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The Market Entered The “Excitement” Period

Real Estate Market

After a relatively quiet time, in recent days, a series of projects have been launched to the market, the liquidity of each project spike, creating momentum for the market in the rest of the year.

Apartments have the price of approximate 1 billion still attracts lots of attention

On October 5, the company will hand over the apartment project named The Avila 1 (114 An Duong Vuong, Ward 18, District 8) and on November 15, 2017, the investor will officially handover the apartments to residents, then quickly provide the property right of use certificates to each customer within the expected time of up to 12 months from the date of handover. On September 30th, the inventor of the project signed with the partner company to put into operation the trade center to serve the residents.

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Officially launched the first building of The Avila 1 project in September 2016 (285 apartments), even at the time the apartment market faced many difficulties, but The Avila 1 still can be considered as the success. With favorable location, the project has attracted the attention of many customers who have a need to find a place to live a quality life. The Avila 1 is the choice of customers thanks to the appropriate price (about 1 billion per unit) and handed over on 5-10-2017 according to schedule committed, as late as November 15, 2017, the apartments will be handed over to residents.

Following this success, Thai Bao Company continues to associate with BIDV with a 100% financing commitment for the expansion phase of the project: The Avila 2 apartment. The Avila 2 is designed with 6 blocks which have 18 to 27 floors (2 basements) and have about 3738 apartments. The area of each apartment is from 50sm to 77sm, the selling price is from 16-18 million VND / sm. On average, a two bedroom apartment costs from 800 million to 1 billion.

You can read more information at Vietnam Real Estate Investment

Advantages of cheap housing segment

Tran Thi Cam Tu, General Director of Eximrs Real Estate JSC, analyzes that cheap houses are attractive to customers because they meet customer’s real demand. However, this segment has low-profit margin. While the reality of the real estate industry is the time it takes to develop a prolonged project, increasing the financial burden on the business. Therefore, businesses focus on developing more high-end projects, leading to the dephasing between the two segments. In addition, well positioned, favorable land fund is increasingly scarce, the cost of building materials increased, if the enterprise develops the project in the average price segment, the profit is not high. That is why businesses are not keen on this segment.

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Each project in this segment has its own characteristics and targets different customers. At present we are developing Saigonhomes project which is a rare project that converges many different advantages. First, the project is smartly designed. All spaces are fully utilized, all rooms reach natural light and fresh air.

At Saigonhomes, residents can enjoy the benefits not inferior to the high-end apartments as Coopmart Supermarket; Fahasha bookstore, commercial center, rooftop coffee, swimming pool, BBQ, Vietish bilingual kindergarten, 2 parking lots larger than 8.000sm land area… Although its price is not expensive investors have to take care of the products to improve its quality in order to attract customers.

Le Sy Nam, General Director of the Times House, apartments with a price under 1 billion segment is evaluated as a stable segment and not enough demand. However, that does not mean that every project is sold out. The increased supply, customers have more choices, push this segment into the increasingly fierce competition.

You are reading the article “The Market Entered The “Excitement” Period” in the section “Real Estate News” on the website: https://realestatevietnam.com.vn/
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The Market Entered The “Excitement” Period
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