While large and luxury condos with over 100 square meters (about 1076 square feet) are having a hard time selling, sales of smaller and less expensive units have been gaining momentum in the real estate market recently.
These small condos are typically in the suburban areas, away from the high concentration in large cities, but remain well connected to the busy centers. Priced under VND 800 million (about USD $44,800), these units are selling quickly. Real estate experts have suggested that more and more construction companies will invest in building these condos during the fourth quarter of this year and early next year.
A recent survey done by VnExpress.net with over 35,000 participants revealed that only 23.3% needed 100 square meter or more condos, 24.8% liked 80 to 100 square meters, 35.4% preferred 50 to 80 square meters, and the rest 16.5% needed less than 50 square meters.
Most customers are blue collar workers in the age of 25 to 35 years old with middle income. The demand for these small and inexpensive condos will continue to remain high for quite some time to come.
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