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Apartments — Projects Distributed by HPR
Apartments are a popular choice for first-time buyers in the city. Here is what to know before you commit, with the list of apartment projects HPR advises on.
Apartments suit people who want to live close to work, need ready-made amenities and good security. The initial budget is usually lower than for a townhouse in the same area. In return, you own your unit privately and share many parts of the building with other owners.
Why buyers look at apartments
- Moderate budget. In the same location, apartments usually cost less than townhouses or villas. Many projects allow payment by construction progress and have bank loan support.
- Shared amenities. A swimming pool, park, children's playground and supermarket downstairs make daily life easier.
- Central security and management. The management board handles security, cleaning and maintenance. You rarely have to deal with repairs to common areas yourself.
- Easy to rent out. Apartments near industrial parks, offices and universities usually have steady rental demand. Rents and vacancy periods vary by area.
- Clearer buyer protection. The 2023 Real Estate Business Law (effective from 1 August 2024) limits the deposit for off-plan homes to no more than 5% of the sale price. The first payment may not exceed 30% of the contract value, including the deposit.
What to check before you buy
- Project legal status: construction permit, approval to sell off-plan homes, bank guarantee. For completed units, ask about progress on issuing the pink book (land use right & ownership certificate).
- Area stated in the contract: net area is the part you actually use. Compare prices using the same measurement.
- Management, parking and maintenance fees: ask about the management fee rate, car and motorbike parking fees, and the common-area maintenance fund payable at handover.
- Resident density and lifts: number of units per floor and number of lifts. Long waits for the lift at rush hour are a common complaint among residents.
- Orientation, floor and view: west-facing units get the afternoon sun, and low-floor units near main roads are noisier. See the real thing if the building is already built.
How HPR can help
The list of apartment projects HPR distributes is right below. HPR consultants will send you current price lists and sales policies, and prepare a comparison based on your budget. You can work out your home-buying cash flow, check a project's legal status, or consign an apartment you own for resale.
