Healthy living trend and attractive incentives are motivating buyers with a long-term view to look for opportunities to own houses in eco-smart cities. 

Demand for deluxe green houses

Living in a luxury apartment in HCMC’s District 2 that has all modern amenities, Mai Hong is still looking for an eco-friendly house in suburban areas. 

Hong wants her house to be located in a eco-smart city with large green spaces and modern facilities. She sees such a property as a safe haven with the potential of yielding good profits and an ideal place to live in the future.

"My family has three generations living under one roof. The current apartment is comfortable, but not big enough for all. I want to find a deluxe green house which is close to natural green spaces, giving us a better living environment," Hong said. 

Hung Tran is also an investor seeking an eco townhouse for long-term investment. He realizes that the rapid pace of urbanization has overloaded urban infrastructure and led to a shift in search for ecological urban areas in neighboring cities.

"After the Covid-19 pandemic, I believe people will pay more attention to health and living environment. Smart ecological cities that meet green living criteria will be the best choice for living," he said.

The HCMC-based investor also noted that property developers have been launching many promotion programs as many people are hesitant about buying. "This will be an opportunity to own a house at a lower cost for both investors and buyers who wish to settle down.", he said. 

Investors and home buyers look at the model of an eco-smart city project at Novaland Expo 2019.

A real estate expert said that a majority of Vietnamese people still prefer houses to apartments. Although they already own an apartment in big cities, they are still likely to look for opportunities to buy a house or a villa. They also look for eco-friendly projects because of the benefits of modern planning alongside green, comfortable and safe living spaces, the expert said.

High-incentive sales policy

One of the developers catering to this emerging demand is Novaland, which has launched preferential programs for its eco-smart projects. These programs target potential buyers living in apartments. 

The company recently launched its "Owning Apartments, Owning Aqua City Houses" program. Buyers who own apartments in Ho Chi Minh City's Districts 1, 2, 7, 9, Binh Thanh and Thu Duc only need to pay VND630 million ($2,550) in advance and VND60 million per month for the next six years. The expected handover time is three years.

Aqua City has a large scale of 600 hectare in the east of HCMC and is surrounded
by large rivers and green spaces.

Offering discounts and implementing incentive sales policies is seen as a new trend in real estate market, targeting middle and high-income buyers - those who are less affected by the Covid-19 epidemic.

A first quarter market report by real estate firm JLL showed that the consumption of houses have not been impacted much by the Covid-19 pandemic yet. 

While the selling prices of apartments tended to decrease compared to the previous quarter, the price of houses still increased by 37.7 percent year-on-year and 8.4 percent over the previous quarter. Demand mainly came from real home buyers looking for spacious homes with greener spaces and cleaner environment, the report said.   

"In a city of nearly 9 million people with a ratio of trees below one square meter per person, Aqua City is not only great choice for those who need green and healthy living but also a potential profitable investment option for investors," said a Novaland representative.

Aqua City introduces its "Owning Apartments, Owning Aqua City Houses" program for customers who own apartments in Districts 1, 2, 7, 9, Binh Thanh and Thu Duc in HCMC. Under this program, customers can pay just VND630 million ($2,550) in advance and invest in Deluxe Green House, paying the rest in monthly instalments of VND60 million for six years. The expected handover time is three years.

In addition, from February 25 to June 30, shareholders who own 1,000 shares of Novaland Group and maintain it for six consecutive months will receive a direct incentive of VND55 million when buying Aqua City properties. The program will go hand in hand with other incentives for project customers.

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