Capital property deals on offer

Strenuous efforts from property developers in sharing bank interest rates to prospective buyers have contributed to ameliorating realty market liquidity.

Director Nguyen Quoc Khanh at DTJ real estate transaction centre - the distributor of Indochina Plaza Hanoi (IPH) complex - said customers had decided to ink purchase contracts after the developer hooked up with local giant Vietcombank offering prospective buyers a zero per cent interest rate loan package and the distributor offered customers 20 per cent interior package value.

At the Dream Tower apartment project in Hanoi’s Tu Liem district from June 1 to July 24 parallel to the 12 per cent interest rate per year concessionary credit package with 70 per cent of contract value, prospective buyers could get a smart Vespa scooter from distributor Northern Green Land Real Estate and Services Joint Stock Company.

With solid construction pace and affordable pricing averaging VND1.5 billion ($71,500) per apartment dozens of customers had signed purchased contracts.

The capital city’s property market has brightened from late second quarter with a string of new properties coming onto the market like Nam Do Complex apartment block in Hoang Mai district by developer GP Invest, Hoa Binh Green City complex and Skyline tower in Hai Ba Trung district.

Buyers at these projects are benefiting from a 5 to 10 per cent interest rate subsidy.

Director Nguyen Quoc Hiep at GP Invest, developer of Nam Do Complex, said the developer and design consulting unit had decided on building smaller housing units targeting young couples. The firm also inked a contract with banker BIDV to give prospective buyers a loan package with 8-9 per cent interest rates per year only.

“Through supporting customers in a practical manner our project got positive feedback shown in markedly surging successful transactions in the past two months,” said Hiep.