Real estate forecasts from experts in the late 2019 to early 2020 period.
In the predictions of the Ho Chi Minh City real estate market in 2020, experts said that there will continue to be unpredictable factors, the world economic situation will directly affect the economy of our country in general and real estate in particular. The biggest challenge in 2020 for the selling price in the apartment, condominium and resort real estate segment would be sustaining the shaky in investor confidence due to the proliferation of “ghost” projects (ghost projects are those that lack construction licenses, or fail to complete construction, but are fraudulently sold while still in the planning phase) or the collapse of new real estate models.
According to Mr. Ha Quang Hung, Deputy Director of Housing Management at the Ministry of Construction, in 2019, the real estate market has about 83,136 successful transactions, down 26.1% compared to 2018, in which the number of resort real estate including tourist apartments and tourist villas has about 6,280 transactions, down 20% compared to 2018. The situation of tourism real estate market in some localities such as Quang Ninh, Da Nang, Nha Trang, Quang Nam, and Kien Giang provinces… is forecasted to continue to slow down and be much less volatile than the period of 2018.
In fact, up to now, according to the figures of the Business Management Registration Department (Ministry of Planning and Investment), in 2019, the real estate sector has seen the highest growth in the number of enterprises registering for temporary suspension and dissolution, at 598 real estate enterprises registering to suspend operations, up 36.8% and 686 real estate enterprises dissolved, up 39.4 % against the 2018 figures.
The real estate market is stagnant, especially resort real estate struggling in the Covid-19 disease.
The real estate market situation is becoming more stagnant when the Covid-19 disease has directly affected many industries including real estate. Vietnam welcomes about 5.8 million Chinese tourists each year and the average expenditure is about 100 USD /person /day. The decline in Chinese customers has also affected the business activities of retailers as well as hotel and resort activities. Nguyen Van Dinh, Deputy General Secretary of Vietnam Real Estate Association, said the declining number of Chinese tourists has made the tourism industry’s 2020 goal difficult to achieve.
The real estate market situation is becoming more stagnant when the Covid-19 disease has directly affected many industries including real estate
According to Mr. Dinh, resort real estate market recently has made customers hesitant when many businesses are inefficient, unable to meet commitments on interest rates. Along with concerns related to legal issues of the condotel makes the market more difficult. Especially when facing the disease shock, this year will be another tough year for this segment.
Green Urban Area has become the first priority
While resort real estate is forecasted to be most affected by Covid-19 disease, some other segments such as residential real estate, industrial real estate are assessed to be less effected. Specifically, recently, SSI, Securities Company, issued a report “Assessing the impact of the Covid-19 disease on industries” showing that, the demand for commercial real estate is not affected by the Covid-19 because the home-buying activity is based on the needs and plans to live in the long term, not related to events such as disease.
In the field of real estate, many projects and products follow the trend of “green space” and “green living environment” with certificates from a variety of sources. The overall goal of these certifications is to reduce the impact of the building on human health and the natural environment through the efficient use of resources, improving employee productivity and minimizing environment pollution.
Living “green” – which is a proven right trend of living around the world with many benefits. Especially with current pollution, climate change, environmental change and disease, a “green” living space is an essential need to ensure the health and quality of life for you and your family.
Living “green” is an essential need to ensure the health and quality of life for you and your family (image source: internet)
The typical green urban area – PhoDong Village – continues to receive the attention as well as the first priority choice of customers.
A proper “green” urban area will include a civilized community of people who have the needs and a sense of the benefits of living “green”, join hands to help build a healthy community both physically and mentally. This has great significance in the current situation of disease prevention.
Moreover, PhoDong Village is a charming landmark in the heart of the crowded East with a construction density of only 24.09% – an impressive figure that is important for the prevention of particular diseases and in cases of spreading.
Therefore, the development of “green space”, deployment of constructing friendly living environment, close to nature as well as the trend of “green” production, business and investment are emerging and received the support of many people as an effort towards sustainable development and preservation of the living condition. This is also an inevitable trend in the context of promoting awareness of life before negative impacts on human.
A proper “green” urban area will include a civilized community of people who have the needs and a sense of the benefits of living “green”
Built on a scale of more than 41 hectares, located at the gateway of East Saigon, near District 2 administrative center, about 500m from My Thuy intersection, easy to move to the city center and neighboring districts, PhoDong Village have helped SCC have outstanding advantages to create a typical luxury real estate products – standardized “Urban area model” in Ho Chi Minh City.
Not only highly appreciated in the criteria of location, design, utilities, connectivity, PhoDong Village urban area also conquered the market with many advantages such as: the high-class infrastructure systems spread over 41 hectares; Professional management system; Potential price increase in the future; synchronous utility services, towards human-being values, community development; and the most special is the advantage of construction quality and handover schedule. SCC strictly commits date of hanging over the property as well as exact time of delivery a House Ownership Certificate (pink book).
Each villa at PhoDong Village is decorated with square, spacious lines showing the elegance, sophistication and optimizing the flexible layout to help the space filled with wind and natural light. Indoor space is well-ventilated with functional areas: living room, dining room, kitchen, and bedroom … interconnected and harmonious in the same overall space, many windows, close to the nature.
It can be said that, based on the objective situation on the needs and trends of the real estate market, projects that meet all 3 criteria: “free and clean” land – green living environment – transparent legislation will have the best opportunity to be launched in 2020. (“Free and clear” land means there are no encumbrances secured to the property such as a lien or mortgage…)
PhoDong Village fully meets 3 criteria: “free and clean” land – green living environment – transparent legislation is the top concern and priority in 2020
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On August 27th, 2020, Saigon Construction Corporation Company (SCC) – the Developer of The high-class Compound Sol Villas held a handover ceremony for the first phase of House Ownership Certificates to 39 residents according to the committed schedule. Although the Covid-19 epidemic has been complicated since the beginning of the year, many residents are worried […]
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