Amidst the high price of apartments, many investors “strongly” launched policies to support homebuyers
Data from Savills Vietnam shows that the mid-end apartment segment in Ho Chi Minh City is approaching the price range of VND 60 million/m2, an increase of 11% compared to the fourth quarter of 2021 and more than 27% year-on-year.
Dr. Su Ngoc Khuong, Senior Director of Savills Vietnam, said that when inflation occurs, the market will record a strong cash flow into the real estate investment channel, which is known as “safe money storage”. Real estate has a correlation with inflation, once inflation increases, real estate prices often tend to increase, even increase sharply. When inflation is higher along with moves like adjusting interest rates from the State Bank, buyers’ ability to pay will be more limited.
Therefore, the “strong hand” incentives of real estate investors at this time are considered as the most practical solution for homebuyers to buy real estate during a time of escalating prices.
For example, recently at the Westgate project (Binh Chanh), An Gia investor is applying a quite flexible sales policy. Accordingly, buyers only need to pay up to 699 million VND and stop making further payments until they receive the house in the fourth quarter of 2023. For the rest, the investor supports interest rates, graces the principal until receiving the house, and at the same time, commits to a profit of up to 18%.
Thus, with an initial payment of only VND699 million, customers can easily own apartments with more bedrooms or buy multiple apartments at the same time for investment purposes. Up to the time of receiving the house, the profitability can be achieved from 70-200% when the average apartment price increase margin of 10-30% after 1-2 years.
“This policy is designed to suit young families who use financial leverage to buy a house. From an investment perspective, this policy also brings many advantages to homebuyers, especially those who own homes. investment with low capital”, An Gia representative said.
Or, the MT Eastmark City project in Thu Duc City is also having a grace period and 0% interest rate support until the house is received, which is of interest to customers. This project has a scale 2,000 apartments, customers with only 30% of the apartment value – about 600 million VND, the remaining amount is supported with loans at 0% interest rate, debt grace period until the time of receiving the house, helping buyers have more time to buy. 3 years to relax and balance finances.
In the same area, the Fiato Premier project of Hung Phu Invest investor, developed by Thang Long Real Group, introduced to the market at the beginning of the year also has an attractive payment policy. Accordingly, in the context of the complicated development of the Covid-19 epidemic, the price of apartments has increased, this business has supported buyers with a loan policy of up to 70% of the value of the apartment, a grace period of 18 months. and 0% interest rate; Free management for the first year when receiving the apartment handover.
In the West Saigon area, recently Nam Long Group are also spending nine attractive payment books for Flora detached apartment product line belongs to Akari City project. It is known that this apartment has a price of 2.7 billion VND / 2-bedroom apartment, customers only need to pay 50% of the contract value within 27 to 30 months of construction until the house is handed over. Thus, the buyer only needs to pay about 1.4 billion dong within 30 months. This, according to the investor, will reduce a lot of pressure for payment. Those are also important factors for families wishing to buy a house to have time to arrange and balance financial resources.
In the area adjacent to Thu Duc City, the Phu Dong Sky Garden project officially started recently is also offering attractive payment incentives for homebuyers. Specifically, this investor offers an optimal “capital support” policy when customers only need to pay 20%, the bank lends 50% during 2 years of construction with 0% interest, grace period. That is, a 70m2 apartment costs 2.8 billion, young people only need to have a modest accumulated capital of about 560 million VND – this is the financial amount that the majority of young families own. In the remaining two years, buyers will have time to balance cash flow when handing over the house, minimizing financial pressure.
The record shows that, with the desire to support customers in owning apartments, the project investor has applied many support programs to let customers “open the door” to solve the cost problem, thereby contributing to Market sentiment is more positive.
Real estate expert Tran Khanh Quang once shared that the current real estate market belongs to buyers. Accordingly, the supportive policies from the investor, and the reputation of product quality are the plus points for buyers to have more opportunities to own a home. For investors, taking advantage of this policy to optimize investment cash flow is also a safe way to generate profits.
According to expert Colliers Vietnam, in the context of the escalating real estate price market, and the Covid-19 epidemic has not ended, investors have also clearly shown their willingness to share difficulties with customers. For customers with not too much initial accumulation, these incentives will generally help them “breathe”. Not to mention, real estate buyers are also “more relaxed” psychologically during this period when choosing the most suitable real estate for themselves, limiting being dominated by “crowd psychology”. to emotional decisions.
“It is clear that the current supply is not enough to meet the demand, so the application of many support programs by the developer will help many people with real housing needs soon own their dream home. This policy will also contribute to better market sentiment after a rather “dismal” period due to the recent outbreak of the Covid-19 epidemic,” expert expert Colliers emphasized.
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