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Suburban flats gain popularity
Many luxury apartment buildings in outer-city districts have attracted investors and buyers in recent months because of affordable prices and attractive loans from banks, according to real estate companies.
Banks have been offering attractive mortgage terms to buyers.
Under these contracts, buyers pay only 30 per cent of the apartment value in advance, with the remainder paid over 20-25 years.
Dat Xanh Real Estate Company, one of the pioneers in building residential areas in outer-city districts, said the company had completed several apartment buildings, including the Phu Gia Hung in Go Vap District and Sunview in Thu Duc District.
A large number of customers have either bought apartments or shown interest in future purchase.
Luong Tri Thin, General Director of Dat Xanh Company said the price was between VND13 million-17 million (US$684-894) per sq.m.
An apartment with an area of 52-100sq.m sells for around VND1 billion ($52,631), a price that is affordable for middle-income households.
Another company, Khang Nam Real Estate Investment Joint-Stock Company, an investor in the Terra Rosa project in Binh Chanh District, said it was beginning to use special designs and apply advanced technology to shorten the construction process and reduce costs, in an attempt to lower apartment prices.
Le Thi Tram Anh, General Director of Khang Nam Company said it had completed phase 1 of the Terra Rosa project with investment capital of about VND500 billion ($26.3 million), consisting of 366 apartments.
vietnamnews
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