Many real estate projects 'launch products', launch promotions to attract customers at the end of the year

Entering the year-end period, the real estate market in the South is making positive moves as many businesses simultaneously launch new projects and open for sale the remaining products with the expectation of attracting customers before Tet.

People learn about new apartments in Ho Chi Minh City introduced to the market in early November - Photo: NGOC HIEN

Real estate market has thousands of more apartments

At the end of October, the Conic Boulevard project (HCMC) with 1,000 completed apartments was launched by the company. The average price announced at the end of the year was about 37 million VND/m².

Speaking to Tuoi Tre Online on November 6, Mr. Le Tien Vu - Deputy General Director of EximRS - said that the project has recorded positive signals when there were more than 100 reservations after only 2 days of launching, contributing to reflecting positive signals from the market.

According to Mr. Vu, the end of the year is also the period when real estate floors promote sales strategies as this is the time when investors gradually stabilize their cash flow after a year of business and are ready to look for investment opportunities.

In the eastern part of Ho Chi Minh City, Masterise Homes has just launched apartments at The Global City project (Thu Duc City) with a scale of 2 towers, expected to provide about 616 apartments to the market. According to the investor, the project will be handed over in 2026 and this is also the first high-rise subdivision in this project. Currently, brokers are accepting reservations (booking) at 100 million VND/m².

On November 9, the Japanese joint venture Cosmos Inita - TT Capital - Koterasu Group will also hold a ceremony to announce the TT AVIO apartment project ( Binh Duong ) with up to 2,000 apartments. With prices starting from 1.23 billion VND/apartment, buyers can negotiate payment methods and receive low, fixed interest rates from the company for many years.

A representative of CapitaLand Development (a real estate developer from Singapore) said that the Orchard Hill project (Binh Duong) was introduced to the market on October 26, but 90% of the apartments, equivalent to 694/774 units, have been reserved.

Meanwhile, Nam Long Investment Corporation said that in the last quarter of the year, it will deploy the last apartment fund of Akari City phase 2, priced from 45 million/m². In Long An , the company continues to deploy villa products in the separate villa areas of The Aqua and Park Village.

For the Can Tho market, Nam Long Real Estate will also launch 274 land plots and ready-built commercial townhouses in the Nam Long II Central Lake urban area.

Launch many promotional policies, flexible payment

To attract customers, real estate businesses have launched many preferential policies that benefit home buyers.

The investor of the TT AVIO project said that the company will launch a special interest rate support policy for home buyers at the project, offering an interest rate of 6.7% for 3 years, instead of 12 months.

Speaking with Tuoi Tre Online , Mr. Shin Ogawa - CEO of the housing operation department Cosmos Initia (member of Daiwa House Group - Japan) - said that to reduce the burden of payment, the company has introduced a flexible "payment negotiation" policy by allowing customers to choose the time and amount of monthly payment.

During the 3 years of progress payments, in addition to fixed installments, customers can directly propose to the investor about the payment schedule. Buyers are free to choose not to pay, pay less or pay more according to the % amount in the period.

The Conic Boulevard project has been built and is currently open for sale with a flexible payment policy with a principal grace period of up to 60 months - Photo: NH

Mr. Le Tien Vu - Deputy General Director of EximRS - said that in addition to price policy, the success factor of transactions at this time also depends largely on promotional policies, financial incentives from investors and the level of completion of the project.

As at the Conic Boulevard project, in addition to the "affordable" price of 37 million VND/m², the company also offers flexible payment methods when buyers pay from 450 million (equivalent to 15%) to own a completed apartment.

In addition, the bank also supports 0% interest rate/year for 18 months, principal grace period up to 60 months, total incentives up to 10% and 2-year free management fee...

Similarly, Nam Long representative said that for completed projects, the company will offer incentives of up to 1.5 billion VND for customers who buy houses and settle down at Izumi City in the fourth quarter of 2024, or for customers who buy houses at Akari City project and settle down in the fourth quarter, they will receive incentives of up to 546 million VND.

The investor of a real estate company in Ho Chi Minh City said that at the end of the year, investors who have "goods" are forced to take advantage of the opportunity to "release goods", hoping to attract cash flow before Tet.

This time has two advantages for home buyers: interest rates and discounts of up to 10-15%, flexible payment methods... However, this person said that not all projects have good absorption rates, some projects also struggle to find buyers due to location factors.

Affordable apartment supply continues to be scarce

According to the Ministry of Construction, in the third quarter of 2024, the country's housing supply will have about 3,300 additional completed apartments, mainly mid-range, high-end and super luxury apartments, with apartment prices continuing to increase by 4-6% compared to the previous quarter.

The number of projects eligible to sell future housing nationwide in the third quarter of this year was 55 projects, with a construction scale of about 21,300 units, equal to 117% compared to the same period last year.

In the third quarter of 2024, apartment prices in Hanoi and Ho Chi Minh City continued to increase. The prices of old and new apartments increased by 4-6% compared to the previous quarter and by 22-25% compared to the same period last year.

The reason for the recent increase in real estate prices is due to the impact of a number of factors such as increased land-related costs, affordable housing products not being enough to meet market demand, causing apartment prices to increase, with some areas seeing localized price increases of 35-40% depending on location compared to the previous quarter.

Source: https://tuoitre.vn/nhieu-du-an-bat-dong-san-bung-hang-tung-khuyen-mai-hut-khach-giai-doan-cuoi-nam-20241106192846788.htm