Monday, May 25 2020

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Property developers offer more products, support to boost HCM City market

Update: March, 28/2020 - 07:52

 

Real estate developers in HCM City are looking for ways to boost the market amid a slump caused by the Covid-19 epidemic. VNS Photo Văn Châu

HCM CITY – The HCM City real estate market provides more housing projects and subsidises rentals to boost the market amid the Covid-19 epidemic.

An announcement by the city Department of Construction in the first quarter said there were 3,137 housing products comprising apartments and townhouses in nine projects in the market.

Notably, a six-star hotel and office project opposite Bến Thành Market in District 1 is now putting for sale 214 apartments after years of delay because it is the first project in Việt Nam with six basements, which caused some unique difficulties.

Beside luxury properties, investors are also providing social housing on a large scale: 352 units at the Nam Phan project in Phú Hữu Ward, District 9, are available for sale.

This is unique because normally social housing units rarely exceed 100 in any sale, according to the investors.

Another project is in Thủ Thiêm Ward -- Metropole Thu Thiem -- with 465 housing units.

Besides providing more housing products, developers are also offering more support policies in the context of the Covid-19 epidemic, according to the investors.

Hưng Thịnh Corporation JSC, for instance, will reduce rents by 20 - 40 per cent at commercial centres at its Moonlight Plaza in Thủ Đức district, Saigon Mia in Bình Chánh District and Vũng Tàu Melody in Vũng Tàu City.

Vingroup said it would spend VNĐ300 billion to subsidise lessees at all its 79 commercial centres with fixed-price leases.

It would also extend the payment periods for people buying houses. – VNS

 

 

 

 

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