Unlike the cautious sentiment of the previous year, on "ghostly month" (July on lunar calendar) of this year, ...
Unlike the cautious sentiment of the previous year, on "ghostly month" (July on lunar calendar) of this year, the real estate market on the South still have full of commercial activities within number of projects.
Unlike the cautious sentiment of the previous year, on "ghostly month" (July on lunar calendar) of this year, the real estate market on the South still have full of commercial activities within number of projects.
Massively launching profects
As noted by the Investment Property newspaper, the different points of market on this "ghostly month" are difference in the supply of project components and active market. Effectively, we can easily find out that the products launched in July lunar are high quality apartments, villas, houses on the East and South city areas. The low price apartments segment has a weak position in the market.
In South Saigon area, the investor Phat Dat launched 528 apartments and 75 villas in Everich 3 project this month. Also during this period, the investor Phu My Hung introduced 554 appartements in Happy Residence households’ project. Similarly, the Green Land Group announced to the market the LuxCity apartment project in District 7.
On 23/8, in the South East city, Sacomreal - the investor of Jamona Home Resort project was officially opened sale 238 resort villas. However, according to the investor, more than 1 month introduced, nearly 200 unites in the project have been ordered, about 10% of customers are foreigners, overseas Vietnamese.
According to Le Hoang Chau, chairman of City Real Estate Association at HCM city, customers are no longer psychological abstinence too much as before. If they really need to purchase a product which has good value, good location for living or even for investment, they are willing to buy it whether on the “ghostly month”.
More deficit spending policy
Explaining the phenomenon of booming luxury apartments, the absence of low price apartments at the first open sale in July Lunar, Ms. Vo Thi Diu Hien, Deputy General Director of Sacomreal said, at the beginning of July, the new regulation of Real estate business Law allows to overseas Vietnamese and foreigners to buy houses. It has given a new chance to the real estate market and the "ghostly month" falls in this new policy.
Therefore, the investor entered into the race of buiding projects in the area where live foreigners and in the south of the country to meet the demade of foreigner customers.
In this race, the company going fast in decision and strength in finance will dominate the market. On the other hand, foreigners have no doubt about July lunar, so the companies should have business as usual.
For domestic customers, to stimulate demand in this period, the investors launch a lot of great promotions like discounts, gifts voucher. So this is the best moment for customers owning a house or an apartment with a best price of the year.
Another important factor to promote the sales through "ghostly month" is the interest rate movements in the last months. According to experts’ analysis, the import demand of Vietnam is often higher during last months. Otherwise, the exchange rate VND/ USD which is growing up can stimulate interest rates on the last months of this year. Thus, the investor will sell their projects as soon as possible, including on the "ghostly month". Therefore, customers can take advantage of promotion programssuch as bank interest rates to reduce their financial worries.
The abstinence psychological on "ghostly month" is no longer too heavy. In addition to a series of promotional policies, the market has been prompted more actively. The scenario “do nothing” in the “July Lunar” is an image on the past.
Source: TNCK