Product line that defines the game in the real estate market

The market restarts on a new legal "track"

The 2024 Land Law, the 2023 Housing Law, and the 2023 Real Estate Business Law – three key laws of the real estate market – have officially taken effect since August 1, 5 months earlier than the previously decided date.

Experts say that the new legal corridor is a great support, creating a "railway" to shape the market to restart and operate again in a more transparent, healthy and sustainable manner after a period of stagnation.

On the other hand, a long period of lack of supply while real demand for real estate is always present makes regulations that directly affect supply closely monitored by investors.

Most notably, the regulation on tightening the subdivision and sale of land plots in the 2023 Law on Real Estate Business. Accordingly, for projects with land in urban areas of type III or higher and subject to land use rights auctions for investment in housing construction projects under the provisions of the Land Law, investors will not be allowed to subdivide and sell land plots but must build houses in accordance with the planning before being allowed to transfer. In the short term, this will cause the supply of urban real estate in cities to stagnate, as investors need more time to complete documents according to the new legal framework, and even have to prepare larger resources to invest in projects.

In addition, according to the 2024 Land Law, land valuation based on market principles requires businesses to have strong finances to ensure the speed of project implementation. However, this regulation will cause real estate prices to increase in some localities, land clearance compensation costs will increase, investment costs will increase, leading to an increase in finished real estate prices, due to the transfer of costs into the cost price. Thus, projects that have been allocated land and completed financial obligations before August 1 are at an advantage when owning better price levels, which can even be the basis for pricing future development projects.

Investors seek “Right Property” products in the new market context

According to observations, after many ups and downs of the real estate market, investors are now gradually becoming more strict in choosing products to invest in. Experts say that a standard product (Right Property): legal, potential, taste, aiming at safety - efficiency - sustainability will be the criteria for investors to decide to "put money down".

The first is legal products that have red books, auction products, and are eligible for business. The second is potential products that have good prices, in locations/localities with good economic growth, with future planning for infrastructure and roads. The third is suitable for tastes, real estate that is well-planned, has full amenities, and is aesthetically pleasing.

Right property product indication in Thai Binh city

Located in the heart of the new urban area in the South of Thai Binh City, along the central Le Quy Don street, Glory Downtown is a pioneering project in developing the model of a commercial park street in the area. With a scale of 1.62 hectares, 128 shophouse products in the project are attracting the attention of investors and becoming a bright spot in the supply of the Thai Binh real estate market when possessing all the criteria of a "Right Property" product.

The first criterion is legality, Glory Downtown owns urban land that was auctioned, cleared the site neatly and delivered the land before August 1. In particular, according to the provisions of the new Real Estate Business Law, Glory Downtown's limited land fund is becoming increasingly scarce in the context of Thai Binh being a type II urban area, aiming to become a type I urban area by 2025. The project's solid legal advantage and long-term ownership not only ensure a safe asset accumulation channel but also bring unlimited exploitation potential to the owner.

Glory Downtown has all the elements of a “Right Property” product.

In the next criterion, 128 products of Glory Downtown are assessed as having “true potential” when anticipating the expansion plan of Thai Binh City center according to the planning period 2021 - 2030, vision to 2050. Modern, bustling urban infrastructure development, gradually existing planning is a clear demonstration of the potential for price increase of Glory Downtown.

In particular, the project also has clear potential for price increase when it has completed its financial obligations before August 1, which means it has a better price level than future development projects in the area.

Not only that, the products at Glory Downtown encapsulate the investor's passion when meticulously cared for from modern architecture to optimize functionality, green landscapes in every corner of the campus to a series of internal amenities such as four-season flower gardens, outdoor sports equipment systems, children's playgrounds... and a 7-storey commercial center planned within the project campus.

In particular, the appearance of cool green American palm trees and layers of poetic Northwest Bauhinia flowers has created a vivid work of art at Glory Downtown, meeting the "taste" criteria of a "Right Property" product.

All the “Right Property” elements converging at Glory Downtown Thai Binh are affirmed by the investor representative to bring safe, effective and sustainable investment opportunities to investors. That is also the reason why the project receives special attention from investors in the context of the real estate wave pouring into Thai Binh thanks to the attraction of FDI investment and the potentials that are gradually being proven here.

Source: https://www.congluan.vn/right-property-dong-san-pham-dinh-nghia-cuoc-choi-tren-thi-truong-bat-dong-san-post307903.html