“Difficulties had remained since the pandemic was contained until the first quarter of 2022, but the real estate market has seen positive signs of recovery,” said Mr. Trung Le Tan, Chairman of Bao Khang Investment Construction Co., Ltd (Bao Khang Company in short)
Bao Khang Company is the exclusive developer of housing products invested by Pau Jar Group in Vietnam, including the COSMO City project in the Cityland Riverside residential area at No. 99, Nguyen Thi Thap Street, District 7, Ho Chi Minh City. Mr. Trung Le Tan commented about the real estate market and shared about the project which his company is distributing in a talk with us.
What do you think about the real estate market now?
The current real estate is affected by the pandemic, the war, and a hike in interest rates, all adversely affecting the buyer’s psychology and influencing the demand. However, valuable projects with good liquidity are still attractive to investors. The market’s movement is steady albeit slow.
According to you, what type of project will attract buyers in the current period?
The apartment segment. In addition to such criteria as the location, the investor’s capacity, the project’s legality and construction progress, and the payment arrangement, the selling price is a decisive factor. The selling price must match the value of property. With the current status, investors tend to look for safe investment havens like gold and real estate. Apartment projects having been completed with house ownership certificates readied will attract buyers because of safety and passive income from renting. Here, I see two groups of buyers, with one group buying for investment and the other group buying for staying. The investment group cares more about the liquility, correct valuation, and the prospect of rising price. For the group who buys for staying or renting, we should consider the quality of construction, amenities for daily need. Especially, the intellectual level of the community is also an important factor.
If so, which group of buyers will COSMO City attend to?
The COSMO City project attends to the group who buys for staying and renting. Homebuyers can move in immediately, or can rent immediately to recover the capital. The buyer can experience the project by coming to see the actual house to have the most objective view of their property.
Ho Chi Minh City is the most populous city in the country, and the demand for housing is increasing while the supply is limited, especially in the core area of the city. COSMO City, located in a prime location in Saigon South, is an existing project with a busy commercial center spanning three floors will be the right choice for most customers. With the advantage of proximity to the center of Phu My Hung urban area, and near international schools, the project boasts high rental potential. For those buying for rent, Bao Khang Company commits to lease back for 18 months. Bao Khang’s rental partners are teachers and students of Fulbright International School (USA), and this policy helps customers feel more secure when investing in the apartment.
What factors are decisive for a project to attract buyers for staying and for investment.
The first factor is the completion of the project. COSMO City is a project whose construction has been completed, and buyers can come to see with their own eyes. COSMO City’s motto in sale is “seeing and touching is believing”. We always place ourselves in the buyer’s position to bring the optimal experience to our customers.
The second factor is legality. All apartments have had house ownership certificates readied. Customers can have absolute safety. The project can arrange loans for homebuyers from most banks at up to 70% of the value because it is not affected by the policy of tightening real estate credit, and the payment period is up to 25 years.
The third factor is the payment method. Customers can receive the house after a 30% payment, and with the house furniture and electric equipment provided, customers don’t need to buy anything more. The balance of 70% will be paid later within 33 months without interest rate, or customers can pay earlier to receive a discount.
The fourth factor is the selling price. With the price of only VND45 million a square meter, customers can immediately own a fully furnished apartment in the center of District 7. While most of the newly launched projects are sold for VND55-65 million/m2 with the handover after 2-3 years, the selling price of COSMO City is worth considering.
In your opinion, what is the biggest advantage of COSMO City?
Customers owning COSMO City apartments will own the homes of their will. Specifically, customers can work with COSMO City’s design and construction team for ideas from design styles, options of color for each wall, each brick, the layout and interior arrangement to the selection of equipment inside each apartment… At Bao Khang, we only sell apartments tailored to the “style” of owners.
Investor: Pau Jar Group
Project Developer: Bao Khang Investment Construction Co., Ltd
Hotline: 096 996 3536