The price tag is 2.6 times the luxury segment average in the city at $6,900 per square meter, according to data from real estate consultancy CBRE. Most real estate consultancies define a luxury apartment as one that is priced $4,000 or higher. The project is located on Ton Duc Thang Road that runs alongside the Saigon River in District 1. Its apartment prices range from VND18-24 billion ($780,000-1 million) per unit, with areas depending on acreages from 40-110 square meters. The project has low construction density with trees covering 60 percent of the total area. Each floor has 10 apartments and eight elevators. Data from real estate consultancy Savills shows that Vietnam is among the top 10 fastest growing branded residences real estate market in the world, alongside Malaysia, the U.K. and Australia. Branded residences are products created by a real estate developer with a well-known manager. Matthew Powell, director of Savills Hanoi, said that in Vietnam, many buyers looking for property in the luxury segment with the highest quality for either rental or residence purposes. The boom in this type of apartment is changing the structure of the real estate market. The luxury segment accounted for 39 percent of… Read full this story
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