Advertised at a starting price of VND 33.3 million per square meter, The A. project in Tan Dong Hiep Ward, Ho Chi Minh City, is becoming a preferred choice for multi-generational urban residents and savvy investors. However, after several sales phases, the project’s sales velocity has been sluggish. According to some buyers, despite its prime location on the TOD development axis adjacent to the S12 metro station of Line 1, The A. has garnered limited attention due to its developer being a relatively unknown entity in the market.
The real estate market is currently evolving at an unprecedented pace, from developers’ launch speeds to booking rates and sales openings.
Similarly, the L.P project, located on the frontage of National Highway 13 in Lai Thieu Ward, Ho Chi Minh City, has seen minimal unit sales despite four sales phases. Initially launched in 2022 as A.T.C, the project faced stagnation and customer complaints after its first phase, leading to refund demands. Rebranded in early 2025 with a new legal entity, the project’s performance remains lackluster.
Numerous projects in former Binh Duong, Dong Nai, and Long An provinces have faced similar challenges, struggling to sell units despite competitive pricing and prime locations.
In an interview with Tien Phong, Mr. Phan Dinh Phuc, CEO of Seenee—a firm specializing in real estate project and product evaluations—stated, “Most sales disruptions stem from project leadership. Key issues include misreading market dynamics, underestimating competitors, overlooking concurrent projects, and failing to anticipate market volatility.”
For instance, the launch of Vinhomes Can Gio forced many projects to halt or slow sales, postponing plans indefinitely—an unforeseen challenge.
Secondly, disruptions occur when competing projects offer better pricing or policies, while weaker branding or marketing strategies fail to resonate. Thirdly, ineffective marketing campaigns lack distinct keywords or impact. Fourthly, inadequate sales strategies, uncompetitive incentives, or unattractive commissions hinder progress. Lastly, misaligned project positioning fails to meet market demands.
“The real estate sector is witnessing rapid evolution—from developers’ launch speeds to booking rates and sales openings. It’s a fierce product and customer acquisition race,” noted Mr. Phuc.
Previously, sales agents focused solely on lead generation, but now product quality determines success. The greatest pressure on agents is lacking viable products for clients, especially after investing heavily in a project that fails to sell.
Developers face intense competition, with rivals constantly introducing new policies or pricing strategies. While beneficial for buyers, this creates revenue pressure for developers.
Sales agents prioritize projects with robust marketing, swift commission payouts, attractive incentives, ample inventory, flexible payment terms, clear legal frameworks, and reputable developers.
From a professional standpoint, most sales disruptions stem from project leadership.
Mr. Phuc explained that agents avoid projects deemed unsellable due to market resistance to pricing, insufficient marketing efforts, unattractive sales policies, unfavorable payment terms, legal issues, or a developer’s poor track record.
“Developers often advertise teaser prices excluding VAT or showcase the least desirable units—those with obstructions like utility poles or drainage systems—to create marketing buzz,” he added.
Low initial pricing followed by steep increases also fuels fake booking schemes. Developers raise prices upon seeing high booking volumes, exploiting the safety net of continuous buyer interest.
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