High-end developers in Vietnam are rolling out incentive programs to boost their sales in the sagging real estate market.
Developers are offering buyers help in finding potential lessees in their pursuit close deals. Such measures will limit the risks for the buyers in the early stages of investment.
Refico, a premium property developer from Ho Chi Min, is going even further with its Watermark complex in Hanoi: In addition to guaranteeing a USD4,000 monthly rental payment for the first year of ownership—even if the unit isn’t rented out—the company offers furniture worth USD10,000 and a14 percent return on investment.
“We consider this one of the most innovative incentives on the market today,” Vu Thanh Tung, general director of Tay Ho Tay Real Estate Joint Stock Company, the a management company, told Vietnam Investment Review.
Fusion Suites Danang Beach offers its buyers a guaranteed rental payment for the first three years of ownership in case the owner fails to find a lessee. Hyatt Regency Residences also offers five percent capital gains for the first two years of ownership, giving owners of units worth USD400,000 a USD20,000 return each year.
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