Along with the increasing demands of consumers, the real estate market is witnessing a sharp shift in investor’s taste. Gone are the days when buyers only cared about price per square meter, now, luxury real estate that focuses on green areas and utilities are mastering a volatile game.
“Stars change the throne” in the real estate market
Five years ago, social housing, affordable apartments… were the most mentioned phrases in the media when most people paid a lot of attention to this segment. In the past few years, although the demand for the affordable segment is still large, investors tend to move strongly to the high-end real estate segment.
The data of batdongsan.com.vn shows that, despite the market being affected by the epidemic, the level of interest in apartments in Ho Chi Minh City is still increasing in all segments, in which the highest search volume is luxury apartments. Specifically, in the second quarter of 2020, the amount of interest in buying apartments in Ho Chi Minh City increased by nearly 32%, of which luxury apartments increased by 38%, leading the market in terms of searched products.
According to batdongsan.com.vn, in the first 10 months of 2020, there were 6,722 future housing products offered for sale, in which there are 4,876 high-class houses, accounting for 72.5% of the supply while affordable apartments only stop at 163, accounting for 2.5% of the total supply. Notably, products in the high-end segment are absorbed by the market wherever they go. DKRA’s Q3 2020 real estate market report indicates that, in this quarter, the Grade A segment accounted for 87.2% of new supply, while Grade A consumption was also the highest compared to other segments with 4,537 units.
“Many people claim that there is a supply-demand mismatch with luxury real estate, but that’s not the case. In the context of strong urbanization and environmental problems, consumers are getting smarter in choosing living spaces. They are willing to spend more money to have more green, fresh and comfortable living space,” an investor explained.
High-class apartments – Quality comes with a quantity
According to batdongsan.com.vn, the number of households choosing to buy apartments to live in big cities across the country has increased nearly 1.6 times compared to a decade ago. Particularly in big cities like Ho Chi Minh City, the percentage of households living in apartments increased by 67%, higher than in other cities in the country. Among segments, interest in high-end apartments in Ho Chi Minh City increased by 7% this year, while the mid-end and affordable segments both decreased by 4% and 7%, respectively.
According to experts, in the segments, high-end apartments with strong investment in green space and utilities will still be the products with the strongest investment despite needing more capital.
The perspective of King Crown Infinity project
“The construction of green buildings, on average, will require an increase in investment capital of about 3 – 8% compared to the conventional investment, but green buildings will save 15 to 30% of the energy used, will reduce about 30 – 35% carbon emissions, save 30% – 50% of water use and from 50% – 70% of waste treatment costs. Green buildings will contribute to the conservation of resources, being environmentally friendly, low cost of use, ensuring the health of users, and the long life of the building” an expert in the field of urban architecture commented.
Recently, in the central area of the Thu Duc district, there has also been a luxury apartment project with a “huge” investment in green space and utilities. For the first time in Vietnam, a classy project with an indoor pedestrian street inspired by Japan’s Nam Ba Park, will bring to the luxury real estate segment a new look with a green architectural complex combined with a hanging garden with a three-sided view of the river. In addition, the commercial podium of the project is built with high-strength and environmentally friendly fiberglass-reinforced concrete, making the project not only green outside but also in design, raising the value of life and assert a personal touch to the property owner.
Located at 218 Vo Van Ngan, Binh Tho Ward, Thu Duc District, King Crown Infinity luxury apartment and commercial complex is developed by BCG Land Joint Stock Company – a member of Bamboo Capital Group. Expected to be handed over in 2023, King Crown Infinity is expected to become a new symbolic work of the Creative Urban Area in the East of Ho Chi Minh City. Customers interested in the project can visit the website www.kingcrowinfinity.com.vn or contact the hotline for detailed advice: 090 383 9998
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