Foreigners opt for Happy Residence since it is situated near urban green spaces. C block has a direct view of the park, which has attracted interest from many potential buyers. — VNS Photo

Housing developer - Phu My Hung Development Corporation will launch the third phase of its Happy Residence project on December 19.

Mr Truong Quoc Hung –Vice President of Phu My Hung Development Corporation speaks about the project and why many customers like Happy Residence .

Your company plans to start the third phase of sales of Happy Residence on Saturday. Can you provide some details?

Mr Truong Quoc Hung

Happy Residence is the 37th apartment project of Phu My Hung Development Corporation. It is situated in the Southside District in Phu My Hung and has a total area of nearly 9,600sq.m and 554 condos.

We have organised two phases launche. The third phase with 135 apartments in block C will open this weekend. Each apartment offered this time overlooks a 9500-m2 park as well as the Chateau Villa area and river.

Having two or three views is the specialty of block C apartments. Besides, buyers can see the common public facilities on the second floor.

Around 60 per cent of the apartments in block C range from 71sq.m to 76sq.m. The rest have three bedrooms and measure 91sq.m.

Foreigners opt for Happy Residence since it is situated near urban green spaces. C block has a direct view of the park, which has attracted interest from many potential buyers. — VNS Photo

We are expecting good results in the third phase like we did in the first two phases.

In the first phase in October, 99 per cent of 142 apartments were deposited. In the second phase, the success rate was 95 per cent for 135 apartments with customer numbers greatly exceeding the number of apartments.

Many customers who had booked apartments in the first phase had recommended their friends and relatives to join the second phase. Eighty per cent of customers who did not get a chance to buy in phase one came back for the second phase.

Happy Residence came into the market at the same time as the new law permitting foreigners to buy housing took effect. Do foreigners show interest in your project?

While designing the project, we targeted both domestic and foreign clients. We are very happy that many foreigners love it, which is clearly proved by their participation in the first two phases launch.

Some 20 per cent of the 600 customers who came for the second phase were foreigners from the US, Australia, and other Asian countries.

Around 25 per cent of customers attending the event won the right to book an apartment are foreigners. This scale was much higher than that in the first phase.

Phu My Hung has the advantage of overall planning since beginning so that all functions and utilities needed by residents are available within walking distance. — VNS Photo

Permitting foreigners to buy apartments and houses has resulted in a big opportunity for property developers. However, not all of them have explored this market well.

Selling apartments to foreigner is a kind of spot export. To do that, a real estate developer has to be strong enough. The reason is that consumers are now clever. Though there are many different choices, they know how to choose the best.

Foreigners have more requirements because they pour money into a country that is not theirs.

Along with legal and procedural support, it is the reputation and strength of the developer that help them attract foreigners. That is the reason why many foreigners like our project.

You mentioned that foreigners have greater requirements. So how did your company develop Happy Residence to meet their demands?

Firstly, I want to reaffirm that Phu My Hung City Centre has been developed to international standards. It offers local citizens all facilities and services like banking, healthcare, education, and entertainment.

The security and green environment as well as many spaces for children to play are loved by foreigners. — VNS Photo

People living in our centre are highly educated and 50 per cent of the residents are foreigners.

All projects in our city centre meet international standards, and Happy Residence is not an exception.

Happy Residence 's attractiveness is not a chance occurrence.

Within 40 days 97 per cent of apartments blocks of A and B were deposited.

We polled customers, and they said infrastructure, transparent information, developer reputation, investment opportunity, location, and the architect were the main reasons they were persuaded to buy at Happy Residence

All projects in our city centre meet international standards, and Happy Residence is not an exception. — VNS Photo

In terms of infrastructure, there are many projects planned to develop the south of HCM City, including widening of Nguyen Huu Tho Street, building a metro line from District 12 to Nguyen Van Linh Boulevard, and the Ben Luc – Long Thanh National Highway.

It is very near schools, hospitals, financial services, and entertainment centres.

Like other projects in Phu My Hung City Centre, Happy Residence provided customers very clear information.

The instalments are very flexible with support from many lenders like Vietcombank, VIB Bank, Sacombank, and Eximbank.