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
High-end apartment prices still lower than regional peers
High-end apartment prices in Ho Chi Minh City and Hanoi are generally still lower than regional peers such as Kuala Lumpur and Bangkok, despite much stronger growth rates in Ho Chi Minh City when compared with these markets, according to Mr. Neil MacGregor, Managing Director of Savills Vietnam. New high-end apartment prices in Ho Chi Minh City’s CBD now average around $5,500 to $6,500 per sq m, a fraction of the eye-watering levels seen in Hong Kong, where prices are at all-time highs. “Many countries are also introducing cooling measures, resulting in higher taxation, so the relatively low taxation in Vietnam appears increasingly attractive to buyers both at home and abroad,” Mr. MacGregor said. “It’s not surprising therefore that demand for investment properties in Vietnam has increased significantly since 2015, when the new housing law opened up the market to international investors.” He added that with a distinct shortage of prime … [Read more...] about High-end apartment prices still lower than regional peers
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
HCMC 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 More high-end apartments for rent have reduced returns on investment in HCMC, real estate professionals say. Duong Thuy Dung, senior director at real estate market research firm CBRE Vietnam, said at a recent forum that HCMC was estimated to receive 40,000 new apartments in the 2018-2020 period, 60-70 percent of these in the high-end segment. About 60-70 percent 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 HCMC’s District 2, often the highest earners in the city, has fallen from 7.5 percent last year to 6.5-6.7 percent now. The same is happening at Binh Thanh District, where they have dropped from 6.8 percent last year to 5.5 percent now. A CBRE report notes that real estate purchases for occupation have decreased this year. Instead, investors … [Read more...] about HCMC rental returns down as investors dominate purchases