Under 2 billion VND, how to buy a house in the South of Ho Chi Minh City?

The South of Ho Chi Minh City includes District 7, Nha Be District and part of District 8, Binh Chanh District. This is a strongly developed area in Ho Chi Minh City, notably the Phu My Hung urban area.

In recent times, the city’s real estate prices have been constantly increasing, causing housing prices in the South of Ho Chi Minh City to also “escalate”. However, with an amount of less than 2 billion VND, people can still find suitable houses to buy.

Many apartments in the South of Ho Chi Minh City cost less than 2 billion VND. (Photo: D.V)

Ms. Le Thi Hoa, owner of a 37m2 one-bedroom apartment at the Ladida Plus project (Nguyen Van Linh Street, District 7) said she is selling this apartment for 1.8 billion VND. The apartment has just been handed over so it is still very new.

“ The real estate market is weak, so I am selling my house to recover cash flow. The price of 1.8 billion VND is also the cost price I bought it a year ago. From this apartment building, it only takes about 20 minutes to get to District 1, the traffic is very convenient, ” said Ms. Hoa.

At the Q7 Saigon Riverside project (Dao Tri Street, District 7), a 53 m2 one-bedroom apartment is being sold for VND1.98 billion. If you want to buy a larger house with more bedrooms for less than VND2 billion, you can choose old apartments in the South area.

A typical example is the Phu Gia (Orchid Park) project located on Nguyen Luong Bang Street (Phu Xuan Commune, Nha Be District). The owner is selling a 2-bedroom apartment with an area of 66 square meters for 1.65 billion VND.

Mr. Do Lam, the owner of an apartment for sale, shared that the Phu Gia project has a full pink book. The bank supports loans of up to 1.1 billion VND for those who want to buy an apartment worth 1.65 billion VND. The project also has basic amenities such as a swimming pool, gym and is close to supermarkets, schools, etc.

“ If you want to buy a larger house, there are people in the apartment complex selling a 72m2, two-bedroom apartment for 1.86 billion VND ,” said Mr. Lam.

In addition, with an amount of less than 2 billion VND, people can also access the Jamona City project located on Dao Tri Street, District 7. A 2-bedroom apartment with an area of 53 m2 here is being sold for about 1.85 billion VND. A 1-bedroom apartment with an area of 49 m2 is priced at 1.45 billion VND.

In addition, people can also choose their future home at the Hoang Quoc Viet project (Phu My ward, District 7). 2-bedroom apartments with an area of 55 m2 here are being sold for 1.9 - 2 billion VND.

Many new and old apartments under 2 billion VND in the South of Ho Chi Minh City are still for sale. (Photo: D.V)

If you do not like living in an apartment, you can choose a small townhouse for less than 2 billion VND. A typical example is Mr. Hoa's 2-storey house in alley 793 Tran Xuan Soan (Tan Hung ward, District 7) which is being advertised for 1.5 billion VND. This house has its own pink book but the area is only a little over 12 square meters.

A house located in alley 2266 Huynh Tan Phat, Nha Be district with an area of 36m2 is being sold by the owner for 1.98 billion VND. The house has a shared pink book, travel time from here to the center of Ho Chi Minh City is about 40 minutes.

If buying a single townhouse under 2 billion VND in the South of Ho Chi Minh City, people can choose a small house. (Photo: D.V) — If buying a single-family house under 2 billion VND in the South of Ho Chi Minh City, people can choose a small house. (Photo: D.V)

Real estate experts say that there are still many apartments in the South of Ho Chi Minh City under 2 billion VND. If people want to own a large apartment and live comfortably, they have to accept going further from the city center.

For the individual townhouse segment, with this amount of money, people can only buy houses with separate pink books if they accept small areas, while large houses all have shared pink books. However, if buying a house with a shared pink book, customers may face risks in the transaction.

Mr. Nguyen Tan Phong, a real estate expert in Ho Chi Minh City, warned that for co-owned real estate (shared pink book), the transaction risks are very high. When buying, selling, transferring, or mortgaging, people will have quite limited rights, including the collective that owns the real estate.

“ With co-ownership, buying and selling is very difficult, and if you are short of money, you cannot mortgage or borrow money. If one of the co-owners has legal risks, is involved in a dispute, or dies, the transaction will be very complicated,” said Mr. Phong.

According to Mr. Phong, in reality, many people still accept buying houses with shared pink books despite the risks involved because the value of these houses is suitable for their budget.

DAI VIET

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