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?
Somerville luxury apartments
CBRE provided figures about apartment supplies in different segments at a seminar on the domestic property market and opportunities for real estate stocks organized by the Ho Chi Minh City Stock Exchange (HOSE) recently. Le Hoang Lan Nhu Ngoc, an executive of CBRE Vietnam, said apartment supplies have shifted noticeably in the past four years with a plunge in new units for medium-income people and a strong rise in luxury housing. For instance, medium-cost apartments accounted 46% of the total supply in Ho Chi Minh City in 2012 but only 26% in the first nine months of this year. In Hanoi, the respective figures were 84% to 28%. Meanwhile, the share of luxury apartments grew from 16% to 36% in Ho Chi Minh City and 4% to 29% in Hanoi in the same period. Ngoc said the apartment segment will keep expanding and attracting more investment given positive impact of economic recovery and market policies. Commenting on the performance of real estate firms in the coming time, chairman of Dat … [Read more...] about CBRE: Luxury apartment supply surges
Sacomreal lures investors with luxury apartment By Dinh Dung - The Saigon Times Daily HCMC - Sai Gon Thuong Tin Real Estate Joint Stock Company (Sacomreal) late last week announced its luxury apartment project in HCMC's District 7 to calm property investors and homebuyers who have invested in the project by buying bonds. The announcement comes when bonds fall due and Sacomreal is rolling up its sleeves to pay back investors who bought bonds at VND1.5 billion each and earned the right to buy one of the apartments upon completion of the project. The project is scheduled to begin in December for completion by the second quarter of 2012. To carry out the project, Sacomreal issued 8-month-term bonds and mobilized some VND750 billion in which bond holders were offered an 8% discount on the total value of one apartment at 8% interest, or 1% per month. Dang Hong Anh, general director of Sacomreal, said that the gloomy property market forced the company to drop its original price of VND24 … [Read more...] about Sacomreal lures investors with luxury apartment
VinaLiving offers luxury apartments in Danang By Dinh Dung - The Saigon Times Daily HCMC - VinaLiving, a new tailored living and lifestyle brand of VinaCapital Group, launched The Azura luxury apartment tower in the central coast city of Danang late last week, offering more options for both homebuyers and investors. The apartment tower is part of the World Trade Center Danang project, which will include a commercial center with shops, restaurants and cafes, a convention and exhibition center and two hotels. The project is being developed by VinaCapital in conjunction with Nordica Properties. The developer says the luxury apartments will be available to foreign buyers under a 50-year lease, and freehold to Vietnamese buyers. The project is expected to be completed in the first quarter of next year. David Henry, managing director of VinaCapital Real Estate Ltd., said that The Azura was one of several current VinaLiving offerings in Danang, along with the Norman Estates, Ocean Villas … [Read more...] about VinaLiving offers luxury apartments in Danang
Limitations in the quality and management of “luxury apartments” projects in recent times have made many people wonder about buying these kinds of apartments. Quality of apartments: chaotic criteria Vu Quoc Khanh, head of the technical department for the Song Da Thang Long Joint Stock Company said that several projects described as “luxury apartments” revealed technical problems. Some projects cannot provide enough space for car parking. Ceiling paints of some new flats have been cracked while public facilities are in a poor condition due to weak management. One of the reasons for this is the lack of legislation and regulations on the management of such projects. Currently, there has been only one directive provided by the Ministry of Construction, which offers guidelines on the quality of apartments. However, this remains limited as it does not protect the rights of clients. Moreover, it has also made it easier for investors to classify their apartments … [Read more...] about “Luxury apartments” – a difficult choice for consumers