World-class real estate charms foreign customers
After the amended Housing Law took effect, which allows overseas Vietnamese and foreigners to buy homes in Vietnam, the market has seen a steady increase in foreign customers who particularly focus on international standard real estate projects.
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According to analysts, while mid-level projects continue to attract Vietnamese buyers, most foreign customers focus their attention on high-end projects of prestigious developers.
A number of such projects in eastern Ho Chi Minh City have become very popular among potential foreign customers.
In the southern area, foreigners also make up a high proportion of customers purchasing high-end projects. Statistics from the Phu My Hung Corp. between end-2015 and the end of the first quarter of 2016 showed a strong increase in transactions of foreign customers.
In particular there was an unexpected rise in foreign customers in the second quarter of 2016. The latest project Le Jardin, for example, recorded the highest foreign customers’ transactions, which made up nearly 30% of all transactions in phase 1 launch day.
The percentage of foreign customers of previous projects, such as Happy Residence or Scenic Valley 2, was between 10% and 15% for each opening.
According to the Phu My Hung Customer Service Center, foreigners from 20 countries and territories make up nearly half of the 30,000 population in Phu My Hung City Center.
The number of foreign residents is increasing further thanks to the positive effects of the Housing Law amendments, newly-signed trade agreements as well as the constant improvements of Phu My Hung master plan. Between 2013 and 2015, the expat population in Phu My Hung increased by 35 percent.
All for quality of life
Le Jardin project also has attracted a great number of expat customers. It was built in Southside District, the most luxury resort-style and beautiful district in Phu My Hung which the investor chose to develop after all the others.
The district is dominated by low-rise residential architecture, including semi-classic villas and a few high-rise buildings, which gives it a consistent look and airy movement.
As a result, most apartments in this area can benefit from a nice and open view and a luxurious landscape.
