THURSDAY, March 28, 2024
nationthailand

Vietnamese youth opt for flats over houses in HCM City

Vietnamese youth opt for flats over houses in HCM City

HO CHI MINH CITY - Apartments are becoming the housing of choice for many young families in Ho Chi Minh City thanks to the many advantages they offer.

Le Hoang Chau, chairman of the HCM City Real Estate Association, said young couples with one billion dong (Bt1.55 million) have plenty of options with regard to buying a house or apartment in the city.
However, the latter is a good choice since it maximises their benefits.
The biggest advantage is that buyers can easily borrow from banks. Also, with apartments, developers collaborate with banks to design attractive packages to attract more customers.
In terms of location, an apartment costing one billion dong is often closer to the city centre than a similarly priced house.
Dang Thai Cuong of HCM City’s Go Vap district said he considered many places before buying an apartment.
“The apartment has a better location and good living environment.”
For around one billion dong, he was able to buy a 70 square-metre apartment. With the amount, he could only have bought a house of 40m2 situated in a small alley without facilities. If he wanted a house of comparable quality, he would have to go to Hoc Mon district, he said.
Many others were of the same opinion as Cuong, saying they were ready to pay monthly administrative fees to live in a 65m2 flat in a floor high up rather than in a smaller house in a lane. Developers say since it is now a buyer’s market, they are striving to develop many projects to meet customers’ demands.
That is why they are building many apartments at around one billion dong – such as 8x Rainbow in Binh Tan district, 8X Plus Truong Chinh in District 12, and 8X Thai An in Go Gap district.
Nguyen Nam Hien, general director of Hung Thinh Land, said while one billion dong would only get a house in an alley with poor infrastructure, it would be good enough to buy an apartment.
“Apartments are also very safe,” he pointed out. Most apartment buildings have cameras and security guards working 24 hours a day, while the risk of burglary is high at private houses in alleys.
Chau said the choice between a house and apartment depends on the financial wherewithal of a person as well as his habits and thinking, but for him, with one billion dong, an apartment is a smart choice.
 
TAGS
RELATED
nationthailand