Singapore’s CapitaLand offers ‘buy now, pay later’ plan for Vietnamese residential project to entice Hong Kong investors
- CapitaLand Development is offering a 30:70 payment scheme to buyers of flats at its Zenity residential project in Ho Chi Minh City
- Fifty-nine fully furnished units, ranging from two-bedroom flats to penthouses, are available for buyers in Hong Kong at prices starting from US$446,000
Singapore’s CapitaLand Development (CLD) has rolled out a “buy now, pay later” scheme for a residential project in Vietnam amid slowing residential sales in the Southeast Asian country.
Under the scheme, units at the riverside project situated in District 1, close to Nguyen Hue Walking Street and Ben Thanh Market, can be handed over to buyers upon 30 per cent down payment. That means 10 per cent upon signing of the sale and purchase agreement and 20 per cent in the third quarter. The rest can be paid by end-September 2024.
The payment plan is available to both foreign investors and local buyers. Foreigners, however, would not be eligible for mortgage loans in Vietnam under local regulations.
“You can actually pay 30 per cent now and move in,” said Kingston Lai, CEO of Hong Kong-based Asia Bankers Club, Golden Emperor and Ashton Hawks, the sole group selling the flats to foreign buyers. CLD “brings in innovation not just in terms of product features, but they are also raising the bar by making it more exciting for investors,” he said.