Property revival
Property revival
With the property market showing signs of stirring to life, developers in HCM City are planning to put apartments for sale this year.
Phu My Hung Corporation said it would put offer its Green Valley project for sale in the first quarter. It comprises four blocks of 20-27 floors with 546 units measuring 88-194sq.m.
Also in District 7, The Park Residence on Nguyen Huu Tho Street has hit the market with around 1,000 apartments of 52-73 square metres each at a price of VND700 million ($33,175) per unit.
The developer has begun to accept bookings and construction is scheduled to be finished in 2016.
In District 6, Him Lam Land Company is set to sell around 1,400 apartments in its Him Lam - Cho Lon project, which is almost finished.
A clutch of other apartment projects have also hit the market — Lexington Residence in District 2 at around VND20.6 million per square metre, PARCSpring also in District 2 at VND17.4 million, Sunview Town in Thu Duc District at VND11.2 million, and An Phu 2 in District 8 at VND16.8 million.
According to Cushman & Wakefield, apartment sales were up last quarter, mainly in the budget segment and with prices of around VND15 million per square metre.
The property consultancy said prices would possibly continue to fall this year.
Developers said they would build apartments only on sites they already own and would no longer spread their investments too thin unlike in the past.
Statistics from the city Department of Construction show that around 5,000 out of the apartment inventory of nearly 14,500 units found buyers last year.
According to market observers, the market will continue to favour buyers this year, with finished projects being be more attractive to customers than those under construction.
vietnamnews
