News & Events

News & Events | 27-08-2021

APARTMENTS MEET NEEDS OF SETTLEMENT IN WEST SAIGON

Launched in the context of the epidemic, apartment projects in the West Saigon area still attract buyers thanks to meeting market needs.

According to Mr. Le Hoang Chau - Chairman of Ho Chi Minh City Real Estate Association (HoREA), the market lacks supply of housing projects and products, especially affordable commercial housing. This situation affects the assurance of social security in housing for the majority of middle-income people in urban areas, civil servants, intellectual workers and immigrants...

Limited supply

CBRE Vietnam's Ho Chi Minh City market report for the first three months of the year also showed that the mid-end segment accounted for 41%, while that in the previous years accounted for about 55-60% of total supply. The luxury and high-end segments accounted for 39% and 20% of total supply, respectively, there was no supply offered in the affordable segment in the quarter. In terms of location, the western area only accounted for 14% and the central area accounted for 3% of the total supply.

Căn hộ khu Tây Sài Gòn
A corner of Vo Van Kiet Boulevard in July. Photo: Thanh Nguyen

The actual situation of supply shortage has not been improved much in the second quarter. Savills report noted that in the apartment segment, primary supply decreased by 25% QoQ and 18% YoY to the lowest level, only nearly 3,700 units. According to this unit, the limited supply is due to the small number of just offered apartments and low inventory. There were 10 projects temporarily suspended for sale to adjust prices. New supply in the second quarter was 3 new projects and in the following 6 phases of existing projects, more than 1,600 units were reached, down 26% QoQ, down 23% YoY and accounting for 45% of primary supply in Q2.

Despite of the supply shortage, the needs of a civilized and modern living environment are constantly increasing. According to Ms. Tran Ha, a resident of Binh Tan District, Ho Chi Minh City, for many months she has been looking for a home to settle down but has not had many options. Projects that meet real residential needs with beautiful location and well-invested utilities are always her first choice.

Momentum of real estate in the West

Ho Chi Minh City is a multi-point economic center, each its area has its own economic characteristics. Serving two main production areas, the East and the West, along with two d
"If, the investment in the East is somewhat synchronous and fast, that in the West is lacking modern apartment products. Typically, apartments are priced around 50-60 VND million per m2 right in Ten Lua area, Binh Tan district", an expert evaluated.

Momentum of the development of real estate in the West is also many key and arterial roads such as Vo Van Kiet, Nguyen Van Linh Boulevard and Phu My Bridge that help connect easily to the West, South and East areas.

Besides, this area also gathers a series of large-scale industrial parks and industrial clusters, such as Tan Tao industrial park (443ha), Vinh Loc industrial park (200ha), Le Minh Xuan industrial park (100ha), Phong Phu industrial park (140ha), An Ha industrial park (120 ha)... The West also borders Long An - one of the industrial "capitals" of the southern provinces. The strong development of industry also entails housing needs for the community of migrant workers, senior experts and engineers to come to live and work.

Căn hộ khu Tây Sài Gòn
Tan Tao Industrial Park is located in Binh Tan District where hundreds of domestic and foreign manufacturing companies are located. Photo: Quynh Tran

With a competitive price, the experts evaluated the real estate in the West of Ho Chi Minh City would have a strong bounce in the future. In addition, a survey at a number of brokerage units shows that the volatility of real estate prices in the West always falls on an average threshold of 15-20% per year. At the time when the market develops well, the prices in the projects with great road front can increase to 30% per year. In which, Binh Tan district - the center of the market wave of the West is being expected by many investors.

Meeting settlement needs

After the success of projects in Ten Lua area - the center of Binh Tan district such as Moonlight Park View and Moonlight Boulevard that were handed over, Hung Thinh Land continues to launch the latest apartment project called Moonlight Center Point. A survey at PropertyX - the exclusive marketing and distribution unit of the project shows that Moonlight Center Point is attracting strong attention from investors and buyers right after being announced online.

According to an expert, Ten Lua area where the project is located is the busiest area in Binh Tan district. The number of apartment projects developed around this area has been still limited.

"A few years ago, this place witnessed the excitement of customers with apartment projects. Therefore, the appearance of a large project from Hung Thinh Land has been more and more awaited," he said.

Moonlight Centre Point
Perspective of the Moonlight Center Point project. Photo: Hung Thinh Land

From the location of the project, Moonlight Center Point residents can access a range of attractive external utilities in the area such as Aeon Mall Binh Tan right next door, Cho Lon area with less than 10 minutes of traveling as well as a nearby chain of international hospital, school, West bus station... Hung Thinh Land has also created a series of modern and synchronous internal utilities, bringing many amenities to residents such as 2 sky pool swimming pools, internal park, walking path, multi-purpose sports field, gym, kindergarten, children's play area, outdoor BBQ area.

"Settling down here, residents can immerse themselves in a dynamic and comfortable life right at their doorstep. A peaceful, private, secure life with an intellectual community is also a plus point highly appreciated by customers", a broker said.

In order to have more opportunities for homebuyers, Hung Thinh Land applies many support policies such as attractive payment progess from only 1% per month, depending on construction progress. VPBank offers a loan of 75% of the apartment value for a term of 25 years, with a preferential interest rate from 7.7% per year. MB Bank offers a loan of 80% of the apartment value for a term of 20 years, with a preferential interest rates from 7.7% per year. Converging many strengths in terms of location, utilities, sales policy... Moonlight Center Point is expected to solve the problem of settlement for city residents in the context that the inner city's land fund is increasingly scarce.

www.facebook.com/HungThinhLand.Official.
- Hotline: 19006958
- Website: www.moonlightcentrepoint.com.vn
For more information about the project, see Livestream Event: Moonlight Center Point - "Magnet" that attracts settlement and investment at 9:30 am on August 28 at fanpage www.facebook.com/HungThinhLand.Official.
- Hotline: 19006958
- Website: www.moonlightcenterpoint.com.vn

Theo vnexpress.net

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