Housing supply in HCMC profuse: businesses

The real estate market has not escaped from consequences of the 2009-2013 crisis but has significantly recovered this year. A slew of new projects have gone on sale and investors have entered a fierce race to get customers.

Customers learn about an apartment project (Photo: SGGP)

After three years of construction, Dai Quang Minh Company has announced to open nearly 400 apartments of Sala project for sale in June at the price of VND40 million (US$ 1,900) per square meter. Locating adjacent to Sala is The Sun Avenue in Nguyen Huu Tho and Dong Van Cong Streets, where the square meter is sold at VND24-28 million.

Over 700 apartments under Him Lam Cho Lon project have also been offered for sale. Other projects have gone on sale such as 8X Rainbow in Binh Tan, Florita in District 7, TDH-Phuoc Long in District 9, Idico in Tan Phu, An Gia Riverside in District 7, Saigonres Plaza in Binh Thanh, La Astoria in District 2…

Several housing land projects have also been opened for sale such as Five Star, Cat Tuong Phu Thanh and SJC@Vsip...

Chairman of HCMC Real Estate Association Le Hoang Chau said that businesses have brought out new projects and revived a number of frozen ones after eight years of difficulties.

The launch of a series of new projects with attractive advertisement has confused potential house buyers and put investors in a severe competition to get customers. The Government has recently warned of the return of a property bubble.

Deputy Director of Him Lam Land Company Ngo Quang Phuc said the housing supply very abundant and advised customers to carefully find out about projects that they are interested in so as to make an accurate choice, suiting their demand and financial conditions.

An apartment block in District 2, HCMC (Photo: SGGP)

By Do Tra Giang – Translated by Hai Mien

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