Phu My Hung projects defy market slump
Phu My Hung projects defy market slump
Since early 2013, the diverse high-end properties of Phu My Hung Corporation such as Riverpark Residence and Riverside Residence in Ho Chi Minh City have attracted sharply increasing interest from foreigners living in Vietnam and corporate customers in the market for a long-term lease or purchase, according to a company source.
The high-end Riverpark and Riverside compounds are especially appealing to foreigners seeking to move in immediately. Meanwhile, the Happy Valley project, also located in the District 7 township, offered for sale in the year’s first quarter, has captured the attention of corporate clients seeking residences for representatives and experts who will work for them in the coming months.
The meticulously cared-for living space and quality are prime factors that make Phu My Hung’s residential quarters particularly appealing to the customers from different nations. The customers mostly come from the UK, the US, France, Japan, the Republic of Korea and India. Another group of residents is Vietnamese from the city’s different districts.
Phu My Hung properties are currently home to over 25,000 residents, of whom the foreigners account for 48 per cent, or around 12,000.
Associated facilities like schools, food shops and other life conveniences have brought conveniences to resident communities.
Foreign customers like Phu My Hung residences because, instead of leasing and paying rental every month, with one-off payment they could become real owners and the residence features great added-value in term of space.
Foreign-invested companies are finding buying Phu My Hung condos for their experts as a worthy cost-saving method since instead of spending round sums on rental expenses they could accumulate rentals into the payment for the purchased condo.
If foreigners and foreign experts residing and working in Vietnam are unable to buy a house in Vietnam, the company offers a long-term leasing scheme extending to 2043. Besides, during leasing contracts, if the individual or corporate customers become eligible to buy houses in Vietnam and want to convert from leasing into purchasing they will be assisted with settling conversion procedures. Phu My Hung condos are also easily transferable thanks to their high liquidity and comfortable leasing terms.
After Happy Valley’s first-round successful launch with sales rate reaching approximately 86 per cent, the company envisages a May 25 roll-out of another 165 condos in the second phase, most of the condos will be at blocks G and H with beautiful view.
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