Draw hosted to find buyers for balcony apartments

By Vu Le   June 8, 2023 | 03:28 pm PT
Draw hosted to find buyers for balcony apartments
The balcony of an apartment in Binh Tan District. Photo by VnExpress/Trung Tin
Four people were selected randomly among 40 to purchase apartments with spacious balconies in Ho Chi Minh City’s Binh Tan District, an unusually high demand amid a dampened property market.

The four apartments were 57-89 square meters, plus a further 14-25 square meters of balcony.

They were priced at VND3.6-4.9 billion ($153,000-208,600), the same rate as a normal apartment in the project.

With 40 people showing interest, the developer had to draw tickets to select four lucky buyers.

Several people approached the four buyers and offered to immediately purchase the apartments for VND100 million more, but none agreed..

Apartments with spacious balconies have been in high demand in recent years in HCMC. In 2019, a developer of a condo with 1,700 apartments in District 9 (now part of Thu Duc City) sold a limited number of spacious balcony properties with prices 20% higher than for average flats, but demand was still very high.

Nguyen Minh Hoang, CEO of property distributor T&A Investment, said that spacious balcony apartments were a niche market, and there were sometimes special draws to select buyers.

Most of the time, people buy these apartments for residential purpose and do not sell them even if prices rise, he added.

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