A view of Jamona Apartment project. — Photo coutersy of Sacomreal.

HCM CITY (Biz Hub) — Property developer Sacomreal is set to offer for sale 1,290 units at its Jamona Apartment project in Phu Thuan Ward, District 7, at what is possibly the lowest price in the area.

The apartments, when they are sold, will start at VND636 million (US$30,285).

Sacomreal told Biz Hub that demand always exceeds supply in the medium-cost housing segment despite the launch of many projects, and the number of people owning houses and apartments remains modest as a result.

The main cause is price, it said, pointing out that it is not easy to find apartments in the city for VND750 million ($35,714) to VND1.05 billion ($50,000).

The first social housing project in District 7 to successfully access the Government's VND30 trillion ($1.42 billion) credit package, it enables buyers to get loans worth 80 per cent of the apartment value at an interest rate of 5 per cent for 15 years.

Buyers will have to pay only VND2.8-5 million ($133-238) per month.

Work on the 1.53ha project will start in early May and be completed in the first quarter of 2017. — VNS