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Buyers seek apartments under a billion   2009-12-14 - DTCK

Vietnamese people seeking to purchase homes during the Tet sale season, prefer those worth less than one billion dong due to economic woes suffered in 2009.


Hung Tri, a banking officer, disclosed said that he is trying to purchase a house before Tet in February 2010. The requirements Tri has set up for his future home are simple: it must be small (50-60 square meters), worth less than one billion dong and not too far from the city center.


According to Thien Nhan, an An Nam real estate broker, many buyers now have similar requirements.


Nhan said that apartments price at 10-16 million dong per square meter are being hunted down by clients. Real estate experts believe that it is now an age of cheap apartments and they predict that prices may increase slightly by 5-10 percent in the future due to the high demand.


Real estate trading floors in HCM City noted that projects caughting the eye of prospective buyers are Tan Mai in Binh Tan District, E.Home in District 9, Phu Loi and Carina in District 8, Hoang Anh 2 in District 7, The Mansion in Binh Chanh District and Le Thanh in Binh Tan District.


Common characteristic of the projects are the low prices of 12-17 million dong per square meter.


On the ACB Real Estate trading floor, two real estate projects with “soft prices” have been put on sale, An Phu apartments in District 6 and the second phase of Le Thanh project in Binh Tan District. Le Thanh’s apartments are priced at 480 million dong, affordable for many people.


Having realized the high demand for cheap houses, investors have begun to fund low- and medium cost apartment projects.


Construction of 584 Lilama SHB apartment bloc and Saigon Lilama SHB Town have both been kicked off. The former is expected to become operational in August 2011, while the latter is expected to have 340 apartments with areas of 55-82 square meters once operational.


According to Lilama SHB General Director Le Tan Hoa, Saigon Lilama SHB Town is the apartment bloc for medium and above medium income earners and is expected to sell at 12 million dong per square meter.


Anh Tuan Housing and Construction Company stated that it also plans to initiate some low cost house projects in HCM City and other provinces. Of these projects, one in Nha Be District will kick off later this year. These 520 apartments with areas of 70-95 square meters are expected to sell at 12-13 million dong per square meter.

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