A series of high-grade apartment projects have headlined their products after a long period of sitting on their heels.
Positive signs have been seen in the apartment market segment. Apartments ready for dwelling still have good liquidity and smaller sized dwellings are sold more easily, particularly in projects with good infrastructure and near the downtown like Dai Thanh, Kim Van, Kim Lu, CT3 Co Nhue, Victoria Van Phu and CT2 Trung Van.
Meanwhile, promotions and incentives are still appeared in luxury apartment projects, with popular value ranging from VND30 million to VND70 million a square metre for first deals. Liquidity in this segment has also been improved.
The market is seeing dozens of upscale apartment projects opened for sale. In recent days, more than 10 projects have opened for sale, with a total supply of 2,500-3,000 units.
Hoa Binh Green City is preparing for a new sale of some 300 apartments out of 500 units. The selling price starts from VND20.5 million per square metre, excluding interiors, and the interior-inclusive price is VND26-29 million per square metre, exclusive of VAT.
CBRE Vietnam announced to start selling apartments of Mulberry Lane project in Mo Lao, Ha Dong district on November 30. With five buildings of 27-35 storeys each and 1,478 apartments, this project, invested by Capital Land and Hoang Thanh Company, is now being completed. The offer price is VND25-27 million per square metre.
Some small-scale projects have also been actively launched onto the market. On November 23, Tay Ho Residence project, located in Xuan La Ward, Tay Ho District also officially opened sale of CT2B Building. The selling of this near-completed project is from VND24.8 million per square metre, excluding VAT. Property exchange, Nhadat24h, was recently authorised to sell apartments at CTM 139 Cau Giay project by its investor, with prices starting from VND26-28 million per square metre. An apartment has an area from 82 square metres to 130 square metres.
Discovery Complex, situated at 302 Cau Giay Street, has recently been launched onto the market by G5 Real Estate Exchange Coalition. The selling price starts from VND27 million per square metre, excluding VAT and interiors. Each buyer is discounted from VND20-80 million per unit, depending on the area. This project has a total supply of about 500 apartment units.
Some other luxury condominium projects are being offered to meet the demand at the year's end. Golden Land, situated at 275 Nguyen Trai Street, is marketing approximately 100 units of C Building or Thang Long Number One, located at No. 1 Thang Long Avenue, expects to sell 50 units through the end of the year at a price from VND28 million per square metre. Buyers of 30 first units are given an incentive of VND30-70 million. To date, half of the offer has been purchased.
Newly built projects are also being sped up, particularly foundation works, to be launched onto the market. These projects will be the main source of supply for the market later this year and early next year. In particular, the only downtown project, D'. Le Pont D'or - Hoang Cau, invested by Tan Hoang Minh Company, has about 300 apartment units for sale at an expected price of VND35 million per square metre, exclusive of VAT. Golden West, positioned at No. 2 Le Van Thiem Street, Thanh Xuan District, opened the first offer with 120 apartments out of 600 units in total. So far, nearly 100 customers have placed orders via its distribution agents.
These developments signalled that high-end apartment segment has been heated up to catch the year's end cash flows - the so-called prime time of the real estate market in the year.
Vietnamese
