3 elements driving a new growth cycle
After a period of purification, from the beginning of 2024 until now, the real estate market has received many exciting signals. According to experts, 3 factors have emerged to promote the market to enter a new growth cycle. Specifically, lending interest rates have continuously decreased since the beginning of 2023 and are currently maintained at 9-11%, reducing financial pressure as well as strengthening the psychology of home buyers.
Credit has also improved in recent months, especially the demand for loans for real estate investment. Statistics from the State Bank show that real estate credit as of the end of May reached 2.41% - a significant improvement compared to the beginning of 2024.
Three laws related to real estate have just been passed, effective from August 1, and will help clear legal bottlenecks, improve supply, and create conditions for the market to develop healthily and sustainably in the coming time.
According to experts' predictions, the reversal will take place around the fourth quarter of 2024. Each segment will have a different policy absorption rate, in which apartments will be the segment that benefits early. Projects that meet real needs, have prices from 40 - 55 million VND/m2, ensure construction progress, convenient connection to the city center... will become outstanding bright spots.
Looking back at the developments in the apartment market over the past 5 years, the definition of apartment segments has changed significantly. If previously, projects of around 40 million/m2 were approaching mid- to high-end, now, this price level is almost impossible to find in the primary market of Ho Chi Minh City. Projects above and below 50 million/m2 are also gradually becoming scarce. When the laws related to real estate take effect from August 1, costs related to land and project development will increase, leading to an increase in real estate prices.
Projects with reasonable prices and guaranteed progress will be the bright spots of the market in the second half of the year (Photo: Nam Long).
Quality supply towards real demand
Located on Vo Van Kiet Avenue, only about 20 minutes from District 1 center, Akari City is one of the few projects in Ho Chi Minh City being introduced with prices starting from 45 million VND/m2 - a quite competitive price in the context of the price level of primary apartments in Ho Chi Minh City, some places have reached the threshold of 63 million VND/m2, according to CBRE Vietnam.
Akari City apartments phase 2 are being introduced with prices starting from 45 million/m2 (Photo: Nam Long).
Not only does it add to the apartment fund to serve real housing needs, the project also motivates buyers thanks to the accompanying policy from the investor. Home buyers need to pay 30%, divided into several installments until receiving the house, of which the first installment is 460 million and sign a contract to buy an 80m2 apartment. The bank lends 70% of the apartment value, customers do not pay interest for 18 months and do not pay principal for 24 months.
Akari City marks the 5th cooperation between Nam Long and 2 partners with over 100 years of experience from Japan: Hankyu Hanshin Properties and Nishi Nippon Railroad. The prestige of leading Vietnamese - Japanese investors is also one of the guarantees for the commitments on progress, quality, and living space at Akari City.
The project covers an area of 8.5 hectares, of which phase 1 has welcomed nearly 2,000 families. The investor has also handed over the pink books to residents.
Akari City with a scale of 8.5 hectares is located on Vo Van Kiet Avenue (Photo: Nam Long).
Akari City phase 2 with 4 towers AK7,8,9 and NEO is following the overall progress, completing internal and internal utility items for handover from the end of this year, welcoming residents to settle down.
At the center of the entire project, the commercial avenue axis continuously welcomes brands from convenience stores, supermarkets, coffee shops, pharmacies, offices... quickly meeting the daily needs of the community of residents and neighboring people. The 2,500m2 Light Square - a highlight of Akari City is gradually being completed and will be put into operation in the near future, adding entertainment coordinates, connecting the community, the pace of life here promises to be more bustling, increasing the value of both residence and investment.
Source: https://dantri.com.vn/bat-dong-san/khung-phap-ly-va-lai-suat-vay-mua-nha-hai-yeu-to-dan-dat-thi-truong-bat-dong-san-20240731121709636.htm
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