For example, the investor of the Flora Panorama project (Binh Chanh district) has just announced the handover of 300 apartments, adding to the supply of apartments in this area. It is known that the investor of this project has also handed over nearly 1,000 apartments in the area since the beginning of 2023. Currently on the market, apartments here are being offered for sale at a price of about 45 million VND/m2, nearly 3 billion for a 2-bedroom apartment.
In District 12, the Picity High Park apartment project is also entering the handover phase of the next block of the building. Currently, many people have received the handover and moved in to this building, the project will continue to be handed over in other blocks at the end of the year. With a price of about 35 million, this is a mid-range project that many people are interested in.
Or in an area closer to the center, the Phu Dong Sky Garden project on Pham Van Dong Avenue also topped out at the end of April 2023, and is entering the completion stage for handover in 2024. This is an apartment project with a selling price of 38-40 million VND/unit, with nearly 700 apartments.
The mid-range apartment segment with strong demand is expected to lead the market in the coming time.
With many projects being handed over or topped out in recent times, the real estate market is currently in a vibrant atmosphere. Many opinions say that with the appearance of available apartments, buyers are more confident in spending money, especially buyers with real housing needs.
Most of the projects handed over and topped out on schedule belong to financially strong investors. The subdivisions and projects handed over in the past time are also located in urban areas with many advantages and favorable factors in terms of infrastructure and convenient transportation. The remaining apartments of this project are expected to be traded in the market soon, creating liquidity and driving force for the real estate market to recover.
To do that, it is noted that in addition to completing and putting the project into operation soon, many investors are still maintaining preferential policies to attract buyers in the context of a difficult market. The most important of which are still fast payment policies with attractive discounts, long-term interest rate support, accompanying gifts...
In recent times, many people are still interested in mid-range apartments. But they mainly focus on some projects with good construction progress, commitment to deadlines and reputation in the market. This is the segment that many people who want to buy for real estate as well as buy for investment in the medium and long term choose. For that reason, the supply of this segment in the market is also quite limited, some projects selling houses in the future are difficult to choose due to negative factors of the market in recent times.
Apartments in areas far from the center such as Binh Chanh, District 12, District 9 still recorded transactions in the past time.
Comments from some trading floors show that the market is now almost no longer thinking about buying real estate for short-term trading. Although interest rates have dropped significantly, bank loans are no longer as easy as before, causing cases of investors buying and reselling on the same day to gradually disappear from the market.
According to a recent report by Savills Vietnam, in the Ho Chi Minh City market alone, the supply of mid-range apartments from now until the end of 2023 will reach about 9,000 products. This is a positive change for market demand because in the previous period, high-end and luxury segments flooded the market while demand for purchase and use was non-existent.
From the middle of the second quarter of 2023 to the present, mid-range apartment transactions have improved significantly. In particular, some projects with a total value of around 3 billion VND/apartment have been introduced recently, attracting many interested customers. Many projects located in suburban areas have also recorded transactions reappearing, bringing significant sales to investors. Most of these are projects with existing products, affordable for buyers.
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