Savills targets vietnam’s affordable housing sector

“Recent changes in the residential market” prompted the group to “evolve to ensure market leading performance”, they announced last month.

“Property speculation has been removed so that the residential market is now orientated towards owner occupiers,” explains Savills, while the residential market is improving. As a result, Savills is extending its business model to low-end housing.

The move follows success within high-end sales in the country, which the company says has given it the flexibility to diversity into the affordable housing segment, particularly in the Go Vap District.

Partnering with Danh Khoi, the apartments’ selling prices will start from VND 11,9 mil/sq m and the payment progress is applied up to the construction progress (24 months). Buyers will receive bank loan support up to  70% of the unit value with low interest rate.

“This is an exciting business initiative to expand our market share and better service Vietnamese property buyers, who can continue to trust and rely on the Savills brand,” the group said in an official statement.