Estella Heights -new project in District 2

As of August 9^th, any new development must be guaranteed financially before a project is due to commence.  This updated guidance is seen as a move to reduce perceived risks from overseas investors, who were granted new rights to legally purchase property for the first time on July 1st, 2015. 

New circular

Institutions have acted following a spate of litigation by disgruntled buyers of projects which weren’t delivered on time.  The State Bank’s updated guidance, emerging from Circular No. 07/2015/TT-NHNN, requires certain conditions to be met before a purchase or a project can be ratified.

Guarantees for buyer, developer and lending institutions must now be made clear and transparent before a purchase is recognized.  Should either buyer or developer fail to meet their obligations, the lending parties will be liable to pay full compensation, including re deposits and advance payments.

While it’s expected that additional cost burdens related to securing guarantees from commercial bank may be reflected in marginally higher prices, the aim is to make the property market a more transparent and credible destination for foreign capital.

A bigger role for banks

It’s hoped that asking more of commercial banks will ensure projects are better managed throughout the development phase.  Banks who previously issued lump-sum loans to developers were often left with debts and write-offs, whereas under the new stipulations, commercial banks have an active role in ensuring money is treated correctly through a project’s lifetime.

Lending banks are expected to perform more stringent diligence on a developer’s financial capacity, project feasibility and market conditions before sanctioning contracts.

Masteri Thao Dien apartment will be finished in 2016

Timely delivery and industry credibility are expected to be boosted by these measures, attracting further investment interest from foreigners.  Financially insecure developers are likely to fall by the wayside, which while impacting ambitious start-ups will make the market healthier as a whole.

Overseas Vietnamese (Viet Kieu) and foreign investors will also benefit directly from the Circular updates, with pressure put on the banks to make it easier to access loans in-country rather than requiring guarantees solely from abroad.  Buyers purchasing from established developers with good reputations will also be rewarded, as trusted partners are likely to be offered a lower guarantee fee than less credible competitors.

Get in touch

We’re here to help foreign investors and would-be homeowners make sense of this emerging market.  If you are interested in buying property in Vietnam, contact us with any questions or subcribe our newsletter here.

VietApartment NEWS

Estella Heights apartment is followed Singaporean design style so it attracts many people especiall from Asean contries, Japanese and Korea. Like Estella 1 apartment, Estella Heights apartment has big area over the number of bedroom each apartment has. Basically, this is the difference between Estella Heights and Masteri Thao Dien apartment, one for foreigner investor and one for Vietnamese investor.

In Estella Heights apartment of Singaporean Keppel Land investor has the same number of 3 bedrooms and 2 bedrooms apartment. But after 80% apartment sold out, there is a ratio you should take a note that the available 2 bedrooms apartment is 80% over 20% of apartment 3 bedrooms. Available one is on the estern direction of the building. Follow this information, we suggest you just wait for the next opening to buy a better one. There are still nearly 400s apartment to sell for foreigner investor and customer.

DIFFERENCES THAT MAKES ESTELLA HEIGHTS APARTMENT BE UNIQUE!
+ Each apartment have one slot of parking

+ Fully furnished apartment including floor, wall, kitchen (board, sink, electrical stove, smell consumer, refrigerator, water heater)
+ Resort style with luxury conveniences: Special entertainment room (first time in Vietnam), Multifunctional room for Yoga and party, indoor garden.

+ Balcony intentionally is from 1 to 1.25m or 2.25m (apartments from 2 to 8 floor).

+ Electrical backup 100%.
All these attractive fact gives you a bigger reason to own an apartment in Estella Heights without any hesitation. Further, you will have a very useful support from the bank: Vietcombank, BIDV, Standard Chartered, ANZ, MB bank and Hong Leong International bank. Payment is flexible during long period of time of 3 years. That is the answer for you if you want to sell it again.

All of apartment will be completed in the end of 2017 for stage 1st and mid of 2019 for stage 2nd.

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VietApartment NEWS

Masteri Thao Dien apartment includes 4 buildings, T1 to T4, and the selling process begins with T1 building and end with T3 building. The interval time between opening days is too large enough for the changing in the price of apartment in Masteri Thao Dien. The reason of increasing price is the market and mostly, over 70%, the buyer is investor and they are willing to sell again if they see a good margin profit. Up to the present, the price of the last building is significant higher than the first building. That means the owner of the first and the last will have a medium margin for the market to accept. That is why the price in T1 building is softer than others. And it is the big chance for you to own apartment in Masteri Thao Dien apartment with very reasonable price. In some case, you will have the lower price from invester sell to  you. That is why we call it is a chance to buy.

To reach to the secondary market, you should have relation with some agency in Saigon can help you, but when you go with them, make sure that you go with trustworthy real estate agency and should be from your friend introduction. Secondary market have a little bit longer of buying process, sometimes up to 1 month, for the compicated procedure in Vietnam. But if you have a apartment you want with a reasonable price, why shouldn’t we to come to buying decision now.

Masteri Thao Dien project investors are Thao Dien Investment Corporation, some huge and powerful investors as Vingroup, under financial support of Techcombank and some constructions corporation in Vietnam.
Thao Dien joint-stock Investment Corporation is found on February 09, 2007.

Masteri Thao Dien residence including Masteri Thao Dien apartments and commercial office marks a special point of Thao dien joint-stock Investement Corporation joining in real estate Vietnam market. This luxurious project with many apartments in such a wide area have an important meaning, contribute to the quick and boosting development of the eastern area of Ho Chi Minh City.

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VietApartment NEWS