The affordable residential segment is attracting more and more people


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The affordable residential segment is attracting more and more people

  1. 1. The affordable residential segment is more and more attracted Currently, many residential projects with the price of 11 to 15 million VND per square meter in districts such as Tan Phu, Binh Tan and Binh Chanh are attracting hundred of customers to visit and make a reservation. In the Southwest area of Ho Chi Minh City there are many middle price residential projects emerged following the East West Avenue such as Song Ngoc, Dong Dieu, Ung Thanh, Nam Viet- Thanh Nhut, Phat Loc, C&T An Phuc, etc. They will soon be in progress and will be available for sale within 1 to 2 years. In Binh Tan and Tan Phu, the market is also hot than ever with projects such as Long Phung Apartment, Lotus Garden, Dai Thanh, Phu Thanh. There are many reasons while these areas attract a lot of attention via Mr Nguyen Xuan Loc- director of Techcom Real Company. This is the place where the real estate fund is several; the prices are affordable and the amount of citizen living around is crowded. Furthermore, there is a high possibility to create new citizen zones that is convenient for transporting, living so apartments here have a high change of trading than areas with a few of people. In the Eastern areas of Ho Chi Minh, district 2, 9 and Thu Duc, there are not a lot of affordable residential projects because in most of these areas, the investors tend to luxurious projects, the area is too large or focus on villa segment. The land price in district 2 currently is too high due to the high expectation from Thu Thiem new urban area. Meanwhile, in district 9, Thu Duc, the land price is cheaper but the crowd of citizen is not as much as a Southern and South West areas, therefore the low cost housing segment here does not have as much attraction. Within 1 or 3 year next, the middle price housing market in Ho Chi Minh has a lot of potential as well as change to develop. However, if mini residential estates are allowed to be on sale, the market surely will have a lot of change because the prices of houses at that time will be lower and lower. CB Richard Ellis also provides their report emphasize in the fastest growing segment of the real estate market in Vietnam is affordable houses. Despite inflation in the third quarter, Vietnam economy is still developing stably. Furthermore, with the regulations of government in supporting the real estate market like the Decree 71, it creates more conveniences for citizen to approach an affordable house.
  2. 2. With those investment opportunity it’s best for investors to find out a reliable company to help in providing the best real estate options. Some fund company might be Ingate Capital, Vietfund management expecially VIPC Capital Management Corporation who offers a wide range of real estate options for investors. It also provides individuals as well as corporation great deals as well as maximizes the opportunities for investing in the middle price segment in Vietnam currently and in the following years. October 2010 Trang Pham Sales & Marketing Department VIPC Capital Management Corp., No. 8 Nguyen Hue, Dist. 1, Ho Chi Minh City, Vietnam