Attractive Inventory Deals
Mr. Truong Thanh Hung, a customer who recently purchased an inventory apartment on Xô Viết Nghệ Tĩnh Street, Bình Thạnh District, Ho Chi Minh City, shared his luck in acquiring a unit in the same project he has been residing in. According to Mr. Hung, the apartment had been retained by the developer for several years and was only recently offered for sale at a price of less than VND 40 million per square meter. He intends to renovate and move into the three-bedroom apartment while selling or renting out his current two-bedroom unit.
Many people are interested in affordable apartments. Image: Customers visiting apartments at the Conic Boulevard project launch
Similarly, the Lavida+ project, located at the intersection of Nguyễn Văn Linh and Nguyễn Hữu Thọ streets in District 7, Ho Chi Minh City, and developed by Quoc Cuong Gia Lai, has just launched the sale of over 200 inventory apartments, with transaction prices ranging from VND 48-55 million per square meter. According to the exclusive distributor, Lyn Property, this price includes special offers. The project offers a range of apartment types, from one to three bedrooms, and has been handed over with a high occupancy rate.
Mr. Ta Trung Kien, Director of News Property Real Estate Company, stated that there are currently no apartments in the surrounding area of District 7 priced below VND 60 million per square meter. Therefore, purchasing a Lavida+ apartment for personal use or rental offers a beneficial opportunity. Additionally, with bank support for up to 70% financing, buyers do not need to invest a large initial capital.
Apart from the Lavida+ project, Quoc Cuong Gia Lai is also releasing other inventory projects, such as the one on Ta Quang Buu Street in District 8, Ho Chi Minh City.
Nam Long, another prominent developer, is actively selling the remaining units at the Akari project (Vo Van Kiet Street, Binh Tan District, Ho Chi Minh City) at prices ranging from VND 45-47 million per square meter. Meanwhile, at the Conic Boulevard project in Binh Chanh District, Ho Chi Minh City, the developer, in collaboration with Viet A Bank and EximRS Real Estate Company, has announced the release of nearly 1,000 completed apartments priced at only VND 35-37 million per square meter. Viet A Bank is offering an interest-free loan for the first two years.
Growing Market Confidence
Ms. Tran Thi Cam Tu, General Director of EximRS Real Estate Company, believes that genuinely valued housing always attracts buyers, especially during the year-end period. Fully completed homes that are ready for immediate handover, coupled with bank loan support, are particularly appealing to customers.
According to experts from the Institute for Economic-Financial-Real Estate Research (Dat Xanh Services, FERI), the Vietnamese real estate market is witnessing flexible adjustments from developers. Businesses are actively restructuring, finalizing project legalities, launching new projects, and diversifying M&A activities. Notably, many projects are being restarted, and inventory sales are taking place.
In the third quarter of 2024, the country witnessed the commencement of four projects, the initiation of 22 projects, and 18 sales events. FERI indicated positive market shifts, reflected in a 39.7% increase in the number of businesses and industry personnel compared to the same period in 2023. Additionally, 3,446 new enterprises were established, a 1.4% increase year-on-year. The market has gradually shifted from a defensive to an offensive stance, with developers actively initiating new projects and selling inventory, creating more opportunities for brokers.
Mr. Luu Quang Tien, Deputy Director of FERI, noted that market confidence has improved, evident in the increased interest and transaction levels. He predicted a slight increase in the overall market absorption rate, reaching an average of 35%-40%. Low-interest rates are also expected to boost purchasing power. “As we enter the year-end bustling period, improved supply will provide customers with more options. We anticipate secondary selling prices to rise further by 10%-15%,” said Mr. Tien.
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