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Real estate transaction volume soars at the end of April

08/05/2017
After quiet time, liquidity of the apartment market has rebounded at the end of this month.
After quiet time, liquidity of the apartment market has rebounded at the end of this month. 
 
 

At a sales phase on April 22, developer Phu My Hung launched the last 321 apartments in Saigon South Residences, which is the only one mid-class housing project of the firm. After only  3 hours, 300 apartments have been sold successfully. Thus, after 5 sales phases, nearly 1,800 apartments of this project have found their new owners. According to a representative of Phu My Hung, the firm’s flexible sales policies have helped the project better reach customers with real demand.

Real estate transaction volume soars at the end of April
Affordable and mid-end apartment segments have been well received by the market.
(Photo: Phuong Uyen)

Also on April 22, Him Lam Land officially launched the second sales phase of Him Lam An Phu project. It took the developer only 2 hours to sell 236/238 apartments in Block D, with selling price from 1.65 to 1.85 billion VND per unit, resulting in a successful transaction rate of 99.2%. After 3 sales phase, 3 blocks A, C and D have been sold out. The project currently has only 308 units in Block B. Him Lam Land said in order to meet huge demand of customers, the final sales phase may be organized sooner than expected.

Many mid-class projects which have not been officially launched for sale have already received higher pre-order volume than expected. 

For example, at the opening ceremony of PHPReal's The Western Capital project (District 6) on April 23, more than 1,000 visitors came and paid deposit for 800 apartments. This is a very impressive number for projects in the mid-end segment and creates a rare precedent for properties in West HCMC.

Ms Vo Thi Diu Hien - CEO of PHPReal said the mid-end apartment market still has great appeal to both investors and buyers with real demand. Despite facing many challenges of increasing supply, tight credit and scandals in construction process, affordable housing segment is still well-received by the market because it fits well with buyers’ need and budget. 

However, the fierce competition of housing segment for young people has just started and may be more fierce in the future. There will be no room for low-cost and low-quality apartments. Victory is for soft-priced products which meet rigorous requirements of buyers.

Phuong Uyen
(Theo Tuổi trẻ Online)

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