The Grand Manhattan, which has been introduced to the market half a year ago, keeps the luxury property segment hot thanks to its dual benefits of rising prices and high rental yields in the future. The Grand Manhattan boasts a frontage onto Co Bac Street and Co Giang Street in the heart of District 1 Prospects of rising prices According to a report by CBRE Vietnam, the entire Ho Chi Minh City only has around 400 luxury apartments priced from $3,500-7,000 per square metre, mainly concentrated in the heart of District 1, accounting for a humble rate of only 0.3 per cent of the total apartment supply (nearly 160,000 units). The luxury segment is heated up with new projects like The Grand Manhattan, which was launched by Novaland at the beginning of this year. The complex comprises of three 39-storey apartment buildings with four underground floors. It is being built on an area of 1.4 hectares, supplying 1,000 luxury apartments with long-term ownership for homebuyers. As land is … [Read more...] about Dual benefits of investing in luxury apartments in District 1
Dwell luxury apartments orlando
Altara Residences – Quy Nhon”s first luxury residence
The Quy Nhon Altara Residences project invested by Quy Nhon Foodinco JSC was launched yesterday in Hanoi, proving the strong development of the central city of Quy Nhon. Altara Residences will be an outstanding real estate project offering unparalleled quality in Quy Nhon city of the central province of Binh Dinh Located at 76 Tran Hung Dao Street, Hai Cang ward, Quy Nhon city, Altara Residences is highly recommended by real estate experts because of its prime location, modern design, various facilities, and especially for it being the very first luxury apartment project in Quy Nhon operated by an international operator. Additionally, this will be the first time apartment owners are offered long-term ownership at project of this calibre. Specifically, Altara Residences will have a height of 40 floors and 479 luxury apartments (1-2 bedrooms, covering 45-71.5 square metres each), together with unmatched technical infrastructure system and modern facilities. The project … [Read more...] about Altara Residences – Quy Nhon”s first luxury residence
More foreigners buying apartments in Ho Chi Minh City
Many foreigners are buying property in Vietnam, especially in HCM City. Most of them are from mainland China, Japan, Singapore and the Republic of Korea.(Photo: VNA) HCM City (VNS/VNA) - More foreigners are buying apartments and investing in real estate in Vietnam, especially in Ho Chi Minh City, with most of them coming from mainland China, Japan, Singapore and the Republic of Korea. Ngo Quang Phuc, General Director of Phu Dong Group, said that since the amended Law on Housing 2014 took effect in 2015 the domestic property market has seen increased interest from foreign buyers. From 2008 to 2014, only 126 foreigners bought property in Vietnam. In 2014, the Ministry of Construction reviewed the policy on allowing foreigners to buy property in the country and amended the regulations in the Law on Housing. Many apartments in major projects in HCM City like the luxury Centennial Bason, The Grand Manhattan and Alpha City in District 1, with prices between 6,000 USD and 10,000 USD per … [Read more...] about More foreigners buying apartments in Ho Chi Minh City
More foreigners buying apartments in HCM City
Many foreigners are buying property in Viet Nam, especially in HCM City. Most of them are from mainland China, Japan, Singapore and South Korea. — VNA/VNS Photo More foreigners are buying apartments and investing in real estate in Viet Nam, especially in HCM City, with most of them coming from mainland China, Japan, Singapore and South Korea. Ngo Quang Phuc, general director of Phu Dong Group, said that since the amended Law on Housing 2014 took effect in 2015 the domestic property market has seen increased interest from foreign buyers. From 2008 to 2014, only 126 foreigners bought property in Viet Nam. In 2014, the Ministry of Construction reviewed the policy on allowing foreigners to buy property in the country and amended the regulations in the Law on Housing. Many apartments in major projects in HCM City like the luxury Centennial Bason, The Grand Manhattan and Alpha City in District 1, with prices between US$6,000 and US$ 10,000 per sq metre, have been bought by … [Read more...] about More foreigners buying apartments in HCM City
Who are the owners of luxury apartments in District 1?
Who are the owners of luxury apartments in District 1? A view of The Grand Manhattan, a luxury apartment project in downtown HCMC The just-launched Grand Manhattan has become the center of splendor due to its luxury apartments being located in downtown HCMC, which are not easy to own. From international investors Elena Goh, a Singaporean real estate investor, is one of the first owners of apartments at The Grand Manhattan, “HCMC is a market my husband has eyed for ages. So we decided to purchase apartments as soon as the project was introduced to the market. Compared with other property markets which I have invested into such as Hong Kong, apartments in HCMC have a much lower price and profit margins reach 4%-5%, compared to Hong Kong’s 1%-2%.” As an experienced real estate investor, Elena Goh said, “In Hong Kong and Singapore, profit growth of luxury properties tend to be stable. I believe that profits from real estate projects in HCMC, which is an … [Read more...] about Who are the owners of luxury apartments in District 1?
HCMC upscale apartment sales much higher than Hanoi
By Nguyen Ha  October 15, 2018 | 07:26 pm GMT+7 Apartment buildings seen from below in Ho Chi Minh City, Vietnam. Photo by Shutterstock/Thoai Premium and luxury apartments in HCMC are seeing high absorption rates while those in Hanoi get few takers. Realtor Vietnam, an association of Vietnamese real estate developers, said in a newly-released report that the absorption rate of premium apartments in Hanoi was 13 percent in the third quarter, while it was six times higher in HCMC at 78 percent. The gap is even wider in the luxury segment, with the absorption rate in Hanoi at 2 percent and that of HCMC a full 100 percent. Premium apartments are defined as those which cost VND45-70 million ($1,925-2,995) per square meter, while luxury apartments cost from VND70-200 million ($2,995-8,558). “This shows that investors have high confidence in the potential for development of HCMC and expect an increasing number of rich Vietnamese and expats to reside there in the … [Read more...] about HCMC upscale apartment sales much higher than Hanoi
Exceptional demand for luxury flats
With robust economic growth in Vietnam over the past several years, foreigners, especially those from Hong Kong, Taiwan, and mainland China, are driving investment into the real estate market, targeting projects in the heart of Hanoi and Ho Chi Minh City. There is a tremendous upside and opportunity for long-term investment as Vietnam continues its growth, Photo: Le Toan Dung Duong, senior director at CBRE Vietnam shared that luxury apartments with the price of more than $7,000 per square metre have been very attractive among customers. “These projects are all located at the heart of Ho Chi Minh City and Hanoi where the land fund for property development is limited and not many plots are left un-developed,” Dung said. The luxury segment has seen limited supply since there were no new projects launched in the third quarter of 2018. Several luxury projects were sold out in a short time after launch. Some projects registered four times as many offers as the units the … [Read more...] about Exceptional demand for luxury flats
Novaland launches luxury apartments at $6,000 per square metre
Novaland launches The Grand Manhattan apartment project in HCM City’s District 1 at prices starting from US$6,000 per square metre. VNS Photo Viet Nam News HCM CITY – Giant property developer Novaland Group has launched a new apartment project, The Grand Manhattan, in the heart of HCM City. Prices of units in the project, which will come up at the corner of Cô Giang and Cô Bắc streets in District 1, will start at US$6,000 per square metre. Novaland said the condos, to be handed over in the last quarter of 2021, would have two or three bedrooms and smart-home technologies. Besides the usual amenities like a swimming pool and BBQ area, it will also have a park and other attractions on 4,200sq.m of its total area of 14,000sq.m. At the launch, Novaland offered a number of promotions to buyers like free parking space, fully equipped kitchens and a four-day stay at the Azerai Cần Thơ resort. - VNS … [Read more...] about Novaland launches luxury apartments at $6,000 per square metre
Residents suffer from luxury apartments’ poor quality
Poorly constructed apartment buildings in Hanoi and HCM City have become a danger to tenants. Ceiling collapses again after repair Nguyen Manh Hung, a resident of one such building in Cau Giay District said that his family has evacuated the apartment for fear that the ceiling will collapse a fourth time. "The apartment has been repaired many times, but we have the same problem again after just a short while. Last time we were lucky. The ceiling fell right on the bed, but we were not home. The management is well aware of this problem, but they seem to ignore it." In the Hanoi Housing Development and Investment Corporation's apartment building, located in Vong Street, many residents avoid what they call the 'horror elevator', which sometimes stops or goes into free fall. "My family experienced elevator fall three times in one month. If the mechanical break hadn't worked, I'm sure we would have died," a resident complained. The elevators appear to be new and the building … [Read more...] about Residents suffer from luxury apartments’ poor quality
Around 41,000 apartments sold in HCMC last year
The number of apartments sold in HCMC reached roughly 41,000 units last year, almost double that of Hanoi City at 21,000 units, according to the Vietnam Association of Realtors. New apartment buildings are seen in HCMC. The city last year saw bustling real estate transactions, with roughly 41,000 housing units finding buyers Data of the association shows that around 79,000 apartments found buyers nationwide last year, of which about 62,000 units were sold in Hanoi and HCMC.HCMC saw the most transactions, with around 41,000 apartments sold, much higher than the number of new apartments put up for sale at 37,000 units. The reason is that around 4,000 unsold apartments in 2016 also found buyers in the city last year.Medium-priced apartments took the lead with more than 15,500 units sold in the city, followed by luxury apartments with over 12,000 and affordable apartments with 8,500.Meanwhile, according to the association, the number of apartments offered for sale was more than … [Read more...] about Around 41,000 apartments sold in HCMC last year