A lot of people are hunting the projects with
the completion of ground clearance and houses on basis of competitive land
price and construction cost.
Investors offloading the projects with
uncompleted legislative procedures
Investing
in real estate is always the purpose of many urban people because everyone thin
that the investment will come to victory, never loss. So, not only those with
abundant money but also the people with modest funding all have chosen specific
segments to invest.
However,
since the market became gloomy, the real estate price has fallen sharply, many investors
had time to calm down and learn lessons for them.
Coming
from the reality, prices of the projects with uncompleted procedures or ground
clearance are slipping. Typically, the price of Thanh Ha-Cienco 5 project (Ha
Dong Dist, Hanoi) plunged 40-45 million dong to 20-25 million dong per square
meter, Kim Chung-Di Trach from 50-55 million to 25-30 million dong/sqm, An
Thinh 6 project from 28 million to approximately 20 million dong/sqm.
Bich
Lien, Director of Hanoi real estate trading floor said that in Ha Dong Dist,
the project land prices saw a clear difference. While the prices of urban areas
such as Van Khe, Van Phu, Xa La fell 7-10 million dong/sqm on average, that of
the others like Thanh Ha dropped 20 million dong/sqm.
“Currently,
the market is focusing on the completed projects and available delivery. And
the projects with pending ground clearance are not attractive and almost
unmoved for the last one year”, she added.
House
buyers in the past recent really lost faith in real estate projects because
there have been a lot of legislative conflicts between buyers and investors. So
the market is shifting to the safe investment trend due to limited credit of
banks and limited money source of buyers.
Opportunities from old projects
The
market trend is offering good opportunities for completed projects.
Nguyet
Nga, Director of Phat Loc Real Estate Company was quoted as saying that the
property price is at low level therefore many customers decided to join the
market at this time. The point is that customers are paying attention to
completed projects only. A house in the projects in Ha Dong Dist costs around
7-8 billion dong per 80-90 square meter unit. But with only 4-5 billion dong,
customers can afford to buy a house with completed body construction, which is
attractive for long term investors and real demanders who do not have financial
pressure.
VietBiz24
Business & Investment Opportunities
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