Investors are now ready to pour money into projects that that offer reasonable prices and favourable sites in HCM City and neighbouring provinces.—File Photo

HCM CITY (biz Hub)— The real estate market in the south is showing signs of recovery as high-prestige projects get off the ground, according to independent market watchdogs.

Investors are now ready to pour money into projects that that offer reasonable prices and favourable sites in HCM City and neighbouring provinces.

Late last week, the Dong A Dat Xanh Company, for example, launched sales of 41 apartments at its Gia Phu Khang project in Thu Duc District. Within one hour, the apartments sold out.

Similarly, the Nam Long Investment Joint-Stock Company last week also began selling 161 apartments at its Ehome 3 Tay Sai Gon project in Tan Binh District, with each selling for VND710 million (US$33,800).

In the morning that the company launched sales, it received deposits for 32 apartments.

In addition, the Gia Tan Huong propery project in Tan Phu District has attracted several customers. One-hundred apartments were put on sale for the first two weeks, with 80 per cent having been sold.

Sales of land plots at the Nhan Phu Project of Phong Phu Company have seen all 51 products already ordered.

Projects in neighbouring provinces have also been selling well.

In Binh Duong Province, Mecamex IJC and Tac Dat Tac Vang companies together recently launched the sale of street houses in the Prince Town Project. All 50 houses were ordered immediately.

The Kim Oanh Real Estate Company has also sold nearly 1,000 land plots in Binh Duong Province.

Market analysts said the projects that were selling well had shown good construction progress, with many finished products. These projects had also attracted investors with high prestige.

On the other hand, many other developers of property projects have tried to sell their products by offering attractive promotions, but most of them remained unsold.

Hoang Anh Tuan, general director of Tac Dat Tac Vang Company, said the property market was recovering but still had problems.

Many investors had lowered prices and even taken losses, but customers were reluctant to buy because they lacked confidence in them, Tuan said. — VNS