Property Developers in Vietnam are looking for new ways to survive what is expected to be a gloomy property market in 2012.
Among the 35,000 apartments completed before 2011 in Ho Chi Minh City, around 37 per cent classified as high-class, 38 per cent as medium-cost and 25 per cent as low-cost. Local traders say housing demand remains huge, especially for the medium-cost segment in big cities. The dip in the property market over the past 4 years has eroded the confidence of individual secondary investors. A number of investors have managed to focus on medium and small-sized apartment projects, and adjusted existing schemes to meet the actual needs of consumers.
Saigon Thuong Tin Tan Thang Investment Real Estate Joint Stock Company (TTJSC) last week started marketing its Celadon City condo project covering over 82 hectares with about 7,000 units in Ho Chi Minh City’s Tan Phu District. To keep up with the needs of consumers TTJSC reduced the area of each apartment from 90 square meters to 65 square meters.
Phat Dat Property Development Corporation are looking outside the property market and plan to invest in agricultural and tree planting projects. This new investment in rubber cultivation promises higher returns under current circumstances. The development of the agricultural industry is something that is being encouraged by the government and Phat Dat expects to break even after 6 to7 years.
The agricultural sector does not promise as high or quick returns on investments compared to the property sector but it is valued for its stability.
by Property Report
Among the 35,000 apartments completed before 2011 in Ho Chi Minh City, around 37 per cent classified as high-class, 38 per cent as medium-cost and 25 per cent as low-cost. Local traders say housing demand remains huge, especially for the medium-cost segment in big cities. The dip in the property market over the past 4 years has eroded the confidence of individual secondary investors. A number of investors have managed to focus on medium and small-sized apartment projects, and adjusted existing schemes to meet the actual needs of consumers.
Saigon Thuong Tin Tan Thang Investment Real Estate Joint Stock Company (TTJSC) last week started marketing its Celadon City condo project covering over 82 hectares with about 7,000 units in Ho Chi Minh City’s Tan Phu District. To keep up with the needs of consumers TTJSC reduced the area of each apartment from 90 square meters to 65 square meters.
Phat Dat Property Development Corporation are looking outside the property market and plan to invest in agricultural and tree planting projects. This new investment in rubber cultivation promises higher returns under current circumstances. The development of the agricultural industry is something that is being encouraged by the government and Phat Dat expects to break even after 6 to7 years.
The agricultural sector does not promise as high or quick returns on investments compared to the property sector but it is valued for its stability.
by Property Report
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