REAL ESTATE IN THE LAST MONTHS OF THE YEAR: WHICH PROJECTS ARE STIRRING UP THE MARKET
At the end of the year, the real estate market becomes more
active as investors flock to “premiere” their real estate products. The
apartment supply is plentiful and customers have more choices, but not all
projects meet customer demand.
Stable apartment market
According to a report by Savills Vietnam, in the third quarter
of 2017, the number of successful transactions involving the sale of apartments
decreased by 17 per cent compared with the previous quarter, with some 5,660
apartments sold, even as selling prices also decreased in most segments.
However, experts predict that in the latter months of the year,
especially at the time of the Lunar New Year, the real estate market will see
more significant changes as customers often choose to buy a new house at this
time to welcome the New Year, hoping for luck and fortune in their dream home.
Therefore, real estate transactions in all segments in the last
months of the year see a significant increase against the beginning of the
year. That is why the end of the year is always a time when investors race to
launch their property products.
Many incentive programs, such as lucky draws and gifting
motorcycles, televisions, refrigerators, and even cars and overseas tours, are
also introduced to attract the attention of customers.
Which project will "conquer" the
customer?
When supply is abundant, home buyers have more choices.
Therefore, projects with reasonable prices, convenient location, full benefits,
and attractive incentives receive special attention.
Regarding the high-end property market in Hanoi, especially in
urban districts such as Thanh Xuan, attention is currently focused on a luxury
apartment project recently introduced by TNR Goldseason, called 5 Seasons.
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| 5 Seasons is a prominent high-end project in the heart of Thanh Xuan district |
5 Seasons has a golden location right in the heart of Thanh Xuan
district, ideally connected with many modern infrastructure facilities. In
particular, 5 Seasons will enjoy a great advantage after the elevated railway
system is put into operation in early 2018.
Traffic jams will be significantly reduced and the living
conditions of the people in the area will become more convenient. Landlords
can, therefore, take advantage of the opportunities to set higher rental prices
in comparison with other places.
Nestled in the TNR Goldseason complex, 5 Seasons has inherited a
vast green space, with 1,600 square meters of Manhattan Oak. The apartments at
5 Seasons are designed to get as much sunlight as possible.
With the desire to introduce the American lifestyle in Vietnam,
the owner of 5 Seasons has set up a luxury hotel-standard system for the
project. Besides this, future residents of 5 Seasons have the privilege of
using nine utilities free for their lifetime—tropical pools, gym and yoga,
sauna and jacuzzi, and recreation room, as well as children's play room, meeting
room, seminar room, library, and modern reading room.
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| The spacious, airy tropical swimming pool at 5 Seasons |
In addition, 5 Seasons offers its residents a series of 5-star
services, such as reception, round-the-clock security services, free Wi-Fi in
the lobby area, laundry, room clean-up, and business services.
Currently, an apartment with civil work under the 5 Seasons
project is priced at $1.2 billion, while an apartment with complete interior
furniture costs $1.6 billion. These prices are considered low for a project in
the heart of Thanh Xuan district. Moreover, if a customer pays 100 percent of
the apartment value, he/she will receive a discount of up to 6.6 percent on
the purchase.
As revealed by the developer, the volume of transactions in
phase one of 5 Seasons was higher than expected. Currently, the project is
being constructed up till the eighth floor and is expected to welcome residents
in March 2019.
"Source: Vietnam
Investment Review"
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