As noted by Panorama Real Estate, many projects in the luxury segment announced for sale in the third and fourth quarter of 2021 all recorded good absorption. Some projects even sold out before the opening ceremony.
For example, the Define project of a foreign investor has just recorded the transaction status of all apartments in the shopping cart. The 3-4 bedroom apartments in the project are booked at an average price of 125 million VND/m2 and all apartments are booked for over 23 billion VND (1 million USD).
In which, the 4-bedroom apartment on the 24th floor recorded the price of 150 million VND/m2 (US$6,500/m2). The project is 26 floors high, located on Thanh My Loi street, but only provides 88 apartments. Corresponding to a limited number, each apartment here has an area of 197-528m2. The most expensive product in the project is a penthouse with a price of up to 83 billion VND, equivalent to nearly 4 million USD.
This is the first and only project in Vietnam that currently has the most swimming pools and is also a rare project with 100% of apartments with a direct view of the Saigon River. Define is managed by Ascott The Residence, the most luxurious brand in The Ascott Limited, specializing in serving the world's leading business and political customer community. Very few projects are associated with this brand, not only in Vietnam but also in the world.
100% of Define million dollar apartments are sold out in one day.
A month earlier, the Hanoi market also recorded a case of several million-dollar apartments at the Ritz-Carlton project sold out before a one-day opening ceremony was held. The "shocking" factor is that these apartments have a record price of more than 600 million VND per square meter. The most expensive apartment here is about 170 billion VND, equivalent to nearly 8 million USD, also found the owner.
In the southern axis of the city, located in the center of District 7, The Peak Garden - the health care apartment product line also received an excess of orders, prompting the investor to push the duplex product line early with a high price. worth tens of billion dong to the market.
Recently launched real estate projects in the East of the city, such as The 9 Stellars, Thao Dien Green in Ho Chi Minh City, despite their high prices exceeding the ceiling, have received good absorption when they are first opened for sale. .
Not only 'burning' in quantity, luxury apartment lines also increased in price. Despite the significant effects of the Covid-19 pandemic, for example, some luxury apartments in Hanoi and Ho Chi Minh City have special locations and centers, most of which are offered at prices above 500 million VND/m2, Some places even reach nearly 1 billion VND/m2.
Know how to 'pamper' the rich
According to experts, the luxury apartment market for many years has continuously grown in proportion to the increase of the new class of millionaires. According to Knight Frank's report, it is forecasted that by 2023, the number of millionaires in Vietnam will increase to 15,776 people, an increase of 31% compared to the period in 2018.
"The demand and willingness to pay of this class is increasing, especially for a place to settle down after the impact of the Covid-19 epidemic," an expert said.
Analyzing from the seller's perspective, according to Mr. Nguyen Tan Vinh - General Director of Dat Xanh Premium, good liquidity in the time of the pandemic is also because many investors have taken advantage of the primary supply stage at a low level. low and buyers' demand is being "suppressed" to actively unpack.
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The several million dollar apartments at the Ritz-Carlton project sold out a day before the opening ceremony. "Some investors also see opportunities when investors both take profits from stocks and seek shelter when they fear economic fluctuations," Vinh said.
Mr. Vinh further emphasized, it is important for the owners to understand the problem that the market is needing to solve in order to come up with a suitable solution. Investors must understand the audience they are targeting, how their habits and behaviors will change to come up with an appropriate business plan. If the customer file is a foreigner, they cannot fly to the announcement ceremony, they must have flexible payment policies... If the customer file is middle-aged, has high income, health facilities, quality amount of material... must be appreciated.
Earlier, talking to the press, Mr. Vo Huynh Tuan Kiet, Director of CBRE Vietnam's Consulting and Transactions Department admitted that there were a number of high-end and luxury apartment projects recently launched into the market. Very good account despite the high price. These projects all have a very small basket of goods, ranging from around a hundred apartments and possessing a prime location in the urban center.
According to Dr. Su Ngoc Khuong, Senior Director, Investment Department of Savills Vietnam, a very clear feature is that the luxury and luxury real estate segment is not for investors who want to surf. and using financial leverage because secondary liquidity is not easy. The customer base of this product line is usually quite rich in cash, so any project with the right product and a reputable investor is a fairly quick transaction," said Mr. Khuong.
By Real Estate Landscape