Vietnam - Realty firms continue discounts and promotions

The State Bank of Vietnam (SBV)'s policy to lower the lending interest rate and loosen credit for real estate sector has yet to create signs of prosperity for the local property market.

To save themselves, many real estate companies continued to give discounts, promotions and supports for customers. Duc Khai Co has recently directly supported the apartment buyers at The Era Town project (in District 7, HCM City) by incentives such as with payment of only 60 percent of the apartment value, the buyers can receive their house and the remaining part will be paid in 12 months or customers can also borrow 70 percent of the house value within 15 years. The apartment prices are ranging around 14-16 million dong per square metre.

Hoang Anh Gia Lai Group is preparing to launch Minh Tuan ground land project (in District 9, HCM City) at the price of only 12 million dong/m2 and Thanh Binh apartment project (District 7, HCM City) priced at about 23 million dong/m2.

In the southern province of Dong Nai, Dat Xanh Group said that it is selling 26.5 hectare Gold Hill project at the price of only 3.1-3.7 million dong/m2. Customers can choose the payment method according to their financial ability and may be discounted up to 10%.

Pacific Property and Infrastructure Development Joint Stock Co (PPI) and Thuduc House are also selling 100 ground land lots of Long Hoi City project (Long An province) at the price of 3-5 million dong/m2. Customers may enjoy a discount of up to 13 percent of the value of product together with a coupon worth 10 million dong.

VietBiz24

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