Real Estate Transaction Will Be Exciting
Real Estate Transaction Will Be Exciting
The transactions of real estate exchange in May are more crowded than before in Ho Chi Minh City. Director of Vinareal Real Estate Co. Nguyen Nhat Sinh said that transaction of Vinareal Exchange from April is more exciting than that of the beginning of the year. In the segment of middle house, the amount of transaction is increasing 20-25%; the luxury house segment also rises 10%; land transaction increases slightly as well. The projects which attract investors most are Huy Hoang, Thanh Loi My, Binh Trung Dong ones. According to Mr. Sinh, many people are interested in these projects because after the ceremony of Saigon River Crossing Tunnel Breaking, the price of land and house will rise.

Mr. Le Chi Hieu, the chairman and director of Thuduc House said that transactions the company’s exchanged are more evenly than the Quarter I. Thuduc apartment product line has the price of VND 17-19million/ m2. The luxury house product line begins to have transactions but it does not meet customers’ demand.
Mr. Bui Tien Thang, Vice Director of Saigon Thuong Tin Real Estate Company said that although there are some good signals which the number of transaction increases 30%, that just focus on the middle segment such as Belleza and some land projects at Di An commune, Binh Duong…To explain for the slight increase, Mr. Thang said that the land price tends to reach bottom, which cannot go down anymore.

Some projects which have good location should be transacted as quickly as the land projects in An Phuoc, Long Thanh, Dong Nai implemented by Dat Xanh Real Estate Joint Stock Co. and Long Thuan Loc JSC (458 lots sold). These events have canalized the real estate market in Dong Nai in 2010. Other real estate exchanges still have the same situation.. Vice Dircetor of Vinaland Real Estate Company said that transactions on real estate exchanges have a rise of 5-10% because property product is much diversified in some segments. Some small and middle projects still attract buyers.

Looking for the end of the year

According to Mr. Le Chi Hieu, some projects which have good locations attract many investors. The people who buy house and land in the area are mainly for savings, not for living. Hence, the market is a little bit recovered. The demand of house, especially in big urbans, is increasing. Although the supply is not small, that has not met the demand. Besides, the payment ability is higher than before because living standard rises and other cost forces decrease.

On the other side, many experts said that the development of district 2 real estate will raise the market in other areas such as Tan Phu, Binh Tan and other provinces. Some of which have good location will get benefit from infrastructure. Land and house rises 30% more than the end of 2009. Vinaland continues directing their customers to some potential market such as land, middle and middle-good house in district 2

According to the research of Construction Department, there are about more than 1 million people, 250 houses in Ho Chi Minh City. Most of them are just able to buy house under VND 500 million. And according to the data of CBRE, from Quarter II to Quarter IV, there are 60 projects with total 29100 houses in Ho Chi Minh City. Hence, it’s a big chance for businesses to take because there are a great deviation between supply and demand.
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