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Development policies help to boost Ha Noi real estate sector

Update: November, 02/2013 - 09:37
An apartment complex on Le Van Luong Road in the capital's Cau Giay District.—VNS Photo Thai Ha

HA NOI  (VNS) — The real estate market in the capital city is showing a positive change, especially in the high-end apartment segment, said Tran Quoc Khanh, a property expert of G5 property trading floor which includes the Viet Nam Real Estate Association and four real estate trading floors in Ha Noi.

Khanh said in the last few months, the high-end apartment segment has seen a positive bounce back. For instance, the Discovery Complex project seeing 42 contracts traded successfully in just over three weeks.

A representative of Tan Hoang Minh Real Estate Trading Floor said only two weeks after its D'Le Pont D'or housing project officially started, at least 60 customers registered to buy apartments.

Dang Xuan Duong, who has just purchased a high-class apartment at Hyundai Hillstate in Ha Dong District for VND 25 million per sq.m, said the project investor has offered a flexible policy for buyers. Specifically, buyers can pay in advance 30 per cent of the total price and receive an apartment. The remaining finance would be paid in the following one year with no interest rate.

Apart from flexible policies offered by investors, design, construction quality and reasonable prices were important factors for buyers in making their final decision.

Nguyen Thu Huong a customer of Watermark project in Tay Ho District, Ha Noi, said the West Lake area is receiving many leases from foreigners who live and work in Viet Nam. So, She wants to use her idle money to buy a high-end apartment to lease.

Currently, the price of apartments fell more in comparison with a few years ago. According to Huong, the Watermark project is well situated next to the West Lake area, and apartments there have fetched VND 46 million per sq.m; and apartments at the D'Le Pont D'or project in Hoang Cau Street in Dong Da District, Hanoi, have sold at prices between VND30 million and 35 million per sq.m; and the Discovery Project Complex in Cau Giay District, sales fully furnished apartments for VND 27 million per sq.m.

According to Le Kim Khanh, a broker from Infoland real estate trading floor, the property market will see positive development as the year ends. Therefore, many property developers have started offering their promotion programmes to attract buyers.

For many projects such as Royal City, Times City, Mandarin Garden, Star City in Ha Noi ,investors are accelerating the construction process to handover apartments to customers on time. — VNS

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