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Prices are slashed to offload apartments

Prices are slashed to offload apartments

Property firms in Hanoi and Ho Chi Minh City are drastically slashing apartment prices to recover investment capital amid the housing glut.

Hoang Anh Gia Lai recently put up a new apartment complex on sale in Ho Chi Minh City’s District 7, offering 30-50 per cent lower rates than other projects in the nearby area. The Saigon Mekong Company also reduced the price of 500 units in a District 7 development to VND14.5 million ($694), from the initial VND18 million ($861) per square metre.

 

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