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HCM City apartment prices fall
Apartment prices in HCM City are at their lowest levels of the last several years, real estate agencies have said.
Medium – and high-priced apartments are being offered for much lower rates than six months ago.
Tran Quang Binh, owner of a real estate brokerage office in District 7, said rates on an upscale apartment building in District 7’s Sai Gon South had dropped dramatically.
The Him Lam Riverside project in District 7’s Tan Hung new urban area is in a highly desirable location, but the price is now US$700 and $800 lower than similar apartments sold only months ago.
"They’re selling for an average US$1,800 per sq metre. But Sunrise City apartments, which are in the same location, were selling for US$2,500 to $2,600 a few months ago," Binh said.
Medium-priced apartment are also selling at much lower prices, less than US$1,000 per square metre.
Most medium-priced apartments are in districts 6, 2 and Thu Duc and located in areas with adequate social and technical infrastructure.
The price of these apartments average only VND12 – 13 million (US$674-730) per square metre, compared to the former rate of VND17-18 million.
Blue Sapphire in the Binh Phu new urban area in District 6, for example, is selling apartments for VND12.9 million per square metre, and is offering discounts, according to Huynh Van Khang, director of the Van Khang Real Estate Company in District 6.
Apartments at the Babylon Residence project in Thu Duc District are being sold at VND14.5 million per square metre, with a 3 per cent discount.
"People with only VND1 billion can now own a smart apartment," he said.
Nguyen Xuan Chau, deputy general director of Him Lam Real Estate Joint-Stock Company (Him Lam Land), said buyers should grasp this opportunity when supply is plentiful.
vietnamnews
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