The Grand Manhattan, which has been introduced to the market half a year ago, keeps the luxury property segment hot thanks to its dual benefits of rising prices and high rental yields in the future. The Grand Manhattan boasts a frontage onto Co Bac Street and Co Giang Street in the heart of District 1 Prospects of rising prices According to a report by CBRE Vietnam, the entire Ho Chi Minh City only has around 400 luxury apartments priced from $3,500-7,000 per square metre, mainly concentrated in the heart of District 1, accounting for a humble rate of only 0.3 per cent of the total apartment supply (nearly 160,000 units). The luxury segment is heated up with new projects like The Grand Manhattan, which was launched by Novaland at the beginning of this year. The complex comprises of three 39-storey apartment buildings with four underground floors. It is being built on an area of 1.4 hectares, supplying 1,000 luxury apartments with long-term ownership for homebuyers. As land is … [Read more...] about Dual benefits of investing in luxury apartments in District 1
Apartment rental ho chi minh city
Homeowners of million dollar apartments at The Grand Manhattan
After its recent launch, The Grand Manhattan by Novaland has emerged as an ideal destination for the elite in both Vietnam and foreign countries by offering a luxury living environment at the heart of Ho Chi Minh City. The Grand Manhattan creates a refined living environment for both local and foreign residents at the heart of District 1 From experienced foreign investors… Elena Goh, a property investor from Singapore, is one of the first homeowners at The Grand Manhattan. She and her husband have been following Ho Chi Minh City’s real estate market for years. At the launch of the project, they quickly made up their mind without hesitation. The main reason is that the price of high-end apartments in Ho Chi Minh City is much lower than in other markets like Hong Kong. Meanwhile, rental yields in the city can reach 4-5 per cent, compared with the 1-2 per cent in Hong Kong. With extensive experience in property investment, Elena Goh shared, “High-end … [Read more...] about Homeowners of million dollar apartments at The Grand Manhattan
HCM City rental returns down as investors dominate purchases
Investors buy most of of high-end apartments in Ho Chi Minh City. CBRE Vietnam said. Photo by Shutterstock/Efired Duong Thuy Dung, senior director at real estate market research firm CBRE Vietnam, said at a recent forum that Ho Chi Minh City was estimated to receive 40,000 new apartments in the 2018-2020 period, 60%-70% of these in the high-end segment. About 60%-70% of the high-end segment are being bought by investors who look to rent them, she added. Rental returns have decreased as a result, Dung said, adding that the rate in Ho Chi Minh City’s District 2, often the highest earners in the city, has fallen from 7.5% last year to 6.5%-6.7% now. The same is happening at Binh Thanh District, where they have dropped from 6.8% last year to 5.5% now. A CBRE report notes that real estate purchases for occupation have decreased this year. Instead, investors account for 61% of buyers in the high-end segment, higher than last year’s 50%. The number of occupiers, meanwhile, … [Read more...] about HCM City rental returns down as investors dominate purchases
Ho Chi Minh City encourages environment projects
HCM City has called for investment in environmental protection projects from now through 2025 and announced incentives for such investment as it seeks to resolve certain problems soon. A waste-burning facility at the Go Cat landfill in HCM City’s Binh Chanh District. VNS File Photo. A spokesman for the Department of Natural Resources and Environment said some 8,900 tonnes of solid wastes are collected daily in the city and treated at the Phuoc Hiep waste treatment complex in Cu Chi District and Da Phuoc Waste Treatment Complex in Binh Chanh District, with 69 per cent being buried and the rest burnt and recycled. The volume is set to increase by 5 per cent a year to 10,081 tonnes per day in 2020 and to 12,864 tonnes per day by 2025. City authorities have called on investors to set up two more solid waste treatment units using recycling technology capable of handling 2,000 tonnes a day at the Phuoc Hiep Solid Waste Treatment complex in Củ Chi District. They will … [Read more...] about Ho Chi Minh City encourages environment projects
Vibrant Q1 for HCM City’s apartment segment
Ho Chi Minh City’s apartment segment witnesses high absorption rate in the first quarter of the year. (Photo: VNA) HCM City (VNA) – Ho Chi Minh City’s apartment segment witnessed high absorption rate in the first quarter of the year despite the long Tet holiday and abundant supply, the property service provider CBRE said on April 3. A total of 9,260 units were sold during the January-March period, up 4 percent from the previous quarter and surging 26 percent against the same time last year. Of the total, mid-end apartments accounted for 65 percent. In terms of pricing, the average sales price slightly fell 1.5 percent quarter-to-quarter while declining 2.6 percent year-on-year to 1,515 USD per square metre in the primary market. The drop was attributed to the increase in mid-end apartment supplies in the period. The city’s real estate saw the launch of 9,503 apartments, up 11 percent from the previous quarter and 79 percent from the same period last … [Read more...] about Vibrant Q1 for HCM City’s apartment segment