Near-completion condos attract buyers

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Báo Đầu Tư English - 29 month(s) ago 10 readings

Near-completion condos attract buyers

Condo projects that have been completed or are entering into the final stages this year are most likely to enjoy more advantages in the race to lure buyers in the current dormant realty market.

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In fact, several projects have found buyers recently as the project owners prove to buyers their abilities to complete their projects as committed.

Apart from reasonable prices and flexible payment methods, buyers are much interested in the construction progress of realty schemes as well. In other words, they will only buy homes after seeing the projects in the process of completion by themselves.

Therefore, most real estate trading floors tend to focus on those projects close to completion. For instance, The Era Town project in HCMC’s District 7 has attracted up to over 40 realty trading floors when being put up for sale by Duc Khai Corporation early this month.

The project consists of ten blocks with more than 3,000 flats offered at about VND15 million per square meter. The developer will start handing over the condos to buyers from the last quarter this year.

Nguyen Thi Thanh Huong, director of Hung Gia Viet Real Estate Services Co., asserted those projects that are finished or near completion have still caught attention of clients, especially those in need of housing.

According to Huong, her company has succeeded in launching the sale of an apartment building in District 8 beyond expectation at VND1 billion a unit within one week only.

Savimex Corporation and EVN Land in cooperation with a number of property trading floors have offered for sale the Ngoc Lan project in District 7.

The condos are priced from VND14.9 million a square meter based on the 55% deposit while the remaining value is arranged for installment payment within one year. The housing products will be given to customers this month as scheduled.

According to Colliers International, the commercial apartment segment is facing challenges due to protracted economic woes and capital shortage. The local market in the year to date has witnessed a decline in selling prices of all condo segments and the trend will continue in the next quarter as predicted by the firm.

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