According to experts, the demand for Ho Chi Minh city apartments for sale is very high, especially in densely populated areas. However, in order to develop this type of apartment, it needs more supportive policies from the state.
Easier to rent than sell?
According to C.T Group, the investor of the Bee Home apartment rental project in Tan Binh district, Ho Chi Minh city, 173 Ho Chi Minh apartment for sale have been rented. The rental price is divided into two types, for the rental of 6 years, the rental price is 2.5 million Vietnam Dong per month. If the tenant pay the monthly price will be 7 million per month. Currently, the investor is building another block of 145 apartments with the same rental rate. Up to now, 30% of apartments have been registered by the customers.
Representatives of CT Group said that the business strategy of the Bee Home product line of the corporation is aimed at young customers, employees, teachers, etc. Because they are often newcomers, difficult home Stay in and only afford the rent instead of buying.
Another prominent Ho Chi Minh city apartments for sale is Le Thanh Twin Towers of Le Thanh Company as an investor in Binh Tan District. The project consists of 625 apartments with an average area of 35 square meters, the rental price is about 240 million dong in 15 years. As a result, the average monthly rents paid by the client is over 1.3 million VND. After 15 years, the owner will withdraw the apartment for refurbishment and further lease.
Need support from the State
According to Mr.Le Hoang Chau, chairman of Ho Chi Minh city Real Estate Association, in developed countries, the market often thrives on rental apartments. This is a response segment for young Start-ups, young families or the urban poor. Initially they rent, until they accumulate enough money, they will move to buy a house. Then, the apartments returned by the tenant will continue to serve the new customer class.
Meanwhile, in Vietnam, very few businesses are willing to build Ho Chi Minh apartment for sale, mainly for investors who buy apartments and rent them out, as an investment channel. “The business is not willing to make the apartment for rent because the cost of project investment is too large, while the rental must be collected in the retail. The state still does not focus on the type of apartments for rent, making this market can not develop” – said Mr.Chau.
According to Chau, the legal corridor of the Ho Chi Minh city apartments for sale has no sample contracts between customers and businesses. The most important thing is that this type of apartment is not legally recognized as it has not yet been issued with a certificate of ownership.
Therefore, in order to ensure that customers are comfortable renting apartments for a definite period of time, the State should issue a definite term ownership certificate for this type of apartment so that customers can pledge or transfer their right to rent in the apartment. period of renting an apartment. In addition, it is necessary to provide credit support for low cost housing projects, about 2-3 million VND per apartment a month, to encourage businesses to invest.
Many redirect rental projects
While the supply of Ho Chi Minh apartment for sale with reasonable price is showing signs of scarcity, in the high-end segment, many projects have been turned to exploiting.
For example, Tan Binh Investment – Construction Company has leased 20% of apartments in the apartment project on Hoang Van Thu street (Tan Binh district) for lease. The rent of this project is about 5 million VND per month with apartment 47 sqm.
Waterfront project on Ton Duc Thang Street (District 1) also has more than 180 apartments for rent. For example, the New Pearl project on Nam Ky Khoi Nghia (District 3) also has 161 apartments. Sherwood Residence (District 3) after more than five years of operation, now renovates the interior of the apartment for tenants. The Saigon Sky Garden project continues to separate large apartments in District 1 for clients who are single, young professionals who enjoy the hustle and bustle of downtown.
The real estate market in Ho Chi Minh city has been up and down in the past 6 months, this article have given you an overview about this issue. If you want to invest in Ho Chi Minh city apartments for sale market, let’s just take a wider look before spending your money.
Thang Tran – Mogi.vn
