VietNamNet Bridge - Real estate developers said they are having to answer many questions from buyers about roads and flooding in areas where apartments are located. 

Meanwhile, many buyers have decided not to buy apartments in the southern part of the city because of the bad odors which appeared some months ago.

Marc Townsend, CEO of CBRE Vietnam, a real estate service provider, at the ceremony to launch the Q3 report about the HCM City property market, answered questions about how the flooding in HCM City had affected the real estate sector

The expert noted that the heavy flooding in the last few days has affected buyers’ feelings. Buyers now learn about water drainage systems in different areas of the city before they make decisions.

The developer of Phu My Hung urban area and many other real estate firms in the southern part of HCM City (district 7 and parts of Binh Chanh and Nha Be districts) have asked for the municipal authorities’ help because the bad odor in the areas have ‘had adverse effects on the real estate market’.

Real estate developers said they are having to answer many questions from buyers about roads and flooding in areas where apartments are located.

The deputy director of a real estate firm which has developed many projects in districts 7 and Nha Be, said over 20 percent of the company’s clients were extremely anxious about the flooding and bad odor.

The businessman admitted that the flooding has severely affected the sales of apartments. About 15 percent of buyers are anxious about the status of infrastructure items and water drainage systems. 

To calm buyers, the real estate developer has shown documents to prove that the floor of the apartment block is located 1.7 meters higher than the high tide level. This means that when the city is inundated, only the basement floor of the apartment block would be affected.

A real estate developer in district 1 noted that many buyers have delayed the payment for apartments for a couple of weeks after hearing about the bad odor in the southern part of the city, while others have canceled the plan to buy houses in the areas.

“Two bad pieces of news have come at the same time, which have hindered sales," he said. "Technically, it is easier to deal with the floods than the bad odor."

“It’ll take time to find the solutions to improve the environmental conditions,” he noted, adding that incidents have lowered people’s living standards.


Mai Chi