The Grand Manhattan, which has been introduced to the market half a year ago, keeps the luxury property segment hot thanks to its dual benefits of rising prices and high rental yields in the future. The Grand Manhattan boasts a frontage onto Co Bac Street and Co Giang Street in the heart of District 1 Prospects of rising prices According to a report by CBRE Vietnam, the entire Ho Chi Minh City only has around 400 luxury apartments priced from $3,500-7,000 per square metre, mainly concentrated in the heart of District 1, accounting for a humble rate of only 0.3 per cent of the total apartment supply (nearly 160,000 units). The luxury segment is heated up with new projects like The Grand Manhattan, which was launched by Novaland at the beginning of this year. The complex comprises of three 39-storey apartment buildings with four underground floors. It is being built on an area of 1.4 hectares, supplying 1,000 luxury apartments with long-term ownership for homebuyers. As land is … [Read more...] about Dual benefits of investing in luxury apartments in District 1
Latham square apartments
Among the run-down ones is the two storey metal roofing building at 137 Ly Thuong Kiet street in Tan Binh district, built before 1975. The building at 43 Binh Tay street in the district is also in the same destiny. The family of Ms. To Le Hue have lived there for 40 years. Not long ago, a concrete debris fell down in the corridor in front of her apartment, slightly hurting a family member. Mr. Vuong Thach Phat said that living in the old apartment block just like living with the death but they have no choice. Local dwellers would remove out of the building if authorized agencies publicize removal time, temporary residence and resettlement assistance policies. Another apartment building in the list of severely downgraded ones locates at 47 Long Hung street in Tan Binh district, comprising 30 apartments measuring 20 square meters each built in the 1960s. Ms. Nguyen Thi Be Hai in her apartment at 137 Ly Thuong Kiet street (Photo: SGGP) Nearby, the building at 40/1 Tan Phuoc street is … [Read more...] about HCMC humbles about upgrading old apartment blocks
Living in the Kim Lien apartment complex was once a dream for most Hanoians, since its conveniences were among the best during the last century. In the 1954-1965 period, the Kim Lien apartment complex was among the highest-quality constructions in Hanoi, erected with the help of foreign experts from communist countries, mainly North Korea. The apartment complex was constructed with the support of North Korean experts between 1959 and 1965, according to Dao Ngoc Nghiem, architect and former director of Hanoi Department of Planning and Architecture. The Kim Lien apartment complex is now fully included in the central district of Dong Da. The old complex includes three zones. Zone A is now the Kim Lien Hotel, Zone B is now the Kim Lien apartment building and zone C is the Vietnam – North Korea friendship kindergarten. The apartment complex used to have 38 four-storeyed buildings and several public constructions. It used to accommodate 2,600 households with a standard area of eight … [Read more...] about Venerated apartment complex in Hanoi a North Korean inspiration
Who are the owners of luxury apartments in District 1? A view of The Grand Manhattan, a luxury apartment project in downtown HCMC The just-launched Grand Manhattan has become the center of splendor due to its luxury apartments being located in downtown HCMC, which are not easy to own. From international investors Elena Goh, a Singaporean real estate investor, is one of the first owners of apartments at The Grand Manhattan, “HCMC is a market my husband has eyed for ages. So we decided to purchase apartments as soon as the project was introduced to the market. Compared with other property markets which I have invested into such as Hong Kong, apartments in HCMC have a much lower price and profit margins reach 4%-5%, compared to Hong Kong’s 1%-2%.” As an experienced real estate investor, Elena Goh said, “In Hong Kong and Singapore, profit growth of luxury properties tend to be stable. I believe that profits from real estate projects in HCMC, which is an … [Read more...] about Who are the owners of luxury apartments in District 1?
The People’s Committee of HCM City has officially turned down a project to build an apartment block offering homes measuring just 20 square metres. The People’s Committee of HCM City has officially turned down a project to build an apartment block offering homes measuring just 20 square metres. The project in District 1 was submitted to the committee by Dat Lanh Real Estate Company. The city turned down the proposal on the basis that it would lead to too high a concentration of people and put greater pressure on traffic and social infastructure. Earlier, the company proposed that the Ministry of Construction revise regulations on the construction of small apartments to match people’s demand. Director Nguyen Van Duc said up to 300,000 apartments had been offered in Hanoi and HCM City since 2004, excluding future supply. Most of them measured over 70 square metres each. However, these apartments failed to meet the demand of many people due to high prices. He … [Read more...] about HCM City rejects mini apartment project