The latest report on the HCMC and its vicinity’s residential real estate market for August by DKRA revealed a slight increase of 1% in primary supply compared to the previous month. The majority of the projects are located in HCMC and Binh Duong, accounting for 58% and 37% of the total primary supply in the market, respectively.
Primary consumption rose by 36% from the previous month, reaching nearly 800 units. Of these, 54% came from projects currently under development in Binh Duong.
There hasn’t been a significant change in primary and secondary selling prices. Transactions are focused on mid-range projects priced at VND 45-60 million/sqm in HCMC and VND 30-35 million/sqm in Binh Duong, with complete legal documentation and rapid construction progress.
The disappearance of apartments priced below VND 2 billion in HCMC over the years has made it difficult for the majority of urban residents to own homes as the gap between housing prices and income continues to widen. As a result, there is a trend of population dispersal to surrounding satellite cities such as Long An, Dong Nai, Binh Duong, and Ba Ria – Vung Tau. According to Batdongsan.com, in the southern real estate market, Binh Duong province stands out with its stable growth in interest and selling prices. Di An and Thuan An are two developing areas that attract HCMC’s population overflow due to urban pressure, making the province the second-highest in immigration rate in the south.
Binh Duong – The New Destination for Affordable Housing. Picture: AVIO Township project by Japanese joint venture officially announced in September 2024.
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Having gone through various market upheavals and the COVID-19 pandemic, real estate buyers have changed significantly, especially those with modest budgets. A survey by DXS-FERI showed that 63% of buying decisions are influenced by financial considerations, followed by legal aspects, investor credibility, location, construction progress, and product amenities.
Facing the selectiveness of buyers, developers are now changing their approach to customers by drawing on their accumulated experience in diverse markets.
With 50 years of global development experience, Cosmos Initia, a real estate investor from the Land of the Rising Sun, has extensive knowledge in creating high-quality, mid-range apartments in Japan, Australia, and the United States. Through the TT AVIO project, in collaboration with TTCapital and Koterasu, Cosmos Initia showcases the meticulous criteria that led to their investment decision.
Strategically located on DT743C Street, Tan Dong Hiep Ward, Di An City, Binh Duong Province, TT AVIO is situated within an existing residential area. The project is right next to Thu Duc City, providing easy connectivity to other parts of HCMC.
TT AVIO introduces 2,000 products to the market, priced from VND 1.23 billion per unit, reviving a segment that has been missing for many years.
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With nearly 2,000 apartments, most of which have an area of less than 60 sqm, 80% of the inventory will be priced below VND 2 billion, a segment that HCMC has been lacking for years. Additionally, the exclusive “payment negotiation” privilege, a first in the market, allows buyers to pay according to their financial capabilities. This addresses, to some extent, the financial challenges faced by prospective homeowners.
Each apartment has a small to medium-sized space that is optimized to provide all necessary functions within a reasonable budget. With 50 years of experience, Cosmos Initia has mastered the art of defining and overseeing critical project aspects to ensure the final product meets buyers’ expectations for quality and comfort. All apartments have balconies and yards, with a golden ratio of 50% 1-bedroom units, 47% 2-bedroom units, and 3% 3-bedroom units.
“At TT AVIO, we don’t focus on showcasing Japanese design styles. Instead, we opt for a modern approach that aligns with the needs and aesthetics of Vietnamese customers. What matters most is that all amenities, facilities, and operational processes are developed according to premium standards,” said the representative of Cosmos Initia.
Despite this being their first project in Vietnam, Cosmos Initia is committed to customer satisfaction and the successful delivery of TT AVIO. This project lays a solid foundation for their future endeavors in the country.
Cosmos Initia emphasizes the importance of carefully considering legal factors and adapting procedures to the local context. This not only helps maintain project quality but also facilitates sustainable development.
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