Overview of Ho Chi Minh City’s suburban real estate market...15 CHAPTER 3: CUSTOMER’S NEED RESEARCH NEED AND FACTORS AFFECTING THE WEST LAKES GOLF & VILLAS PROJECT...19 3.1..Customer’s.s
INTRODUCTION TO THE STUDY
The rationale of the research
For a long time, peri-urban resort is considered a very popular type in many countries around the world, especially in developed countries such as Germany, Sweden, USA, Due to geographical characteristics, most Suburban resort models all belong to mountain-facing real estate group instead of sea view With their advantages, they are sometimes even more attractive to the more luxurious forms of island and island resorts As a result, the value of peri-urban real estate tends to increase over time For example, according to a report of the prestigious US online real estate solutions service provider - Truly.com, in 2017, mountain-facing real estate in the country increased by 19%, while real estate sea-view assets only increased by 1.8% Obviously, peri-urban resort is getting more and more foothold in the context of increasing demand for relaxation of society Not only that, in the world, the models of convalescence in general and suburban resorts in particular have been developed beyond the limits of conventional resorts and spas Many developers of resort real estate have been quick to develop models of jungle experience, admire the wild beauty of nature, adventure tourism, etc.to.catch.up.with.market.demand.
In recent years, the demand for relaxation around big cities like Hanoi and Ho Chi Minh City has been growing and diversified It can be seen that the potential market of this service line consists of two main groups: inner-city residents and tourists visiting the city Overall, this is a large-scale market and great potential for exploitation Not only for the affection of world’s real estate trend, it is an inevitable trend due to Vietnam’s environmental factors Since the end of 2019, air pollution has become a top concern keyword with alarming indicators published in Hanoi and Ho Chi Minh City When the story of air pollution, water sources (the incident of the Da River) or the solutions proposed to save the "dead rivers" in the heart of the city had not ended, the arrival of Covid- In the beginning of 2020, there will continue to be an alarming increase in the quality of life of urban residents, especially in major economic and political centers.
Under the influence of Covid-19, the trend of minimizing social activities and deciding to spend time "resting and playing in the living space around the house" also gradually ascended the throne This inevitably promotes the need to search for green real estate projects, synchronous and modern utilities, which is beneficial to disaster strikes also shows that investing in the future with a second home - as a safe haven for families is an undeniable trend Since the beginning of 2020, although the market has mostly stopped at an observable level, many investors have moved to new plans because.they.do.not.want.to."isolate".cash.flow When.production.activities.stagnate , marine tourism entered an unprecedented recession because of Covid-19, only a small number of real estate products to meet the real needs won the trust One of them is suburban resort real estate - a segment that is expected to be a fish that can swim upstream now The suburban resort real estate is also one of the most prominent segments in the second home investment trend - the second home that Vietnam is one of the 20 most attractive emerging markets in the world of the Telegraph (UK) in June 2019.
West Lakes Golf & Villas is one of suburban real estate project that respond to society’s urgent problem The author believes that researching marketing mix for West Lakes Golf & Villas project will contribute to indicate the factors influencing individual buying suburban real estate behavior as well as to help improving marketing plan for other outskirt real estate projects.
1.2 Research.objectives and Research questions
How are West Lakes Golf & Villas projects different from business features, business strategies and competitive advantages compared to other high-end resort projects in suburban areas of HCMC What is the actual implementation effect and remaining issues of this project?
Who are the target customers of the West Lakes Golf & Villas project? What factors influence their buying decision? What is the purpose of their purchase? (for investment or for real?)
With the capacity of BHS Group, how to improve and develop the product?What activities need to be done to make the product more successful in the near future?
Research methods
The issue researched in this paper is the factors affecting suburban real estate customer’s buying behavior.
Object of study: People who live in Ho Chi Minh City.
Based on the theoretical basis for building a marketing mix strategy and information about the investor C.S.Q Global Investment Joint Stock Company as well as the capacity of BHS Group, the author making assessments, suggestions, improvements and product development in accordance with market demand.
This research uses both secondary and primary data The data is collected through qualitative research that help to explore the insights and opinions of participants about buying suburban real estate behavior.
Location: Ho Chi Minh City
Time: The research is carried out from November 2019 to May 2020.
The structure of this research
Chapter 1: Introduction to the study
Chapter 2: The introduction to BHS Group and the project of West Lakes Golf
Chapter 3: Customer’s need research and factors affecting the project of West Lakes Golf & Villas.
Chapter 4: Proposed marketing mix plan for West Lakes Golf & Villas project.
INTRODUCTION TO BHS JOINT STOCK COMPANY AND THE
Overview of BHS Joint Stock Company (BHS Group)
BHS Group was established in July 2019 with 100 billion VND charter capital registered with the trade name is BHS Joint Stock Company Inspired by the
"giants" in this industry, BHS is a real estate development & sales management consulting firm, which has an updated modern method, with breakthrough thinking. BHS Group will raise the own stature and become the ideal model in the future The head office is located in 2nd floor, 24 T3, Thanh Xuan Complex building, number 6
Le Van Thiem Street, Thanh Xuan District, Hanoi City In May 2020, the company has around 46 employees with 3 governance levels, 5 main boards.
BHS Group has a lot of impressive numbers, the biggest competitive advantage is the practical experience, implementation ability and market understanding Nationally, BHS Group’s leaders have 10 years of experience, 300 implemented projects and 150 researched projects.
BHS Group has 5 consulting services: Investment cooperation and project development; Product packaging and sales implementation; Development strategy consulting and marketing implementation; Market research and M&A consulting; Leasing.
2.1.2.1 Investment cooperation and project development
Vietnam is a developing country with a dynamic and young population.Urbanization in Vietnam has just entered the early stages of development, the demand of house is constantly increasing Besides strategic consulting on products,BHS Group is always ready to seize the cooperation opportunity with the Investors,bringing more value to the project’s success BHS propose solutions and companions to the Investors to add product value, meet the maximum demands of the market.
2.1.2.2 Packaging product and sales deployment
BHS implements 5 stages of packaging product and sales deployment which are consulting product concept, evaluating investment efficiency, packaging product, business strategy and crisis handling consultancy and after sales dispute consultancy
In market research, BHS analyzes project (SWOT, USP,…), research market and competitors In M&A consultancy, BHS gives M&A consultancy to two type of customers First, for sellers, BHS adds real estate values, maximize profit by product concept consultancy services which meet market demand and customers taste BHS is not only the connection between sellers and buyers but also increases real estate values for both Second, for buyers, all real estate projects researched by BHS ensure profit, liquidity, time saving for customers Investment projects chosen by BHS do not only have potential finance but also ensure sustainable development, create a civilized habitat for community.
2.1.2.4 Development strategy consulting and marketing implementation
BHS’s mission for development strategy consulting and marketing implementation as follow:
Analyze & research target market demands Research marketing strategy of competitors in a same segment
Establish overall marketing strategy to approach target market
Optimize marketing cost, increase conversion rate, push sales
Consult branding development strategy, establish product concept and branding story
Establish & deploy push sales marketing plan
Consult & handle communication crisis at every step of sales process
With a diversity of networks, relationships, available customers database, BHS provides services of consultancy, management, business of commercial centers, offices all in one to optimize costs and maximize profit for Investors.
In leasing stage, BHS’s duty is to do market research, product development, investment appraisal, consulting on floor planning/ allocation for lease, consulting on branding % marketing strategies, managing and leasing mall/office, managing distribution agents, consulting on leasing strategies and policies, training and transferring techniques of leasing activities.
Based on the real estate market situation in Vietnam, BHS Group notices there are two potential undeveloped market Therefore, BHS Group considered to target mainly in two types of customers First, BHS targets in unpopular Investors but have large land fund and haven’t had in-house sales team such as Geleximco, BimGroup, Vimefuland, Khang Dien Second, BHS chooses new Investors, haven’t had reputation, having financial difficutlty, doesn’t have large land fund and doesn’t have lots of projects such as Hacom Holdings, Apec, SGU, An Thinh,…
Overview of West Lakes Golf & Villas Project
2.2.1 Preliminary information of the investor C.S.Q Global Investment Joint Stock Company
C.S.Q Global Investment Joint Stock Company was established in January 16th in 2006, the company’s current charter capital is 284.000.000.000 VND C.S.Q Global Investment Joint Stock Company is a multidisciplinary business that is operated and managed by foreign experts in golf service business and a team of staff with many years of real estate business experience.
The headquarters is located at 45, Provincial Road 822, Ap Chanh, Tan My, Duc.Hoa.District,.Long.An.Province English.name.is.C.S.Q.CO Legal.representati ve: Mr Tran Thanh Khiet - Chief Executive Officer
2.2.2 Principles of C.S.Q Global Investment Joint Stock Company
C.S.Q CO vision is to become a leading private economic enterprise, having a firm position in the field of construction, project development and real estate business in Vietnam and reaching out to the world in the nearest future Their development strategy is to build products and services on the foundation of combining the world's modern technology and creativity; Manage and operate projects according to international standards, meeting the progress schedule committed with customers while ensuring outstanding quality for each project; And develope a team of highly qualified, professionally trained and experienced staff through projects is always ready to serve and best support customers and partners.
C.S.Q Global Investment Joint Stock Company operates in the field of real estate They focus on the main market in Long An and is implementing many large- scale projects Established in 2006, the time of Long An real estate has a lot of fluctuations After 13 years of operation, C.S.Q Global Global Joint Stock Company has become a big brand, a big partner of many next generation real estate companies Main industries selected to be the key development fields from the time of formation to present of C.S.Q is construction of other civil engineering works.
On business registration records and actual operation of C.S.Q has expanded and achieved many positive.results.in.other.business.fields.such.as:
Building other civil engineering works (Golf club)
Restaurants and mobile food services (restaurant business)
Rental of sports equipment, entertainment
Wholesale cars and motor vehicles
2.2.2.3 Governance model and organizational structure
C.S.Q CO builds a scientific and professional management model with the division between functions: Administration - Control - Administration Objectives of the executive management model:
Optimizing the rights and legitimate interests of Shareholders.
Modern management, control and administration, applying advanced management technology.
Promote creativity and flexibility in operating business activities. The organizational structure is arranged according to the strategic model with the motto "Simple - Effective":
Focusing on specialization and close coordination among specialized units according to their functions and supporting departments
Delineate the functions that are strictly managed and operated in a two-way interactive model, allowing the highest order to be followed while the shortest and clearest route is for all employees
The work is implemented right goals, right people, right job.
2.2.2.4 Partner of C.S.Q Global Investment Joint Stock Company
C.S.Q International Investment Joint Stock Company has many years been operation with many units in different fields such as build, invest, bank Currently, Tran Anh Group is a strategic partner with C.S.Q CO to implement the largest project ever Besides, BHS Group also plays an important role in the development plan of C.S.Q Company, especially in the period of developing the West Lakes Golf
2.2.3 Overview of West Lakes Golf and Villas project
Project name: West Lakes Golf & Villas
Location: Duc Hoa District, Long An Province
Investor: C.Q.Q Global Investment Joint Stock Company
West Lakes Golf & Villas urban area is the first golf resort complex embracing the first golf course in the west of Ho Chi Minh City Rare villas with wide views open the expensive West Lakes golf course - a product designed by the world's leading prestigious Thomson Perrett company, popularized by the BritishOpen founder and winner five times, Peter Thomson The layout is 7100 yards long,highlighted by picturesque lakes on almost every hole, undulating ripples and smart tunnels, all signed by Thomson Perrett and the local performance team.
West Lakes Golf & Villas is one of the first golf courses in southern Vietnam to have Zeon Zoysia grass runways, extremely easy to beat Green vegetables, the Bermuda grass Tifeagle, create quick and real rolling surfaces Golfers at all levels will appreciate the high level conditions of the course. Only a 60-minute drive from Ho Chi Minh City, West Lakes Golf & Villas is ahead of the trend of urban perks that urban families love In addition to the row of villas overlooking the expensive golf course, the project gathers a system of high-class utilities to meet the needs of the successful owner to relax, entertain and settle.
Located right in front of Provincial Road 822 in Duc Hoa district, Long An province, West Lakes Golf & Villas is the first golf urban to own a location that fully converges all "internal forces" to promote profitability fast
Table 2.1: West Lakes Golf & Villas location
In the world of tourism real estate investors, there has appeared a golden formula of 60:60, the ideal place is at a distance of 60km or a travel time of 60 minutes West Lakes Golf & Villas is located is an ideal place to serve the needs of suburban resort.
Only 40 minutes from Phu My Hung - 60 minutes from Ho Chi Minh City Center West Lakes Golf & Villas is in an urban area of Ho Chi Minh City, which is a key economic region in the South It’s transition between the two economic motive regions of the national level and the Southeast and Southwest regions The project has southwest gateway of Ho Chi Minh City and key road intersections such as National Highway 22, TL 822, TL 823, QLN2, Ho Chi Minh City - Trung Luong Expressway, Ho Chi Minh City - Moc Bai Expressway, Riverside Boulevard (Tuan Chau Group) b Links area and infrastructure
The project is located in the heart of the center of Duc Hoa district, which is the focal point of Long An real estate investment and is a gathering place for many large-scale projects such as Vinhomes Duc Hoa Urban Area, Hong Phat Residential Area, multi-hospital Pan-Asian University, etc From here, residents also have easy access to.the.administrative.center.and.adjacentfacilities.of.Duc.Hoa.district The project also has strong regional connectivity characteristics, quite close to some key locations of the province This is convenient for the guests staying at the project. Specific zone connections are shown in the following table:
The table shows the estimated time to move from a number of key locations to the project According to the survey and research of the author, it can be seen that
Cu Chi district is 1km away, Highway 22 is only 7km from the project, Ben Thanh market is about 49km, Tan Son Nhat airport is about 46km, As such, the project has a quite suitable location to move, suitable for the object customers analyzed above. c Layout of the West Lakes Golf & Villas
Specific layout of the villa is shown in the following image:
Table 2.3: Master plan of West Lakes Golf & Villas
In particular, the clubhouse is the blue highlighted part, located on the corner of the project, to serve the entertainment, entertainment and relaxation of residents such as swimming pool, gym, yoga, bar, cafe, mini villas are located in the innermost, the center of the project and the outer edge villas are semi-detached villas and detached villas Mini villas, also known as adjacent townhouses, are highlighted in pink, located in the center of the project, occupying the largest area. Duplex villas are highlighted in yellow, located on the outer edge of the project, facing the golf course Finally, there are single villas, a limited number and located in the corners of the project, with the best location, the most airy space with a view of the golf course. d Scale and design of West Lakes Golf & Villas
The West Lakes Golf & Villas project has an area of 48 hectares built into 12 floors including 2 commercial floors and 10 floors of apartments
CUSTOMER’S NEED RESEARCH NEED AND FACTORS
Customer’s need research
- Object: Customers that have buying demand for investment in HMC.
- Sampling method: non-random convenient sampling
- Research purpose: Researching factors affecting buying real estate suburban decision
+ Frequencies: Calculate frequency - the number of selected times for answers + Descriptives: Calculate the average of the attributes
BẢNG CÂU HỎI KHẢO SÁT Ý KIẾN KHÁCH HÀNG VỀ
CÁC YẾU TỐ ẢNH HƯỞNG ĐẾN QUYẾT ĐỊNH MUA
BIỆT THỰ NGHỈ DƯỠNG VEN ĐÔ TP.HCM
Tuổi: ……… Nơi sống: ……… Nghề nghiệp:……… Mức thu nhập bình quân hàng tháng
A Dưới 30 triệu B Từ 30-50 triệu C Trên 50 triệu
PHẦN CÂU HỎI CHI TIẾT:
1 Anh/chị đã từng có ý định đầu tư hoặc sở hữu sản phẩm bất động sản ven đô TP.HCM chưa?
2 Anh/chị đã/sẽ mua sản phẩm bất động sản ven đô TP.HCM với mục đích gì?
A Để ở thực B Để đầu tư C Cả 2
3 Loại hình bất động sản ven đô mà anh/chị đang mong muốn sở hữu là gì?
4 Anh/chị vui lòng đánh giá theo thang điểm từ 1-5 với mức ảnh hưởng tăng dần của các yếu tố sau đến quyết định mua bất động sản?
2 Uy tín của chủ đầu tư
3 Đơn vị quản lý vận hành
13 Tiềm năng phát triển du lịch
15 Tính pháp lý của sản phẩm
Xin chân thành cảm ơn anh/chị đã hợp tác
Analyze research result
Job: Businessman (38%), Officer (28%), Freelancer (22%), Different (12%).
Average income: Under 30 million VND (28%), 30-50 million VND (38%), above 50 million VND (34%) The result shows high income level.
In 50 respondents, 76% chose having intention to have real estate product in suburban HCMC Specifically, It can be explained that the proportion of people who intend to own a type of real estate is higher than those who do not intend to. This can be explained by the high proportion of people over 30 years of age who also have a high average income These are objects of middle-aged adulthood, high income level so there was enough time to accumulate wealth This is the segment of customers who frequently buy or invest in real estate.
Of the total number of respondents, 42% bought for investment, 12% bought for real, 46% bought for two purposes It can be seen that the trend of buying real estate for two purposes are investment and both invesment and resident accounts for the largest proportion, followed by buyers with investment purposes, in the end, 22% buy to meet demand in real Realizing that a large number of investment customers in the market, a product that meets investors' expectations is a product with a clear price increase potential and high liquidity will be prioritized 1 in the real estate market this time.
Of all the respondents, Suburban villas (28%), Shophouse (30%), Condotel (10%), Landed (18%), Apartment (12%), Different (2%).
Suburban villas were chosen by the majority based on the advantages when it comes to investment Investors see the price increasing potential of suburban villas due to the trend of moving from the polluted city to the fresher area Besides, suburban villas are near by the city, therefore it is convenient to move for vacation. Shophouse has the highest advantage of profit potential, therefore, most of the investors would likely to prefer this type of real estate product After the “Cocobay case”, investors tend to wary more with condotel, therefore, responders were not likely to choose this product Landed has high price increasing potential but also has high risk level due to the dependent on construction progress and asynchronous zoning Apartment were not chose by many responders because of the fact that responders are mainly have high income level, therefore they wouldn’t choose to live far from the city.
3.3.3 Factors affecting buying suburban real estate decision measured by 5 points likert scale
Product concept: score of 4.82 / 5 points shows that people are very interested in product concepts The product concept in real estate industry term can be understood as the content of positioning and type of product, which is the communication story throughout the project This is an important factor determining the success of any real estate project Product type and positioning is the first step a product developer must take to create the basic framework for the project The type and position of the product must be consistent with market trends, and even have to predict what kind of products the customer will need in the future.
The reputation of the investor: score of 4.74 / 5 shows that customers are very interested in the reputation of the investor, especially the group of customers who promote construction quickly and have power on other cooperation units This affects the psychology of real and investment customers The timely construction and timely handover of houses is important because it affects the interest rate payment time, if the handover is not timely, it will make all investment plans of customers turn upside down if they borrow money to buy real estate even lose money if real estate cannot be liquidated.
Operational management unit: 3.76 / 5 shows that the project management unit after finishing and putting into operation is quite important, real and real customers appreciate quite weakly This factor because it affects the quality as well as the standard of living services at the project Operational management unit acts as a housekeeper in the house, activities related to mining, security, service and sanitation exploitation are affected by this unit Real customers are interested in this factor because they will be the people directly living in the real estate project that the management unit plays to provide them with a good standard of living. Investment customers are interested in this factor because this is the decisive factor for leasing services, investors if they do not want to sell real estate immediately, they can also exploit leasing to ensure cash flow born monthly but still owns the property.
Construction contractors: 3.65 / 5 points indicate that the construction contractor is a quite interested factor when buying real estate This factor is not highly appreciated probably because the customer believes that the construction problem of the construction contractor depends entirely on the investor, the investor of the project with strong financial potential, the contractor will execute the test. The public will be quick, professional and methodical Customers appreciate the reputation factor of the investor higher than the construction contractor making this completely reasonable and grounded.
Area: 3.59 / 5: The area factor is also quite interested in the decision making process of customers Depending on the specific use purpose, customers have different area desires.
Landscape utilities: 3.98 / 5: The utility element of the real estate project is highly rated with a score of 3.89 / 5 showing that utilities play a quite important role It is not difficult to come across apartments, villas, but the same street but the difference is tens of million / m2 This difference comes from the synchronization utility of the project This factor is even more important for luxury property buyers, as this is considered the key to forming the quality of life of an urban area Real-life customers consider the project's facilities and services to improve the quality of their living environment, increasing the variety of utilities, providing them with many interesting experiences right in the space living And investment customers think that utility is the added value, making real estate value more and more potential in the fu
Architecture: 3.46 / 5 The house architecture is not appreciated can be explained by the number of participants answered that buying real estate for investment purposes Because the investors are not directly in the real estate, they do not really care about the architectural elements in the project.
Feng shui: 3.55 / 5 Feng shui element has a not too high score, showing the relative interest of customers to feng shui However, the real estate developer also needs to pay attention to this issue in order to bring customers a product that suits them,.it.is.not.a.necessary.condition,.it.is.also.a.sufficient.condition.
Geographical location: 4.87 / 5 can see that geographical location factors have the highest influence on a customer's decision to buy real estate This is completely accurate and completely predictable Real estate projects with beautiful locations, convenient traffic connections, belong to the city center, connect to other areas quickly and conveniently have higher advantages than other areas far from the center Both investment and real-life customers place geographical location to the forefront, with prime location investment customers offering the potential for future price increases, never having to fear real estate production down the price For real guests, location directly affects their living, and the convenience of their travel to nearby locations.
Cost: 4.73 / 5 The price of a high level of influence on a valuable asset like real estate is not surprising Investment customers have the psychology of hunting for real estate at the time of cheap price when the real estate has not been formed to wait for the opportunity to increase prices in the future and then resell to real customers or investment customers other Although real customers do not put a lot of pressure on price as investment customers, the Vietnamese mentality is still durable and real estate is a high-value asset so they also consider reference. because it will have to know carefully the competitors if they find another suitable product of the same competitor.
Sales agents: 3.32 / 5 The most surprising factor is the sales agent. Neither the investor nor the real person appreciates the impact of this factor It is possible to explain that the customer can find all project details on the project's official websites and the sales manager Customers who want to buy the product, they can know a lot about the project before listening to more agents Therefore, agents act as consultants for some information that customers do not know in a timely manner and support the purchase process of their products It can be seen that the majority of respondents are investment customers and have ever owned real estate Certainly, they also had experience in consulting and listening to consultants at many brokers and found that the agents have the same sales policies for a project, there is no big difference between agents Management of the trading floor affects their buying process, so the level of influence of this factor is not high Every sales policy, sales roadmap, or marketing for the project is developed by the sales development and management unit Therefore, sales agents, though necessary, have no big impact on marketing activities for.products.
Potential price increase: 4.58 / 5 Looking at the number of points, it can be seen that the potential of price increase is only after the two factors that have the biggest influence The potential for price increase is taken into consideration by all customers who buy to invest Investors buy real estate cheaply and consider the conditions that lead to higher prices in the future The conditions needed to increase the value of real estate in the future include: Tourism potential in that area, project infrastructure planning, project utilities, road planning, infrastructure in the future area. Sales policy: 4.32 / 5 Sales policy has a relatively high level of interest. Understandably, the real estate sales policy is the selling method that the sales management unit studies and applies to sales agents including: Payment schedule (the distribution of numbers installments and amounts payable by the customer), pricing structure, policies associated with the bank to support customers using financial loan packages, policies and incentives exclusively for Early Bird (early buyers) Sales policies have a great influence on customers' investment plans and financial allocation plans Experienced investment customers always put this factor first.
Legality: 4.36 / 5 The legality of real estate products is the document requirements on real estate ownership that are strictly followed by State coercion.
Real estate products that need clean legal status are red books, auctioned land and permanent ownership The products with clean legal real estate greatly affect the psychology of customers, making them more secure and confident in the products that they put more assets to own.
Factors affecting the West Lakes Golf & Villas project
The 2019 Census in Ho Chi Minh City collects information in the form of 100% mobile electronic devices (CAPI) and internet surveys (Webform) The total population of Ho Chi Minh City at 0:00 on April 1, 2019 is 8,993,082 people, of which the male population is 4,381,242 (accounting for 48.7%) and the female population is 4,611,840 (accounting for 51.3%) Ho Chi Minh City is the most populous city, accounting for 9.35% of the country's population and 50.44% of the population of the Southeast The urban population is 7,125,497 people (accounting for 79.23%), the rural population is 1,867,585 people (accounting for 20.77%). Since 2009, the average annual population growth in rural areas is 4.47% per year compared to urban areas of 1.77% per year, indicating a strong urbanization rate. especially rural areas This is a positive factor for West Lakes Golf & Villas because when the inner city is facing a series of overpopulation, environmental pollution, flooding, traffic congestion, People tend to find space near the city to relax, where the distance and travel time are not too long, ensuring the regeneration of labor and rest Urban people need short time and low cost to alleviate those pressures and suburban resort tourism meets this.
The report is based on data analysis on VietnamWorks from January 1, 2017 to December 31, 2017 Based on the average minimum wage proposed by employers for employees, the economic center of the country is Ho Chi Minh City,which still holds the highest position in the average national salary Accordingly,the average minimum monthly salary of an employee is 456 USD, which is about10.3 million VND and equivalent to 124 million VND / employee / year The minimum average salary is about 38% higher than the average salary of the whole country (according to the General Statistics Office, the average salary ofVietnamese workers in 2017 is 6.5 million VND / person / month) Accordingly, Ho
Chi Minh City people have the highest income in the country Therefore, their abilities to buy to have second home live or to invest are high.
Savills Vietnam representative said that although the impact of the Covid-19 is expected to last until the end of 2020, the tourism and hotel services industry may be the first industry to recover strongly and quickly With the advantage of a majority of domestic tourists (82.5% of total visitors in 2019) and large foreign markets such as China and South Korea, these groups of guests are expected to quickly travel The schedule returns after the pandemic is under control Vietnam is still a great destination for tourists when it fully conveys favorable factors and continues to be appreciated in the eyes of international visitors thanks to its stable political background and the potential from natural wonders, stretching ocean advantages If the COVID-19 epidemic is well controlled in Vietnam, according to experts, tourism real estate is the type of fastest recovery thanks to large tourism demand In it, the upcoming story will be an explosion of unique products that incorporate new trends into future projects Projects creating experience in designing products will be particularly.interested.in.the.coming.time.,In,terms.of, investment,,developers,continue to choose the resort real estate segment to develop with a long-term orientation.
The "green" movement received a spectacular nudge when the words "fine dust" and "virus" became from mouth everywhere While the number of people buying masks is still long, real estate investors in offices and hotels have also planned to upgrade their buildings to protect people Investing in air quality and safety and hygiene is the key to increasing the competitiveness and sustainability of the property.
"The value of sustainability should not only be a trend, it must be the future of all real estate The next generation of buildings must be established," said StephenWyatt, General Manager of JLL Vietnam to "greener" integrate sustainable technologies to save operating costs and breakthrough design to attract tenants and talent.
Moreover, with the development of technology, marketing activities for a real estate project are also simpler and more accessible to customers, especially to maximize its strength in the season of isolation, isolation, banning gatherings like nowadays The form of consulting online exchange is applied at most trading floors and agents With the trend of selling real estate formed in the future, meaning that real estate products are still incomplete so some new technologies are applied in real estate marketing activities such as project visits, View model houses with virtual tables, view the perspective before finishing to help strengthen customer confidence, accelerate the decision making process to be more persuasive and more rational.
The People's Committee of Ho Chi Minh City has just approved the City Housing Development Plan for the period 2016-2020 in the direction of limiting the development of new projects in downtown and inner-city Saigon Accordingly, house prices may increase when HCMC restricts new projects to 2020 and when the old supply has been sold out, the market will fall into a shortage of housing products and this is the time when house prices may rise When housing prices in HCMC are too high and scarce, new product distribution maps may shift to suburban locations They are adjacent to or near Saigon such as Long An, Dong Nai, Vung Tau and Binh Duong because these areas are not restricted to develop new projects and land prices and housing prices are softer than HCMC.
Moreover, the Ministry of Natural Resources and Environment has sent a letter to the Department of Natural Resources and Environment of provinces and cities directly under the Central Government guiding the land use regime and the certification of construction work ownership for apartment projects such as travel (condotel), villa, office combined with accommodation (officetel) This action of the Ministry of Natural Resources and Environment is a good signal for the Vietnamese real estate market at the beginning of 2020, especially the resort real estate segment If this circular is officially implemented, it will be a great leverage for resort real estate, especially in the context that the market is deeply affected by the Covid-19 epidemic.
According to Mr Su Ngoc Khuong, senior director of Savills Vietnam, the secure in proactively increasing profits by owning one type of asset new as secondhome villa, condotel or officetel Issuing a “certificate” of the investor's ownership.
Recently, the Ministry of Natural Resources and Environment has sent a letter to the Department of Natural Resources and Environment of provinces and cities directly under the Central Government guiding the land use regime and the certification of construction work ownership for the project Condotel project, tourist villa, office and accommodation (officetel) According to Mr Khuong, this move of the Ministry of Natural Resources and Environment is a good signal for the Vietnamese real estate market at the beginning of 2020, especially the resort real estate segment If this circular is officially implemented, it will be a great leverage for resort real estate, especially in the context that the market is deeply affected by the Covid-19 epidemic.
Since ancient times, the common psychology and conception of the Vietnamese people is that they are "well-dressed and durable" and tend to leave their wealth to their children and grandchildren Especially the issues related to land and houses must be more complete and more thorough The Vietnamese promote their position and are influenced by the Chinese feng shui doctrine in their houses and land because they believe it affects the life, career, health of their families and ancestors Today these notions of Vietnamese people have not changed Therefore, the activities of buying, selling and investing in land and houses are a very thorough decision-making process and very careful inquiry, with references in many sources. Therefore, the role of the project developer in marketing activities is very important. The project development consultancy unit will, on behalf of the developer, develop all marketing and sales activities Exchanges and agents will assist customers in the buying decision process by consulting and providing all project information to customers carefully instead of online information.
According to Tuoi tre online magazine, Ho Chi Minh City investors prefer real estate for consumption and for rent, more than 80% said it is used for this purpose.More than 80% of real estate investors in Saigon prefer real estate that can be used for consumption (for rent) They have an investment style that aims at two parallel goals: bring a stable monthly cash flow and accumulate assets.
Real estate investors in Ho Chi Minh City mostly operate in a narrow range around Saigon or neighboring areas in the South They prefer to hunt for opportunities on "home turf" rather than fighting on "away" There are very few real estate investors in Ho Chi Minh City north or in the Central provinces.
Investors in Ho Chi Minh City are not keen on real estate prices too high. Saigon investors have a broader sense of real estate shopping They look for almost every segment: affordable, intermediate or high-end and luxury (luxury) However, the big difference is that they only down the money for the item with a reasonable price Saigon investors also bargain (negotiate prices) quite a lot.
The majority of southern investors do not have the habit of taking risks. Because of small and medium capital flows, the trend of investing over the budget often accounts for a relatively low rate They do not overplay their forehead but preserve the target, accepting stable and moderate profits.
PROPOSING MARKETING MIX PLAN FOR THE WEST LAKES
Case study
Urban golf course is an urban area built adjacent or in the golf course with full of utilities, of which the golf course is the main highlight Just like "river city" is the term coined by developers for projects, the main element is built next to the rivers. However, whether "urban golf course" or "riverside city" comes from the need of human possession, the desire to have a different, clean modern living environment.
Therefore, recently, the trend of real estate investment attached to golf courses is increasingly favored by investors This model integrates the two benefits of convalescence and fitness for the owners as well as increasing the value of real estate According to golf experts in the world, golf tourists spend more than 2 times compared to the norm of ordinary tourists This can be said to be a great opportunity to develop real estate (real estate) golf courses.
Taking advantage of the above advantages, in Vietnam in recent years, real estate golf courses, more specifically urban golf courses began to form The main type of product is a villa built in a resort style For example, in Bac Giang, there are Yen Dung Resort & Golf Club villas; Flamingo Dai Lai in Vinh Phuc; Danang BRG golf villa, FLC Quang Binh Beach & Golf Resort in Quang Binh, FLC Quy Nhon Beach & Golf Resort, FLC Ha Long Golf Club & Luxury Resort or Vinpearl Resort & Golf Nam Hoi An
From the above analysis, the author draws some conclusions as follows First,due to the different nature of the coastal resort real estate, the type of golf real estate possesses a different resort space with its own unique characteristics, showing class and satisfying passion for golf - subject "aristocratic" sport Therefore, golf real estate in general has always been a great attraction to the luxury customers segment.Therefore, the target customers of the golf villa series are mainly investors from HoChi Minh City and Hanoi due to the fact that the people here have the highest average income per capita country Moreover, people who live in big cities tend to have a better grasp of trends, and are more willing to update trends Secondly, for projects in the North, customers are mainly investors from Hanoi, HCM investors also participate but with a lower proportion In contrast, for projects in the Central and the South, customers in Ho Chi Minh City accounted for the highest proportion.Thus, for the West Lakes Golf & Villas project located in the south of the country,the author identified that the target customers are those who live in Ho Chi MinhCity area Thirdly, investors have gradually "allergic" to the phrase "profit commitment" because the legal status to protect the interests of investors is not high In case the investor does not follow the commitments, it will only handle according to civil law, so the owner does not receive much compensation Applying from the "Cocobay" Cocobay case or unclear legal projects of FLC investor.Therefore, customers have gradually lost faith in the investors' promises of profit commitment but need concrete and practical evidence Finally, through the data collected from the secondary data of the Research and Development Real EstateProject of BHS Group, the author summarizes the real estate trends in recent years briefly as follows From 2012 to 2014: real estate demand is large; From 2015 to2017: big demand for resort real estate; Between 2017 and now: the provinces land market Trends to attract investment in current types of real estate: Land plots,shops, adjacent villas, villas, resort real estate, apartments, etc Thus, it can be clearly seen that until now, the market has not There is a new type of real estate,replacing in the future Therefore, suburban resort real estate promises to be a new trend type of investment.
Table 4.1: Industrial zones in the West Lakes Golf & Villas region
Based on what has been analyzed in section 4.1, the author builds buyer persona of West Lakes Golf & Villas project including 3 types: Resident customers who are senior, golfer and investment customers
First, resident customers are people living in Long An province, in which,senior experts are an important type of customers because Long An is a province with strong economic growth, especially industrial economy, only in the vicinity of the project, West Lakes Golf & Villas has 6 industrial parks Therefore, Long An has a number of foreign experts coming to live and work in the top 'provinces' inVietnam Moreover, Long An is facing a difficult problem due to limited real estate supply and standards of living space of experts Through a joint survey, after a long day of working with rigid and stuffy machinery system, foreign experts and engineers have the desire to return to rest in a secure space, many utilities, many translations The service comes and there is a garden to walk around, enjoy the fresh air to regenerate energy for the new day Moreover, foreign tourists working inLong An also have foreign experts working in industrial parks in districts ofWestern Saigon such as Binh Chanh If Long An has high-class resorts to meet their needs, it certainly attracts this source of tourists, because the inner city of Saigon has been overloaded with population but seriously lacking in the resorts Typically, companies will arrange to rent houses to them and are willing to pay for $ 1,000- 2,000 / month Therefore, the target of customers targeting foreign experts working in Long An is perfectly reasonable
Secondly, golfers are also a type of customer that needs special attention West Lakes Golf & Villas is essentially a golf villa, so of course it will interest people who are interested in this sport With the characteristic of golf is the expensive cost players have to spend when participating in this subject These include fees for playing equipment: clubs, clubs, range finders, balls; The cost of a golf course or membership fee for clubs golf is a premium sport usually reserved for the upper clas
Finally, investors are also the main customers of the West Lakes Golf & Villas project For the investment customer, the author divided into 4 categories by geographic region: customers in Ho Chi Minh City, customers in Long An,customers in Hanoi and customers in other provinces The reason for choosing this type of customer is because this is a high-class customer, capable of paying for luxury resort real estate, in addition to customers who tend to catch trends fast,often update the new trend situation in Vietnam and internationally Obviously,golfer living in Ho Chi Minh City will account for the biggest percentage due to the fact that they have both finance and demand Investors in general will be the second because they have both finance and vision, thus, they will be attracted to the trend.According to all the above analysis and secondary data was collected from R&D department of BHS Group, the author divided the proportion of target customers of the West Lakes Golf & Villas project as the following table:
Table 4.2: The proportion of target customers of the West Lakes Golf & Villas project
Khách hàng tại Hà Nội Khách hàng tại Hồ Chí Minh Khách hàng tại Long An Các tỉnh thành khác
The table shows that Ho Chi Minh City has the biggest percentage of target customers which accounted for 50% In particularly, customers in Ho Chi Minh City that the author wants to concentrate in are golfers, investors and customers that are available in database of BHS Group Long An holds the second position with 25% includes: experts that live in nearby area and investors Third are customers in Hanoi with 20% which including investors and customers that available in database of BHS Group Final, customers in other provinces that hold just 2% As such, the author will not focus much on customers from other provinces, but will focus on analyzing and building a marketing mix strategy suitable for customers from Ho Chi Minh City, Hanoi and Long An
From the above analysis, in addition to geographical factors, the author analyzes the target customer portrait of the West Lakes Golf and Villas project as follows: first, this is the object of investment or second home ownership needs. Secondly, this customer has a good income because West Lakes Golf & Villas is a luxury product Next, the project's customers are people over the age of 30 because this is the age where people have gradually had a stable job, high income and need to use capital to invest profitably or want to own 2nd house to serve the needs of rest and relaxation of yourself and your family Moreover, in psychology factor,target customer of the West Lakes Golf & Villas will have the mentality of being an upgrade in life which including: the value of living space is resonated from a lot of factors from design, service Furthermore, the target customer would want to have this type of real estate product to express the living standard from the difference of a second and luxurious house right next to the international standard golf course.They can also be elderly people who are looking for a resort with a green environment, a classy, civilized community right next to Ho Chi Minh City.Specially, for the investors, they are paying special attention to the brand of the investor, the difference & scarcity of products, high profitability and liquidity.
Customer’s insight
From the analysis of the target customer portrait of the project, the author gives some comments on customer insight as follows Firstly, for customer that are residents, the main object of this customer is experts who live near nearby industrial zones One of the important issues when a foreign expert comes to Vietnam to work is accommodation Therefore, the search for houses for experts needs to be carefully and professionally consulted Along with that, housing services to support foreigners in the rental process should also be focused For a place of residence for a foreigner who is a high-class expert, it is usually required to meet the following criteria: Central area where there are many utilities; The area has good security and safety for life; Areas convenient for working, especially for experts who have to work in suburban areas far away from accommodation; Prioritize areas where the foreign community is living; Housing must be clean, cool and modern; Indoor facilities and amenities In addition, foreigners living and working in Vietnam often require the following basic utilities in urban areas such as gym; Pool; Indoor swimming pool for the winter; Restaurant; Restaurant; Brewery; Supermarket;Utility supermarket recently is the selection of suburban resorts Just having a quiet, fresh space, these suburban resorts also converge all the ideal elements towards a green - clean - beautiful life Why is the suburban resort the most livable place? Perhaps the trend of choosing real estate in suburban areas comes from the form of 'staycation' that has been favored by Americans and Europeans When choosing for yourself a suburban living space is when you choose to live with nature and fresh air This is also the trend that many high-income residents are choosing, away from the noisy, smoky, polluted center, especially when the air quality in big cities of Vietnam such as Hanoi or Ho Chi Minh City is at extremely dangerous level Especially fine dust is recommended by health experts as extremely hazardous to your health.Furthermore, this is resort real estate time In 2018, Vietnam welcomed nearly 13 million foreign visitors, in the first nine months of 2019, this number of visitors increased by 10.8% over the same period in 2018 The growth of tourists has helped boost the real estate resort market (tapchitaichinh.vn) As investors, of course they will grasp the trend and the actual needs of the market very quickly Therefore, it is easy to understand when the number of potential customers interested in the WestLakes Golf & Villas project for investment purpose is large.
Unique selling points of the West Lakes Golf & Villas project
Before C.S.Q CO decided to invest West Lakes Golf & Villas into a real estate project, this is just a normal golf course called Tan My However, in the future,West Lakes Golf & Villas will be the only project west of the Saigon outskirts within the golf course complex that has been in operation for 2 years In the past,this golf course had a total area of 120 hectares and was planned to build 105 hectares of 27-hole golf courses with 3 clusters, each cluster had 9 golf courses.Besides, the landscape was also a factor that made the golf course attractive and the natural high and low terrain created obstacles that only those with the right technique could overcome A unique and strange feature here is the appearance of surrounding lakes characterized by the west of the river on every golf hole,undulating fairway, unique bunker with all signatures of Thomson Perrett design.These new points give golfers the excitement to conquer challenges here This was also the pleasure that golfers desire when challenging themselves on new golf courses In addition to build a high-class golf course according to international standards, Tan My golf course also arranged more convenient services to meet all entertainment and recreation needs for tourists Up to 1.65 hectares was a construction area for golf clubs and golfers for those who wanted to exchange, share their experiences and passion for golf.
The investor also built a resort, hotel and catering services for visitors to visit and play with an area of about 2.18 ha The rest was the other amusement park with the golf course maintenance and repaired and provided very convenient golf equipment rental service Therefore, in addition to playing to satisfy the passion of golf, golfers would also enjoy a wonderful vacation with high-quality utility services and best customer service In addition, Long An golf course is designed by Thomson Perrett Company, one of the leading golf design companies in the world, with 250 successful projects globally, based in Melbourne, Australia Therefore, the yard structure is of international standard Long An golf course is designed according to the international standard PGA with a length of 7200 yards; a training ground with a width of 150 yards, 340 yards and 25 footbaths, 25 lines on grass and
Furthermore, Duc Hoa Golf Course is one of the first golf courses in the South of Vietnam to use the golf grass that is storming the industry - Zeon Zoysia for the fairway, besides the golf course design is also put into proper use Tifeagle grass(Bermuda grass) is perfectly suited to the climate of South Vietnam for putting green The proper use of these two grasses has created more stability for the pitch.Moreover, Tan My golf course was considered to have the leading utility inVietnam golf village Club house class: Club house is designed with an area of 3000 square meters, designed in a modern style, the golfers when coming here will definitely be attracted by meticulous design details, Luxurious and classy Club house features full features such as looker room, proshop, restaurant, etc to meet all the needs of customers in the most complete and fastest way Modern bar: Talking about the utilities of the club house, Mr Tu is very excited with a bar full of high quality draft beers and great strong wines Not only him, but almost men who come to this bar also love drinks here In addition, the bar also designs kiosks containing fast food, cold drinks for guests at holes 1, 6 and 14 Cold towels and air conditioning are available to help golfers cool down Excellent service quality: Duc Hoa Long An golf course is always ready to serve group,individual, professional events and tournaments with well-trained staff and customer support best VIP men's and women's changing rooms, with a sauna and includes a variety of dishes from different countries around the world such as Western countries, Korea, China, Japan and Vietnam Mr Tu added that he especially likes eating specialties of Nam Long An area, the taste is very specific and delicious The menu here is prepared and made by experienced chefs, so it always receives customer satisfaction.From that advantage, the project has a stable number of visitors, especially with the data provided by the investor, this golf complex often attracts a large number of foreign visitors on weekends
In addition, the project is developed by Tran Anh Group, a prestigious project developer and has experience in developing many existing urban areas in Long An such as La Villa Green City, Phúc An City, Bella Villa, Trần Anh Riverside, Long Phú Villa Therefore, the project has high potential to succeed because it is operated by a veteran unit, having a lot of experience in the Long An market.
SWOT
- The project is located in Long An, where the new transportation infrastructure is only at an early stage of development and expansion
- The inherent golf course of the investor only attracts a certain number of loyal visitors, has not focused on extensive marketing communications
- The number of guests in need of real accommodation is limited.
-The market has high purchasing power with land plot and fiscal space
- The project is located in a location with great potential for developing large industrial zones
- Is a new real estate product line that has its own attraction.
-The project is located right in the class golf course with 27 holes.
- The project is planned transport infrastructure in the near future, connecting with Tan Son Nhat airport and
-The US-China trade war affects the economic situation and real estate market
- There is a need to change the minds of existing investors about the new product line
- Customers no longer believe in committing to profits from resort real estate products
Based on the given swot analysis, it can be seen that the project has quite similar strengths, strengths, opportunities and challenges Need to supplement,continue to promote the strengths of the project by communication, seize opportunities and turn challenges into opportunities For challenges related to changing the minds of existing investors about new product lines or regaining customers' confidence in the resort real estate product line, a focus should be on communication , project marketing, together with the actual and drastic actions of the investor to prove reality to customers.
Product positioning
From the above analysis, the author locates the West Lakes Golf & Villas project as golf complex and the unique golf landscape in the west side of Sai Gon(Quần thể sân Golf và biệt thự nghỉ dưỡng ven đô duy nhất phía Tây Sài Gòn) with the purpose of bringing an "all - in - one" experience for customers and a frequent destination for the rich.
Proposing marketing mix plan for the West Lakes Golf & Villas project
Although the West Lakes Golf & Villas project has been conceptualized, completed infrastructure and built a model house However, after the process of basic research and survey, the author realized that there were many errors and many irrational points Therefore, the author proposes to edit the villa structure at West Lakes Golf & Villas.
First, when surveying the model house at West Lakes Golf & Villas, the author realized that the current situation of the model house still had many problems such as poor finishing, mismatched joints, carelessness, etc It may adversely affect the project because West Lakes Golf & Villas is aimed at high-end and high-class customers, but the actual product does not create a high-class, expensive feeling.Customers visiting the model house may feel frustrated, resulting in no interest in the project In addition, when looking more closely, the author found that the villa are only of middle class, not worthy of the position of the project Using non- high-class materials may reduce the value of the project On the other hand, about the decorative elements, the interior of the villa has not been subtly decorated For model products, model villas, room decoration plays a very important role It can create a warm, familiar feeling for customers but can also create aversion, reducing the ability to buy by visitors Based on the analysis, the author found that, for the model house, the investor needs to refine and refine the product, especially paying attention to the joints, wall paints, cornices, circuits connecting the bed side All details need to be paid close attention, absolutely do not make customers feel sloppy For decoration, the investor needs to change the room decoration for a more delicate and suitable, there should be a unified concept for the whole villa from the dining table, flowers, wardrobe, clothes in the cupboard, carpets, sofas, etc In addition, it is necessary to clean the leftover wood clusters on the wall, the toilet also needs to be very clean, paying attention to the smell, burning scented candles or wax scented, essential oil the whole house In addition, with the characteristics of the project is a golf resort, the project's customers will be passionate about this sport Therefore, the author proposes to decorate the model apartment in the style of
"golf life" - a working room combining a golf gallery For the tables and chairs being displayed in the model house made of felt material, the investor needs to replace it with a luxurious sofa set made of leather, creating a high-end feel for the project In addition, the investor can arrange a mini golf course for children in the second bedroom For master bedroom, you can burn a separate essential oil to create its own fragrance, creating a sense of relaxation For balcony space, investors need to replace the outdoor wood to ensure long-term quality for customers In addition, should arrange a small set of tables and chairs to drink tea with a hanging chair, flower baskets hanging on the balcony to help customers take full advantage of the space to rest and relax For balcony balustrades, it is necessary to change from iron railings to railing to frosted glass In addition, when customers visit the model house, sales need to turn on soft music, turn on the TVC to advertise on the investor, the projects that the investor has developed, images of the golf course, about West Lakes Golf & Villas, and especially need a yellow light to create a cozy atmosphere like "returning home".
Secondly, at the time of signing the contract with BHS, the investor has not developed a concept for internal facilities of the project Based on what has been analyzed above, the author proposes to build all in one utilities in the project as follows:
As you can see in Table 4.4, I propose the investor to build 10 utility complexes including swimming pool, gym, commercial center, Asia - Europe restaurant area, water park, park themed, hospitals, schools, golf clubhouse concepts, and casual clubhouse In particular, mandatory utilities such as swimming pools, schools, hospitals, make customers convenient, making the project a community of utilities, owning all the utilities that every customer need As for golf clubhouse utilities, because this is a product associated with positioning as a golf course, I want to build a golf club-style clubhouse to highlight the characteristics of the project In addition, there are still more clubhouse areas to serve residents. Water parks and theme parks are utilities aimed at families The guests come to West Lakes Golf & Villas not only to go with friends and partners but also take their families with them, so these two utilities are very suitable for families with young children, creating a fun space play for children, connect family.
Therefore, for villa products, the investor is currently divided into 3 types of multi-benefit and resort lines In particular, multi-benefit line has the purpose is serve customers to use of both business and relaxation Accordingly, the author proposes to put the villas of this line in the main roads for both rental purpose and resort purpose Customers can use multi-benefit villas to build such ultility as mentioned above This is also an advantage because there are no dining, shopping and commercial centers in the project, so it is necessary to create an "all-in-one" product for customers For the resort line, the author proposes to build according to the concept of garden houses, mini villas, detached garden villas, duplex garden villas to cater to customers who only need to stay.
In order to get a reasonable price for each villa of the West Lakes Golf & Villas project, the author surveyed and collected analytical materials from the R&D department of BHS Group, from which to cooperate with the sales department to Give a reasonable price for the product.
Table 4.5: Real estate price survey around the area
Table 4.6: Real estate price surveys with the golf course concept
From Table 4.5, it can be seen that when surveying real estate prices around Duc Hoa district, Long An province, the price of land plots on the main road surface ranges from 26.5 to 36, VND 5 million / m2 For small land plots, the price ranges from 6.75 to 8.5 million VND / m2 As for the price in the area adjacent to Binh Chanh, which is the construction site of the West Lakes Golf & Villas project, the price of large road surfaces ranges from 15-25 million VND / m2 and small road surface prices range from 3-5 million VND / m2 (for 300m2 lot)
Table 4.6 shows survey prices among competitors in the same segment. Flamigo villa golf line is sold for 40 billion VND / lot 360 m2 full interior Ho Tram golf villa costs 60 billion VND / lot 470 m2 full interior BRG Danang Golf Villa is sold at VND 17.5 billion / lot of 366 m2 full furnished And finally, Vinpearl Golfland villas cost 22 billion / lot of 400 m2 full interior.
Thus, in order to give the most suitable price for West Lakes Golf & Villas, the costs need to be built as follows:
6 Interest on bank loans = demand for capital + equity + loans + interest / year + time of borrowing
Thus, to be able to value the product, it is necessary to rely on many factors In addition to factors such as pre-sale expenses and selling expenses, it is necessary to refer to market prices, competitors' prices, etc
From there, the expected price is elaborated as follows:
Table 4.8: Expected price of West Lakes Golf & Villas
As you can see, this is the expected price list for semi-detached villas and mini villas adjacent to D1 street Obviously, the corner units are more expensive than the regular apartments because of their beautiful location, clear view, 2 fronts.
Real estate is a valuable asset, so to support customers, especially investors, investors can prepare and manage financially, policies on installment payment and cooperation Working with customer support banks is a practical solution The division of a specific roadmap, clear payment schedule not only helps customers in financial management but also avoids misleading, controversy when conflicts of interest between the part
This policy has a period of application of payment method: From October 29,
2019 until a new policy is replaced Subjects of application: For all customers who are individuals, organizations and businesses choosing West Lakes Golf & Villa project.
In addition, C.S.Q CO also has early payment discount for customers Customers who need to pay 95% of the value of the house (including VAT) in their own capital contract value (excluding VAT and excluding prices) Interior package value) - For customers who have signed a contract, within 30 days (from the date of signing the contract), the customer who pays before maturity (95% / total value of the contract) will receive a discount of 4% / total contract value (not yet Including VAT, excluding interior package value)
For customers wishing to lease to the investor, C.S.Q CO also encourages and has its own policy Conditions to apply: Customers select the full furniture package according to the handover standards of the investor and the operator - Standard of handing over the house: complete the interior according to the handover standard of the Investor / Operator (in case the customer does not register to buy interior finishing package, he / she will not be able to participate in the Trust program for hire from developer) - Eligibility: Customer pays at least 95% of the selling price of the house / villa (including VAT), the house is handed over and the house / villa is put into operation for renting
Option 1: Pay the commitment income from the Trust Leasing program - every 6 months for the first 2 years - Time of Rental Authorization: 10 years from the date the house / villa is put into operation for lease - Committed income: 2 years from the date when the customer pays at least 95% of the selling price of the house / villa (including VAT) and the house / villa is put into operation and leasing - The commitment of house rental income: Customer receives a profit equivalent to 8% / year within 2 years of commitment on the selling price of the house (excluding VAT and value of interior package) In case the customer pays in advance the schedule and at least 95% of the selling price of the house / villa (including VAT), the income of the house / villa rent is still calculated 8% / year over 100 % of selling price of house / villa (excluding VAT and value of interior package)
Option 2: Pay immediately the 2-year income commitment from the rental program
- Rental mandate period: 10 years from the date the house / villa is put into operation for lease