to the transport network

Vietcomreal is launching the Viva Riverside project. Him Lam Land with 2,000 cheap houses in East HCMC. Urban Infrastructure Development and Construction JSC – BID Vietnam also want to invest tens of thousands of cheap apartments in Ho Chi Minh City. All of these products are priced at about VND 1 billion, spread across all districts of Ho Chi Minh City.

Talking to reporters, Le Hoang Chau, chairman of the HCM City Real Estate Association said that in the first nine months of the year, when the segment of low-cost housing demand is very limited.

The property market has shown signs of slowing down, potentially causing instabilities such as slow-moving transactions, signs of phase shift to the high-end real estate segment while the lack of medium-sized apartments and Small 1 – 2 bedrooms are available at affordable prices.

However, as the end of the year, more and more affordable housing projects are launched. This is a good signal to regulate the market and help people easily buy houses to settle. The property market after the breakthrough necessary development will return to the equilibrium stage to develop more stable.

“The boom in a number of low-cost projects will create competition, helping the market purge out-of-capacity investors. More importantly, it is time to focus on the buyer’s interests. Next year, the segment of cheap housing will definitely lead the market, “Chau said.

Tran Khanh Quang, General Director of Viet An Hoa Company, said that when the high-end real estate has signs of slowing down, a series of businesses announced will launch hundreds of thousands of affordable housing to the market again.

However, as the end of the year, more and more affordable housing projects are launched. This is a good signal to regulate the market and help people easily buy houses to settle. Real estate market after the breakthrough necessary development will return to the equilibrium stage to develop more stable.

“The boom in a number of low-cost projects will create competition, helping the market purge out-of-capacity investors. More importantly, it is time to focus on the buyer’s interests. Next year, the segment of cheap housing will definitely lead the market, “Chau said.

Tran Khanh Quang, General Director of Viet An Hoa Company, said that when the high-end real estate has signs of slowing down, a series of businesses announced will launch hundreds of thousands of affordable housing to the market again.

According to Khanh, the supply of cheap housing will meet the real needs of people rather than create markets for investment customers. Buyers will benefit from the competition of businesses. The competition here is not the low price but the quality of products and services.

“This competition will eliminate the weak, low-capacity investors. The low-cost housing segment will be an important factor to ensure the healthy development of Vietnam’s real estate market after several years of hot growth, “Khanh said.

The Western Capital project is the largest in District 6

Meanwhile, Ms. Vo Thi Diu Hien, General Director of PHPReal, said that the real estate market after the waves needs to find its real value to develop more stable, people need to buy houses. be home.
“The core segment of the market is affordable housing, despite being overshadowed in the past, but it will also return to its original location in 2017 and in the years to come,” she said.

Obviously, 2017 will be a year witnessed many changes in the real estate market, especially the segment of the cheap housing. Involvement of a large number of new businesses in the low-end housing segment will divide the market share.

Certainly, competition in the low-cost segment will be in the near future. Then, the customer will be the most beneficiaries.

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