Vietnam property firms race to offer products by year-end

They are offering a variety of high- and mid-rise flats, as well as a plethora of promotional programs and discounts for Vietnamese homebuyers.

CapitaLand, the Singaporean real estate conglomerate, unveiled its Lumi Hanoi apartment complex project on Monday night, with a total investment of more than one billion Singapore dollars ($739 million).

The project, which is slated to begin construction in the first quarter of 2024, would encompass 5.6 hectares of land in Hanoi and give 4,000 flats to the market.

Property developer Khang Dien in Ho Chi Minh City has announced that it has been granted permission to sell approximately 1,040 houses at the The Privia housing project in Binh Tan District.

Homebuyers might take advantage of incentives provided by the company.

Phu My Hung, another real estate developer, stated that only 66 of the 166 apartments in its Phu My Hung The Horizon project in the city's south are for sale.

Many houses are being sold in Ho Chi Minh City's eastern district.

According to a spokesperson of Nam Long Group, the company is planning to sell 500 EHome Southgate apartments in Long An Province and 1,600 units in Can Tho City in the Mekong Delta region in the fourth quarter of the year.

The company has already struck agreements with 20 important retailers to pursue a three-year strategy to debut over 16,000 flats.

Aside from increasing the supply of housing units in the Vietnamese market for the remainder of the year, real estate companies are encouraging consumption through various discounts and preferential programs.

Son from Nam Long stated that the business had collaborated with its partners to offer buyers financial options and favorable interior packages.

Meanwhile, Masterise Homes is implementing a preferential program that lets buyers to pay only 20% of an apartment's value up front, with the remainder financed by banks at 0% interest until April 2025.

According to a firm spokesman, buyers who purchase one unit at the Phu My Hung The Horizon project would be able to obtain discounted loans from major banks.

According to a representative from a property firm in Ho Chi Minh City, real estate companies are hurrying to debut their products due to pressure on profitability by year's end, combined with dropping financing rates.

According to DKRA Vietnam, luxury apartments account for the majority of housing supply in Ho Chi Minh City, while mid-range and low-cost homes predominate in some of the southern metropolis's neighbors.

Source: Tuoi Tre News