[Review] The Launch Of Masteri Centre Point, District 9
[Review] Lễ Mở Bán Masteri Centre Point, Q.9
On Saturday, October 17th, 2020, first project of Masterise Group, Masteri Centre Point in District 9, has been launched.
The event was prolonged from 10 A.M till 5 P.M with both success and unsuccess:
Success: out of more than 1,000 units from the first 05 blocks of the first phase, Riviera, only around 380 units left unsold.
The average price, including Tax, is pushed to a new level for District 9, around 54-62 Million VND/sqm ~ 2,300-2,660 USD/sqm.
- 2 Bedroom, 74sqm, is around 175.000-180,000 USD/unit
- 3 Bedroom, 95sqm, appears in higher price per sqm, around 3,300 USD/sqm and around 313.000 USD/unit
The price seems high for a project located not near the center. However, since District 9 is planned as the new city within the city and boosted with many new infrastructure upgrades such as metro line, bus station, roads, bridges, adjacent high tech industrial zones, universities village and 36ha park, this price will be reasonable in the next 3-5 years when all of the above comes along.
What makes local buyers buy properties now with the given future price is explained by a bank interest support payment schedule, in which they only need to settle the first 30% and enjoy free interest and capital in the next 30 months, plus 5 free years of management fee.
With foreign buyers, the loan doesn’t apply on them; also the foreign transfer is only supported before SPA signing, which means they have to transfer to locals after the SPA signing. This has made the project unattractive in their eyes.
Unsuccess: there are rooms for event organization improvements.
Not enough space for guests, no food and drink is served while the event passed lunch time, the lucky draw took too much time and the paper process after purchase even took longer.
Buyers who found units and guests who couldn’t find ones both end in feeling exhausted and troubled.
What will be next in term of price and event organization in further projects coming up from Masterise Group this year like in District 2 (Masteri Parkland/Masteri Lumierie Riverside) and District 1 (Unknown name, located in Bason)? Let’s wait and see.
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