Mid-end condos still sell well

With reasonable prices and flexible payment plans, several mid-end apartment projects achieved fairly good sales in the year’s first half.

Project owners launched their products on schedule, with many sales events organized in the first six months. Thus, the market was not as gloomy as many people thought.

Hung Loc Phat Co. last Saturday started offering 100 apartments among the total of 358 at the Hung Phat project on Le Van Luong Street in HCMC’s Nha Be District.

These apartments are quoted at VND14.7 million per square meter and will be handed over to buyers when they have paid 60% of the home value, or some VND630 million. The remaining sum will be settled within 24 months.

Half of the apartments on offer found buyers on the launch day, said Nam Viet Real Estate Co., the project distributor.

Earlier, Nam Viet put up 100 apartments at the project Khang Gia-Tan Huong in Tan Phu District for sale at around VND15 million per square meter. Some 90% of these flats have been reserved.

Luong Tri Thin, general director of Dat Xanh Group, said the mid-end segment was currently the center of the market, so project owners must have suitable pricing strategies and financial support for customers.

A member company of Dat Xanh on June 23 offered over 40 apartments at the Gia Phu Khang project in Thu Duc District, which were all sold in the morning with prices starting from VND10 million per square meter, exclusive of VAT.

Dat Xanh has been selected as the distributor for 336 apartments at the project 4S Riverside Linh Dong developed by Thanh Truong Loc Co. in Thu Duc.

Meanwhile, Nam Long Investment Corp. continued to offer its Ehome 3 condos at the project in Binh Tan District after selling 330 units in August last year.

Thirty three of the 161 units going on sale on June 22 have been registered. These apartments are offered at prices starting from VND710 million per unit with two payment options.

With the first option, buyers will make a down payment representing 30% of a home’s value when signing contracts, and will not have to pay any installment until the apartments are handed over to them.

Meanwhile, the second option allows homebuyers to make a 10% down payment when signing contracts. From then to apartment handover, they will make further payments reaching 30% of an apartment’s value. - Source: The Saigon Times