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HCM City developers start looking North
Property developers in the south are turning to Ha Noi and northern provinces to find buyers. HCM City-based Kien A Investment&Services Limited Company (Inveskia), which has launched the Imperia An Phu apartment complex in District 2 at a cost of more than US$120 million, is marketing it to customers and potential partners in the capital.
The project consists of 700 apartments priced at VND30 million to 41 million per square metre.
Kien A will ferry prospective buyers from the north to HCM City to see model units and the site.
It has tied up with Techcombank which will offer loans of up to 70 per cent of the value of an apartment.
Khang Gia Property Development and Investment Joint Stock Company unveiled on Wednesday three apartment complexes – Khang Gia Go Vap and Lucky Apartment in Tan Phu District, both in HCM City, and Nam Long residential area in Long An Province.
Analysts said northerners buy property in the south, especially units at resorts, as vacation homes or for investment.
Another reason is that property supply remains limited in the north whereas it is abundant in the south.
Developers would continue to woo northern investors in the future, they added.
Nguyen Dung Minh, Sales Director at Savills Viet Nam Real Estate Consulting Management Company, said expansion into the northern market was a positive sign for the Vietnamese property market. It was likely to spark off severe competition, he added.
vietnamnews
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