Hanoi real estate firms race to sell houses at soft prices
In the bleak market context, the high-end projects have to constantly cool down and Hanoi-based real estate firms’ mass launch of products at soft price is considered a move to warm up the market in the remaining months of this year.
By the middle of November, Nam Do Complex project (Truong Dinh) was offered to the market at the price of 22 million dong per square metre. Thus, each apartment will have price ranging between 1.7 billion dong and two billion dong for areas of 75.5 sqm, 76 sqm and 85 sqm.
Dream Town project (Tay Mo-Tu Liem) has recently been offered for commerce priced at 17.8 million dong per sqm for apartments. In case of payment before November 10, customers will enjoy a preferential price of 2 percent.
Sails Tower project (Ha Dong) has recently been offered at the price of around 1.4 billion dong per apartment with eight phase of payment in two years. The house buyers of this project after paying 65 percent of the house value will receive support from Lien Viet Post Bank with preferential interest rate by using their apartment as collateral.
Tan Viet apartment project also continued to offer for sale at the price of around 15 million dong per sqm. Skyview project (Tran Thai Tong, Cau Giay district) was also announced to sell at estimated price of 2-3 billion dong depending on each area.
Not only apartments but also resort villas have also been massively introduced at the price of around two billion dong. Sunrise Villas project (Luong Son, Hoa Binh) has recently offered to sell ground and crudely-built villa at the price of 1.7-2.1 billion dong each.
By early November, eco villas at Cuc Phuong Resort & Spa were also offered at the price of over one billion dong each. 46 high-grade apartments at Swiss Bel-Hotel The Pavillons Grandville (Phan Thiet) have been recently also put up for sale in Hanoi at relatively soft prices of about two billion dong per unit.
Le Quoc Cuong, head of the group in charge of Tai Tam real estate trading floor said that house prices in particular in big cities are too high compared with income of people, as well as exceeding the real value of real estate. High-grade apartment market has gradually been falling into saturation and there has been the situation of oversupply while the demand with actual solvency remains low. Therefore, the move of selling at popular price amid bleak market is a smart way.
Category: Business
