Property developers working on new strategies to boost house sales

Extending the payment to one year, factoring interest rates, funding principal debts and interests in six months….are new house sales strategies which property developers are studying and planning to apply from now to the year end with an aim to stimulate demand.
Due to capital shortage from tightening up of property-backed lending, and the gloomy market segment of apartments, many investors have planned to seek way-outs for these difficulties. In order to convince customers to cooperate with enterprises to overcome challenges, investors and developers launched programs of supporting entire loan rates for buyers. A survey of HCM City realty companies showed that the house loan rate averaged at 20-25% per annum.

General Director of Techcomreal Company, Nguyen Xuan Loc told VnExpress.net, “We are discussing with the investor of a project in southern HCM City to distribute completed apartments, customers need to pay in advance only 300 million dong and then can get house for immediate use with the interest rate of 0%”.

Along with above support items, investors and distribution agent will consider extension of paying principal debts if customers require, he added. The plan will be offered by the third quarter of 2011. Despite the apartment market segment is gloomy, the projects with affordability and almost completion, and suitable sales policies will help increase the competitiveness and create greater chance for output.

Investor of Sunrise City (District 7, HCM City) also has a special selling program amid the interest rates stay at high levels. In details, the firm launched a program of both leasing and buying right. Customers who choose houses, sign rental contracts will pay 20% of house value. As receiving houses, they will pay more 60%, and be presented a furniture package worth $5,000. Specially, customers can live in the chosen houses for trial. After two years of trial, customers will have options of selling or taking back money attached with interest rates if they do not want to buy.

According to specialists, developers now prefer seeking out new sales methods or accepting small losses to maintain the stability of products instead of delaying construction or standing still. – Vietbiz24

Tags: Vietnam Property market, Vietnam property sector, vietnam real estate market

Posted by VBN on Jun 17 2011. Filed under Real Estate. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry