Nam Long offers practical financial solutions for Mizuki Park buyersLE VY
Housing prices have relentlessly risen to new highs, making it difficult for many people to buy one. Realising that, a number of businesses with deep pockets are offering practical solutions to enable them to realise their dream of owning a house.
According to JLL, only 3,820 units were launched in HCM City in the second quarter of this year, or just one third of the quarterly average in 2017-18. Around 83 per cent of the 3,855 apartments that changed hands during the quarter was in the mid-priced segment.
Despite difficulties posed by the Covid-19 pandemic, their prices increased by 3 per cent from the previous quarter, while some luxury projects saw their prices rise by 5.3 per cent quarter-on-quarter and 27.5 per cent year-on-year. Most projects offered for sale in the city are priced at VNĐ35 million (US$1,516) per square metre. There is almost no new supply in the low-priced segment. Some projects in the city’s neighbouring provinces such as Bình Dương and Đồng Nai have reached prices of VNĐ 40-42 million ($1,732-1,819).
Opportunity to ‘buy a house without difficulty’
With the short supply, many people tend to opt for apartments that are far from the city centre and have more reasonable prices.In return for that, they enjoy many amenities, a fresh air and guaranteed security. The distance gradually becomes a secondary factor once infrastructure is gradually improved and the travel time is significantly reduced.
Projects recently launched in the market have improved designs, not only ensuring aesthetics but also maximising the apartment area and optimising function of apartments. Many high-end facilities such as schools, medical centres, supermarkets, shopping malls, swimming pools, gyms, parks, and restaurants – coffee shops, are also integrated into projects to help improve the quality of life of their occupants.
Perspective of MP6, MP7 and MP8 blocks at the Mizuki Park township by Nam Long, which offers the “Housing savings in 2020” programme
Besides, developers also collaborate with credit institutions to offer loans on easy terms including extended tenors to support home buyers. Nam Long Investment Corporation has, for instance, just announced the Housing Savings Programme in co-operation with Vietcombank, which has interested many customers. The programme is applicable to 600 apartments in three blocks, MP6, MP7 and MP8 (Flora product line) at the 26-hectare Mizuki Park township on Nguyễn Văn Linh Avenue, South Saigon. People wishing to buy an apartment can, instead of paying the developer to book a unit, open a savings account at Vietcombank under their own name and get the regular interest until the company begins sales. Customers can close their savings account at any time, but if they choose to buy, the amount in the account will be converted into a deposit for an apartment when sales begin. More than 2,500 customers participated in a similar programme by Nam Long in 2018 and 2019 when they bought at Akari City and Waterpoint projects.
Mizuki Park is being built by Nam Long and Japanese corporations Hankyu Hanshin and Nishitetsu Group, who have over 100 years of experience and strong financial status. At the time of sales, if people choose an apartment, they will only pay 50 per cent until the fourth quarter of 2022 and in easy instalments, meaning it is highly suitable for those wishing to buy a house to live in but need some time to raise funds. This is the second largest project on Nguyễn Văn Linh Avenue after only Phú Mỹ Hưng. The highlights of the township are its complete utility system that includes 17,000sq.m of canals weaving throughout, 2.5km of bike paths, 103,000sq.m of greenery, theme parks for families and children, bonsai, space for meditation and events, a 40,000sq.m school, 15.000sq.m commercial space, a sports centre, and healthcare and entertainment amusement areas.
Importantly, many large public works are under construction in the project area such as metro lines 4A and 5, monorail No.2, Thủ Thiêm Bridge 4, Kênh Tẻ 2 Bridge, and the Nguyễn Văn Linh-Nguyễn Hữu Thọ intersection that facilitate travel to the city centre, which means great potential for price appreciation in the near future. Nam Long handed over 1,500 apartments, townhouses, villas, and utilities in the first phase of the project, and their prices have already increased by around 30 per cent in the secondary market. Blocks MP6, MP7 and MP8 to be launched are situated at the edge of the canal, adjacent to the Event Park and Japanese garden, which, together with the Housing Saving programme, make them very attractive to many prospective customers.
(Source: Nam Long Group (Hose: NLG))