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Vietnam real estates sold online to attract investors

15:12 | 23/04/2020

As the Covid-19 develops in a more complicated way, in order to save the business, many real estate businesses have been proactively innovating "sales tactics" to adapt to the challenges such as selling apps and online channels. 

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vietnam real estates sold online to attract investors
Real estate selling app (Photo: CST Soft)

Since the beginning of the year, the Covid-19 epidemic has had a significant impact on all aspects of life and society. Under the impact of the epidemic, the real estate market has also been severely affected. Trading on the market almost got frozen due to the need to limit crowds.

According to statistics, there are about 1,000 exchanges closed, many investors have to postpone sales plans. Not only that, many real estate businesses had to turn to "hibernation", restructure the organization, reduce personnel and many other expenses...to preserve the operation of the business.

However, the time of social gap is an appropriate time for investors as well as customers to spend time to thoroughly consider and understand the products. In fact, this demand is very large, prompting businesses to innovate their business by launching an online real estate transaction site to meet customers' needs.

At the forefront of implementing this method in real estate recently, Sunshine Group is probably worth mentioned.

Right from January 1, 2020, Sunshine Group has launched Sunshine App which integrates two big demands of customers: home buying and real estate investment. At this time, the Covid-19 epidemic appeared in China and was alerted to neighboring countries, including Vietnam. However, at this time the market has not really paid attention to buying houses online, and investing in real estate online.

Only a while later, when the Covid -19 epidemic began spreading to many countries, Vietnam had 16 cases in just a few days before the Lunar New Year and gradually the disease became more and more complicated. Made many real estate businesses face difficulties because they could not reach customers. During that time, Sunshine Group had the best sales.

Notably, Sunshine Group is now promoting online investment channels through Sunshine App. Accordingly, completely different from ordinary apartment investment, investors only need to spend the lowest investment of VND 100 million (US$4,240) to own a part of an apartment or a villa with prices from several billion up to several tens of billion dong, according to Financial Magazine.

Through this app, customers interested in Sunshine Group's projects can now fully find out themselves the project’s information and select the unit’s size and shape, as well as review perspectives of the apartment. They can also close transactions, settle payments, and even join the lucky-draw which are all executed via smartphone swiftly and efficiently. The traditional sales opening ceremonies that have been physical events for decades have now been updated into the digital sphere via the Sunshine App.

vietnam real estates sold online to attract investors
(Photo: CafeF)

After Sunshine Group, Vinhomes has recently officially announced Vinhomes Online.

Vinhomes Online is an online real estate business model, high technology application, connecting directly between investors and customers through computer screens or phones.

On the platform of multimedia integration, customers can perform the whole process of buying houses remotely with the "3 most" benefits: the most convenient, fastest and lowest cost.

To ensure superiority, Vinhomes Online real estate e-commerce platform is smartly and scientifically designed. All information on the location, planning as well as sales documents of the projects on sale in Vinhomes Online are published fully and in detail.

Most recently, or more accurately, at the time of the launch of Vinhomes online trading platform, Gamuda Land, the real estate investor from Malaysia with the green urban area Gamuda Gardens has also launched a transaction real estate online Gamudacity.com.vn/onlinedeals, specializing in distributing projects under the Gamuda Land brand to meet the needs of customers.

Online real estate transaction site Gamudacity.com.vn/onlinedeals was launched on April 9, 2020. It is not just an advertising website, the page is an information system directly linked to the real estate sales system, ensuring fast interaction, and meeting thousands of visitors at the same time. The transaction system is secure and does not interact directly with the database.

When accessing the online trading site Gamudacity.com.vn/gl-onlinedeals, customers are provided with accurate, honest and instant image information of each housing project around the world with the area houses, and trendy designs that customers want to buy. The page will also display all the information and sales policies of each project at different times, according to Financial Magazine.

“The purchasing power in real estate market is still good. We launched an online transaction page so that even though our customers sit at home, they will still buy nice houses at good prices”, said Gamuda Land representative.

In addition to the above businesses, a series of other businesses have also "quickly" joined the sales race by technology.

vietnam real estates sold online to attract investors
(Photo: Real Estate)

Mr. Pham Thanh Hung - Vice Chairman of the Board of Directors of CenGroup said Cengroup has just poured US $ 1 million into Revex technology platform - online real estate investment.

According to Mr. Hung, thanks to quickly adapting and converting numbers in the present time, Cengroup is the best trading unit, and is almost the only trading platform in Vietnam still operating well. Although employees must work from home, the corporation still has adaptive solutions. "We have not had to reduce personnel because of the disease," Mr. Hung stressed.

A Sunshine Group representative said that the Covid-19 epidemic had affected customers' buying behavior, the number of access on Sunshine App has increased exponentially in the past 3 months. Currently, the number of visitors with peak days reaches hundreds of thousands of times, transactions also tend to increase strongly.

"By the end of March and early April, although the national isolation order made the real estate enterprises struggling, we recorded nearly 500 successful transactions. This may be a modest figure in the market conditions." Sunshine Group said.

The disease has been a true challenge prompting businesses to speed up digitalisation. Many projects in the market have deployed resident apps offering eminent features like paying management fees, utility bills, making service reservations, calling technical staff, and immediately contacting the building’s management board.

Alongside with residential service, the Sunshine Group representative affirmed that apps like the Sunshine App prioritise real estate trading and management for investors to save costs for both customers and developers, thereby reducing the price tags on the final products, delivering real values to customers and stakeholders across the full value chain.

However, in order for the apps or virtual platforms to come into play at full capacity, they need not only be flexible and resilient to market fluctuations but should build upon powerful economic potentials and solid technological foundations of real estate developers. "Cyber property sales" is going to be a long-term trend, not only a situational solution to cope with the current pandemic.

Online marketing channels are not launched overnight – they have to go through a process of research and constant development to create the best experience for users. While online selling channels in Vietnam real estate market grow strongly, only investors who are well-prepared can foresee the market and earn best revenues, reported by VIR.

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