3-bedroom condos scarce in HCM City, to become hot cakes

Tuesday, Apr 11, 2017 11:30

Demand for three bedroom condominiums is set to surge in HCM City thanks to the convenience and the high profits they offer, experts have predicted.

A report said that since 2014 developers have brought 110,000 condos into the city property market, some 30 per cent of them with three bedrooms ranging in size from 80sq.m to 100sq.m.

Another 60 per cent are two-bedroom condos measuring around 65sq.m, and the rest are one-bedroom units and others.

According to experts, for a condo with three bedrooms, 100sq.m is the ideal size suitable for a sustainable development trend of Vietnamese families in which they live with their grandparents or baby-sitters.

But it is notable that many developers have reduced the size of three-bedroom condos to around just 80sq.m. The number of condos with three bedrooms and measuring around 100sq.m is limited.

As the size reduces, so does convenience because then the size of each room is very small.

Crystal-gazing experts said the market would soon face a shortage of three-bedroom condos measuring around 100sq.m.

They said those developers building such condos are the intelligent ones because their prices are sure to jump in future due to the dwindling supply.

Saigon South Residences wins market

Saigon South Residences is a clear example of the high demand for three-bedroom condos.

Sold since October last year, the project, the first that Phu My Hung Development Corporation developed outside its Phu My Hung City Centre, has attracted plenty of buying interest.

Over four sales phases, nearly 1,500 units have been sold, more than a third of them being three-bedroom condos measuring from 94sq.m to 104sq.m.

After four successful phases of sales of its Saigon South Residences, with the rate of purchase being nearly 90~98 per cent in each, Phu My Hung Development Corporation has announced that the last phase will be on April 22 and they will sell units in Block D.

Over four sales phases, nearly 1,500 units have been sold, more than a third of them being three-bedroom condos measuring from 94sq.m to 104sq.m.

The developer said demand for such condos has not been any less than for two-bedroom units.

With three bedrooms, these condos are the best choice for families who live with their parents or have more than one child and babysitters living with them, Phu My Hung said, adding that with these condos, there will be no need for them to change to other accommodation when their family has additional members.

Buying three-bedroom condos is a smart choice, experts said, explaining that their supply in the market is not high. And the supply is even less in projects with full service like Saigon South Residences.

Block D is the last building in the project, with two beautiful views to the north-east and south-west. The north-east view is of the river and Phu My Hung City Centre. The south-west is looking over the amenities site of the project

The building has 321 condos. Of them, 30 per cent are three-bedroom condos measuring 94-104sq.m. It has a yoga room and playing room for children.

Saigon South Residences has been designed by Sino Pacific Construction Company. It has 6 buildings with 19 to 29 floors, including 1,840 condos and 32 per cent of them are three-bedroom condos

The project, covering an area of nearly 33,000sq.m, has earmarked 69 per cent of the land for greenery and amenities.

This is the first project that Phu My Hung has developed with 69 amenities and services.

Many of them cannot be found in any other project: like a water park with a 1,700sq.m swimming pool and indoor and outdoor playing yards for children.

More importantly, security is ensured throughout the day with a camera system working 24/7.

After four selling phases, many customers cared about the project. They said that they like the way that the developer announces information. It is clear and transparent.

All information about the project including prices and buying application form are published. Furthermore, customers have also been informed about parking lots.

Saigon South Residences is expected to bring high profits to investors since it is located in a place where infrastructure is undergoing tremendous development.

By 2019, when the construction of Saigon South Residences is complete, many transport infrastructure works will also be completed, like a flyover on Nguyen Huu Tho and Nguyen Van Linh streets; widening of many roads like Nguyen Huu Tho, Le Van Luong, and Huynh Tan Phat; and six bridges, namely Nguyen Khoai, Rach Dia 1, Thu Thiem 4, Thu Thiem 3, Phuoc Khanh, and Binh Khanh.

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