Brokers undeterred by August fears

Saturday, Aug 16, 2014 17:10

Many property investors are confident in their business, offering their apartments in the market during the seventh lunar month. - Photo

HA NOI (Biz Hub)— Real estate traders have not stopped doing business in the seventh lunar month this year as in previous years, said experts.

The Vietnamese believe that on the seventh lunar month of each year, spirits of the deceased return to the human realm for a month.

Many people avoid important events during the seventh month, considered an unlucky month. Activities to avoid include moving into new homes, weddings, and opening of new businesses.

Economic expert Le Ba Chi Nhan said that this year was different from previous years, with many property developers not afraid of offering their apartments in the market during the seventh lunar month, believing in their business ability to attract customers, reported the BizLIVE online..

In fact, many companies are offering their properties in this month, especially low cost apartments. According to property experts, low cost apartments have attracted customers due to their high demand. Therefore, property enterprises have been competing with each other to increase market share in the low cost apartment market, reports Xay dung (Construction) newspaper.

These included the 89 Phung Hung apartment building of the Ha Tay Trading Joint Stock Company, the Bac Ha Tower of the Bac Ha Construction and Trading Joint Stock Company and the CT9 apartment building under Van Phu Victoria project of the Van Phu Investment Joint Stock Company. The Ehome3 project of the Danh Khoi A Chau Real Estate Joint Stock Company and 8X Plus project of the Hung Thinh Property Company are also in demand.

These companies said, this was the right time to sell apartments because the market had shown signs of recovery, and there was high demand for low cost apartments.

But not all projects attracted customers, they said. Customers also explored projects of prestigious investors, progress of the project and a good sales policy.

Meanwhile, many companies are planning to offer their properties by this month-end, including the Him Lam Riverside project of the Him Lam Real Estate Company, the Tropic Garden project of Novaland and the Mall City project of the Kim Oanh Real Estate Joint Stock Company.

However, Nguyen Viet Hai, Director of VIC property trading floor, said property transactions in the seventh lunar month in this year were slower than the same month last year, and customers mainly put deposits to buy properties this month and would sign the contract next month, reported — VNS

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