2013 has started off with several solutions proposed by ministries and agencies to deal with the difficulties of the Vietnam real estate market. These solutions are expected to activate the market.
Typically, interest rate and tax reduction has been proposed, together with prospect of a new cash flow of VND20 – 40 trillion with a reasonable interest rate through refinancing, expected to be pumped into real estate, which gradually comes true with Resolution 02 approved by the government on January 1st 2013.
Money from overseas Vietnamese promotes real estate transaction increase at the beginning of year. In 2012 alone, remittances reached a record of US$10 billion. Statistics from State Committee for Overseas Vietnamese Affair shows that a few dozen percent of this US$10 billion will be directly or indirectly invested in real estate. This year, it is estimated that more than 500,000 overseas Vietnamese enjoyed Tet holiday in Vietnam. They have searched information and made decision to purchase properties after Tet vacation.
On the other hand, many real estate purchasers hope that housing price will decrease after Tet. Imaginary price of housing has recently increased, making purchasers wait, carefully ponder and choose moment when the price is considered to be the cheapest to make final decisions. Moreover, purchasing in the early year provides the customers with chances to receive a great amount of ‘lucky money’ from investors in order to proper and succeed, therefore, trading activities widely spread than ever
In the middle of the last January, Sails Tower project (Kien Hung, Ha Dong, Hanoi) was also on sale. Customers buying apartments get loans of 70 percent price with interest rate of 9.9 percent each year from banks. Those who buy more 70 m2 apartments will be offered a Honda Vision, VND30 million.
On February, 15th (6th Tet day) Dai Thanh building caused an instant fever on the market after launching 50 apartments with the price as low as VND10 million per sq. metre. Each apartment with 40 – 60 sq. metres in area is around VND400 – 600 million.
To rouse the market and create opportunities for the people who have real housing needs as early of the year, in coming time the Real Estate Supermarket will open the sales campaign Thang Long Garden project located at 250 Minh Khai, Hanoi, with preferential policies. In addition to low prices, customers buying an apartment will be offered 3 tael SJC gold on the occasion of the new year.
Thang Long Garden attracts customers who want to own an apartment in a favourable location. This project contains features like strategic traffic, dense residential area, stable facilities and many residential and commercial projects will be launched in near future. In particular, Minh Khai - Dai La road has been widened to 60m, making the circulation from Minh Khai street to its neighbourhood more conveniently than before. On the other hand, it is believed by customers due to clear legality, guaranteed rate of progress and quality of product.
At present, the 2nd floor is building. The construction of 4 floors per month is committed by investor and the time for handing properties over is in December 2013.
The building density is 35 percent with full modern facilities including 3 buildings which have commercial and office centre block and apartment building. The system between 2 apartment buildings consists of kindergarten, gymnasium, consulting room, bank and supermarket to meet resident’s essential demands.
This project with its apartments from 65 to 132 sq. metres in area opens on sale for all customers like single or small family. Payment period is divided into 6 phases with 25 percent of contract value for 1st phase.
Thang Long Garden is distributed exclusively by the Real Estate Super Market with the price of VND 1.4 billion per apartment. Moreover, Global Petro Bank will support fund up to 70 percent for customers buying apartments in the 15 year project.
P.V
Vietnamese
