HCM City: Developers look to youths
Young buyers make up a promising segment for the HCM City real estate market because of the high rate of migration to the city and rapid urbanisation, a conference on the housing market heard on October 13.
Economist Dinh The Hien said Ho Chi Minh City attracted many skilled workers whose incomes are higher than elsewhere in the country.
Him Lam Land, also changing its business strategy this year, has announced it will focus on this segment.
The company will bring 2,000 apartments into the market this year.
Ngo Quang Phuc, its deputy general director, said: “All the apartments will be priced at VND1-VND1.5 billion. They are located on Pham Van Dong, Hanoi Highway, Song Hanh and Vo Van Kiet Boulevard.
“We decided to expand this segment because young customers have actual need [for housing] demand and are knowledgeable and skilled [and will earn plenty of money],” Phuc said.
Other companies like Nam Long have also launched many projects, including Dream Home Palace, to meet demand from this segment.
According to developers, though prices are lower, the quality of apartments coming into the market is good with full facilities including pools, gymnasiums and playing yards besides good management and security.
The competition in the market is tough now and customers stand to benefit from this, Phuc said.
