If you find it difficult to distinguish between real estate terms that brokers use when working with you, let’s take a look at some of the specialized terms commonly used when discussing and trading with you:
Grade A Buildings: The high-rise building is located in the central area, with a floor area of over 1,000 sqm and a high ceiling of 2.75 m, professionally managed and well-designed. Price ranges from VND 65 – 100 million / sqm.
Grade B Buildings: 75% of grade A amenities, at least 7 floors high, located in the center or around, the floor area from 500 to 1,000 sqm, the price from VND 32 – 65 million / sqm.
Grade C Buildings: Grade A and Grade B buildings, but a minimum of 50% Grade B accommodations and a minimum floor area of 150 sqm. The price is VND 32 million / sqm.
Primary Market: A market for transactions between an investor and an investor or an end user
Secondary Market: Secondary market, without the participation of the investor.
Apartment area: In Vietnam, there are usually two ways of calculating the area of apartments:
(1) Carpet area, similar to the area of navigation.
(2) Built-up area, which is similar to the wall, is 10% higher than the floor area.
Gross planning area: The total land area of the project
Net density is the percentage of land area occupied by construction works on the total area of the project planning, excluding the land area occupied by common utility works such as: Swimming pools, outdoor sports grounds, tennis courts and a built-up sports field.
Gross Floor Area (GFA): All areas are contained within the walls of each floor, outside and the thickness of the walls.
Roofing – Topping out: Construction state when the last piece of the superstructure is placed in the correct position and has finished the rough (cast concrete).
Under planning: The stages of the breakdown of the project such as ground clearance, compensation, or get development consultants.
Under construction: The status of the project from start to finish and take off, not including delays.
You are reading the article “The Term Basic Land Transaction” in the section “Real Estate Law” on the website: https://realestatevietnam.com.vn/.
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