The unusual in the HCMC real estate market

The real estate market in Ho Chi Minh City is receiving two opposite waves.

Besides the projects, not only sell the apartment but also sell all the projects. Although not started construction or loss a mountain money is no buyers. There are projects that many small investors are paying tens of billions to buy. According to the type of investment, they have dozens of apartments in the project has not yet started. Had there been a change in trend or just a customer segment? The question is a lot of investors. Let’s take a look at the real estate market in HCMC last time through the article.

Some apartments have not even started but have been ordered by dozens of apartments in Ho Chi Minh City

The project just waiting for death .

A brokerage firm in Ho Chi Minh City on behalf of investors to sell a project apartment in Binh Tan District. Having land area of ​​about 6,000 sqm, has paid the land, construction license has been signed, has forced pile foundation, … The apartment is located in Ma Lo traffic is very convenient. Investors have invested over VND130 billion from 4 years. But recently sold the project price of VND70 billion, then lowered the price to VND60 billion. At this time the storks are talking about each other: Maybe now is about VND40 billion.

This is just an example of a project that sells the project without the buyer. If you go deep into the market, there are many projects that nobody believes. Nguyen Tat, a prominent brokerage in Thu Duc district, said: “If you have a few tens of billions you can own a new apartment or urban project. It’s up to hundreds, even thousands. Of course, the debtor will be debited with the corresponding debt.

Green Building project – District 9

It is not just the project owners who want to sell their projects. Many secondary real estate investors are also looking to sell at all costs. Not just one apartment but the entire floor, several floors of existing condominium projects. Prices are of course not imagined. These investors are willing to lose 50% even losses up to 60%, as long as they sell these “boils”.

At the project Green Building – District 9, 7 years ago. Its selling price is over $ 1,200 / m2. But today, the price of this project on the classified sites and brokerage offices is only $ 500 /sqm, equally VND 11-12 million / sqm. Prices dropped by 60% but not even customers.

Not only the midrange segment is happening. Some high-end projects are equally good. Investors are willing to lose the sale price reduction. Investors also lower prices, even lower prices. The project of Petro Landmark Apartment Building (District 2) invested by PVC Land Company is a typical example of falling prices. Its price is now lower than social projects.

Not only low-end apartments are falling, but the high-end segment is equally pathetic

While there are many projects lying dead, no one buys. Then another corner of the real estate market in HCMC is vibrant. Many projects, apartments sold not enough customer demand, almost the apartment was booked out before the sale.

 There are projects that do not supply enough for the bridge.

 In early October, Savills and CBRE simultaneously announced the third quarter market survey. According to these reports, the previously established market record has been broken. Savills reported that in the third quarter, the real estate market in Ho Chi Minh City recorded 3,280 apartments sold, up 85% over the same period.

This is the highest number of sold units since the record set from the fourth quarter of 2010. According to Savills, in the last quarter there were 10 new projects and new phases of four completed projects being offered. With over 4,600 apartments launched to the market, an increase of 103% over the same period.

According to a report released from CBRE, in the third quarter, the real estate market in Ho Chi Minh City has 3,104 apartments sold, up 95.8% over the same period.

The most prominent example of this boom is the project of Phu My Hung Scenic Valley Apartments. Recently, the investor has opened the first stage and sold 251 units (100%). After a month open sale phase 2, has just sold the “fire” with 109 apartments.

Scenic Valley apartment of Phu My Hung. The apartments are very popular with customers and very fast

Recently, many real estate projects in the district located at the gateway city are highly rated customers and investors and poured much investment. Binh Tan District with projects named Fire Town, Vinh Loc urban area, Green Park project, … Customers are not easy to buy apartments in these projects, despite the strong financial resources.

Other real estate projects in District 9 are also of great interest. Especially, the ground projects are supplying enough to meet demand. For example, Hoang Anh Minh Tuan land project, total area of ​​81.988sqm. With 201 townhouses and 72 villas, only 100% of the townhouse has been sold in the first sale.

You are reading the article The unusual in the HCMC real estate market in the Real Estate category at https://realestatevietnam.com.vn/.Any information sharing, feedback please email to contact.vietnamrealestate@gmail.com, Hotline (+84) 898 898 688 (24/7).
Special thanks!