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Mini apartments are more expensive than three-bedroom houses

Avatar of Nick John By Nick John Dec15,2023 #apartments #Mini
Mini apartments are more expensive than three-bedroom houses 4
Mini apartments are more expensive than three-bedroom houses 4

At a high-end apartment project that just opened for sale in the first week of June 2019 on Huynh Tan Phat Street, District 7 (HCMC), a 1-bedroom apartment is priced at 70 million VND per m2.

Explaining this difference of 10-15 million VND per square meter, the project broker said that because there are few one-bedroom apartments and there is more demand, the price is more expensive.

At the end of 2018 and early 2019, a 500-unit apartment project located in Binh Thanh District, Ho Chi Minh City had the asking price of a one-bedroom apartment 2-3 million VND per square meter more expensive than a 3-bedroom apartment.

Similarly, an apartment project located on Pham Huu Lau Street, District 7, Ho Chi Minh City, although only in the affordable segment, 1-bedroom apartments of 45-50 m2 have a selling price in the secondary market of over 30%.

Apartments in the East of Ho Chi Minh City.

This situation also occurs in the East of Ho Chi Minh City when 1-bedroom apartments are often `sold out` even though the unit price per square meter is more expensive than larger apartments.

Chairman of Paxland Company, Nguyen Hong Hai, said that there are many reasons why mini apartments have a selling price per square meter that is about 10-15% more expensive than a 3-bedroom house, or even far beyond this ratio.

The first reason, according to Mr. Hai, is scarcity, which pushes prices up.

The second reason is that the demand for one-bedroom apartments is always very large.

The third reason is that the total value of mini apartments is often lower than 3-bedroom apartments, attracting first-time home buyers with limited finances.

In addition, Mr. Hai added that for investors who surf and buy and resell within the first 6-12 months, mini apartments also have a better selling price than large apartments.

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