Carina fire incident led to sharp decrease in newly launched condominium units
In Q2-2018, HCMC real market welcomed an additional 6,109 condominium units, down 36pct on-year. Especially, mid-end segment witnessed the biggest decrease in the new launch, down 62pct on-quarter and 5pct on-year. This situation is probably because the fire incident at the end of March has put a stronger focus on safety measures in condominium projects and made the process of obtaining the relevant safety certificates more stringent. Besides, the government has also limited bank credit going into real estate in order to control the overheating of the market. As a result, developers are expected to look for other sources of funding besides bank loans. In terms of area, the East and the South will continue to be hotspots for H2-2018, especially the Thu Thiem area. Sales momentum will continue to be upbeat; however, developers should focus more on handover quality, facilities, and management quality in order to gain customers’ trust and differentiate themselves from the competition.
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Vingroup enters affordable housing space
Marking its stronger presence in affordable housing sector, Vietnam’s biggest property developer Vingroup has announced its foray into the low-income group housing under the ‘Happy Town’ brand. In its announcement, Vingroup said it will implement housing strategies for low-income people in industrial zones in some provinces and cities nationwide. With this, Vingroup covers all three segments of housing real estate including the high-end segment with brand Vinhomes, middle (Vin City) and affordable (Happy Town).
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Gamuda Land officially accepts Diamond Alnata reservation
On July 8, the investor Gamuda Land officially accepted pre-orders of high-end apartments at Diamond Alnata project located in Celadon City, HCMC. Diamond Alnata is not only a breakthrough of Celadon City of which brand image is attached to being a green township but also a housing product that integrates many modern trends, unique functions, and designs, secluded utilities, providing new experience. Diamond Alnata is also the pioneer in diverse housing models with creative functions, and flexible size ranged from 72-220 square meters, providing many selections to customers.
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Wínk Hotels secures prime location in Danang for its third project in Vietnam
Wínk Hotels, the visionary hotel concept created by Indochina Vanguard Hotels (ICC-Vanguard), today announced the location of Vietnam’s first international-standard hotel chain. The latest $40 million Wínk Hotel will be located in Danang’s business and entertainment district, promising to satisfy the young-at-heart traveler’s contemporary set of desires. The property will offer a new style of entertainment, innovative food and beverage concepts, minimalist-style guestrooms, state-of-the-art technology, and a well-equipped co-working space—a tantalizing hospitality experience that will be the first of its kind in Vietnam.
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Hanoi: land-attached housing market follows downward trend
According to a real estate company, land-attached housing segment is following downward trend. Land-attached housing segment in Q2-2018 recorded new supply of 182 units from four projects: Rose Town, Terraced Lavender, Terraced Itasco and Ecopark Grand the Island. Regarding of prices, 223 units were successfully sold, down 62pct on-quarter and 85pct on-year. The sales decline was mainly due to limited supply. In upcoming time, they forecasted that the market will become lively with many new projects and next phases of existing major projects like Ecopark, The Manor Central Park, or Noi Bai - Nhat Tan smart city. Previously, in Q1-2018, land-attached housing market in Hanoi recorded two-year low sales, with only 450 units from Thong Nhat Complex, Minori Village, and Gamuda Dahlia.
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http://nhipcaudautu.vn/bat-dong-san/ha-noi-thi-truong-nha-o-gan-lien-voi-dat-xu-huong-giam-3324774/
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Pressure comes from the future projects
Last week, many market research companies have released reports and reviews on real estate market in Q2-2018, as well as forecasts for H2-2018. According to an expert, strong housing demand is possible to continue growing toward year-end, especially when home-buyers with real demand seeking property products with reasonable prices and legal ownership. Accordingly, the increased supply of new apartments will affect all segments and meet demand of every customer target.
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