A series of investors continuously launched preferential policies to stimulate consumers while the real estate market was illiquid. For real estate buyers, this is an extremely good time to buy real estate at a good price. Many investors launch a series of preferential sales policies aimed at solving financial problems for home buyers, contributing to …
A series of investors continuously launched preferential policies to stimulate consumers while the real estate market was illiquid. For real estate buyers, this is an extremely good time to buy real estate at a good price.
Many investors launch a series of preferential sales policies aimed at solving financial problems for home buyers, contributing to helping the real estate market be vibrant again.
Increasing incentives helps the real estate market warm up
At this time, businesses are accepting deep reductions in profits, even incurring losses to offer customer support policies, thereby helping to increase payment. This is both considered a solution for businesses to overcome volatile times and a “rare and difficult to find” opportunity for real buyers.
The most prominent is the Legacy Prime apartment project developed by Kim Oanh Group in Thuan An city. This project is being offered for sale at a price of VND 1 billion with a prepayment policy of only VND 166 million, supporting a fixed interest rate of 9.9% for 3 years, exemption from interest payment until receiving the home, and grace the principal until 12 months after receiving the home.
In addition, customers also receive a series of incentives such as: successful deposit transfer to receive 1 gold thread immediately, 8% discount when paying 70% with own capital, 4% discount when paying with own capital on schedule, 1-3% discount when buying wholesale, 1% discount when borrowing bank loan, early payment discount up to 18%/year, Buy a house – Win a house, Buy a house – Win a car, Visit a luxury house – Win a real house … The investor of the Legacy Prime apartment project also confirmed that, after a few weeks of announcing preferential policies, the number of customers coming to learn and transact has increased markedly compared to the end of 2022.
Special preferential policies attract a large number of interested customers, many projects recorded a clear increase in the number of transactions
Recently, An Gia Group is also having a promotion policy for customers who buy apartments at Westgate project. Accordingly, customers only need to pay up to 30%, equivalent to VND 1 billion, to receive housing immediately. In addition, buyers do not have to pay the remaining amount within 18 months after receiving the home, a 1-3% discount for loyal customers and free management fees for 2 years.
Nam Long Group also maintains preferential loan interest rates with two apartment projects Akari City (Binh Tan District) and Mizuki Park (Binh Chanh District). Customers buying Akari City apartments can choose two flexible payment methods including, applying 0% interest rate and principal grace period for 18 months or applying a stable interest rate of 6% and principal grace lasting for 2 years, exempting 2 years of management fees from the time of handing over the house.
Not only apartments, many townhouse and villa projects are not out of the preferential race. For example, at Phuc An Asuka real estate project, Tran Anh Group offers incentives for people who only need to pay 12% of the product value in advance, then pay an additional 0.5% each month to be able to own.
Large investors such as Phu Long, FIFA Investment, Hung Thinh … is also offering a variety of incentive programs. According to experts, in the current context, these policies have contributed to improving liquidity, making the market gradually vibrant again. If the client is in real need of housing, this is a good time to be able to buy a home.
It's now or never
In fact, real estate prices have decreased but not much and are mainly in the segment of land plots, high-end apartments, resort real estate. Particularly, the apartment segment meets real demand, drip supply is still attracting many interested customers, so liquidity is still a remarkable bright spot.
Data from Cushman & Wakefield Vietnam shows that the average primary price of apartments in Q4/2022 reached about 2,799 USD per m2 (equivalent to 66.7 million VND). Mrs Trang Bui, general director of Cushman & Wakefield Vietnam, said that credit controls also make it difficult to disburse loans to customers, leading to a decrease in sales volume and absorption rate, but prices still tend to increase in the future.
Forecast of new apartment supply this year in Ho Chi Minh City is about 18,000 units but most of them are in the mid-end and high-end segments. It is difficult for apartment prices to decrease in the near future when supply has not improved and the situation of raw material prices increasing “galloping”. From a market perspective, currently only apartment projects in the price range of 30-40 million / m2 are the most interested, the lower price has no supply while the high-end segment is still “standing in shape”.
Prominent in the real estate market of Binh Duong province is the Legacy Prime project being offered for sale at a price of VND 1 billion. The price is considered suitable for the majority of young families living and working in Binh Duong and the surrounding area, including middle-income workers.
The recent market report of Nha Tot also shows that, in 2023, the market will screen, real estate products serving real demand will increase liquidity. “This demand persists and is sustainable whether the market is good or bad. So, with maximum discounts and support for the time being, this is a “10-year opportunity” to buy a reasonably priced home. If customers know how to seize the opportunity, they can not only buy a good house but also receive maximum financial support,” said the report of Nha Tot.
“If you have cash, this is a good time to put down money because at no time have developers had such good stimulus policies. The profit margin will be high when the market bounces up. Particularly with apartment products aimed at the real segment, it will be very liquid and ensure profits. I myself have just bought an apartment in Thuan An after evaluating factors from location, utilities, legal… to the potential for price increase”, Mr. Nguyen Quoc Dat – an investor with nearly 10 years of experience – said.
Lam Anh
