Apartment prices in Ho Chi Minh City increased dramatically and the wave of real estate hunting in satellite cities

Minh Hoàng
April 19, 2021

In Ho Chi Minh City, a number of apartments in the central core area of District 1 are offering for sale at the price of 400 – 600 million / m2. In the city. Thu Duc, a few apartments have reached 100 million / m2. Where will the coming wave of investors go when seeing real estate prices soar?

Land prices increased dramatically

– Recently, an apartment project in the central core area of ​​District 1 was offered in Hong Kong with a starting price of 1 million USD / unit, equivalent to 423 million VND / m2.

– In Thu Duc City (Ho Chi Minh City), in 2020, the selling price of some apartment projects around Vo Van Ngan and Dang Van Bi roads ranges from 35-40 million VND / m2, earlier this year some The project has recorded prices up to 100 million VND / m2.

– Currently, many apartment projects in Di An, Thuan An with prices from 37-45 million / m2 have been accepted and absorbed by the market. It is difficult to predict in the long term, but many experts believe that apartment prices here will probably continue to increase in 2021 and reach the milestone of 50-60 million / m2 with high-end projects.

– The apartment was like that, townhouse prices and residential land also danced along with fluctuations in purchasing power. In Di An, 3 years ago, a townhouse project was for sale for about 20 million / m2, after this locality officially went to the city, the price increased by more than 45-60 million / m2, especially in the area. adjacent to Ho Chi Minh City falls at 75-90 million / m2. It is expected that by the end of 2021, the price of townhouses in this area will increase.

What is behind the rise in real estate prices?

– According to the report of Batdongsan.com.vn, in Q1 / 2021 alone, the number of users searching for real estate products increased sharply nationwide, even considered the highest increase in the past 4 years. here.

– The scarcity factor associated with the Vietnamese tradition of preferring land ownership has caused the selling price of townhouses and land plots in the central area to continuously escalate. The excitement quickly spread to satellite cities with complete infrastructure and densely populated areas like TP. Di An is directly adjacent to the city. Thu Duc. Current investors are constantly hunting for new opportunities and confidently “go down money” to accept high prices if the project is “worthwhile” and often concentrate in the central business district, existing residents.

It is expected that in June 2021, traffic will be opened on DT743 road with the scale of 6-8 lanes

– The reason that Di An real estate prices have consistently peaked in recent years is because the room for price increases is still very high thanks to the policy of infrastructure development, the process of urbanization attracting the population. Not just being on the plan or just “pregnant”, in 2021, Binh Duong will finish many key transport infrastructure projects that are of very important significance in economic development. The first to mention is the traffic traffic of the whole My Phuoc – Tan Van route – the “backbone” traffic axis in the North – South direction of the province. This is also a quick route connecting with Long Thanh airport. In June 2021, will open traffic on the DT743 route with a scale of 6-8 lanes from Ong Cu shrine to the intersection of Song Than overpass and start the construction of the overpass at intersection 550.

– In addition, the establishment of the city. Thu Duc also contributes to attracting investment and personnel to Binh Duong. Di An and Thuan An become a very suitable choice to live and work.

Identify opportunities in satellite city

– In the context of the high supply of apartments in Binh Duong, many investors are actively hunting for real value townhouses projects that are scarce in central areas where infrastructure is complete and existing residents like Di. An, the price may be slightly higher than other areas but “worth it”. Including Icon Central urban, completed legal, commercial ready-built townhouses located at No. 5, Tan Dong Hiep ward, Di An city.

– Ms. Thu Ngan – an investor in Ho Chi Minh City shared: “According to my investment experience, where the infrastructure is complete, the existing residential area, the central area, the amplitude of the price increase is better, the purchase price is better. The starting point could be high but worth it. I think Icon Central is similar to a Cityland in Di An, worth the investment ”.

In April 2021, Icon Central handed over the shophouse and opened Trung Nguyen E-Coffee

– Just over 1 year of implementing the infrastructure, but up to now, the appearance of the project has completely changed, bringing new vitality to the young city and becoming a gathering place for entertainment and sports of Binh Duong people.

– Ms. Vu Thi Oanh – resident of Tan Dong Hiep ward, said that Icon Central is the area of the ward, since the project was built, residents have parks to play, the appearance of the ward has also changed a lot more vibrantly.

The park at Icon Central

– In the second quarter of 2021, Danh Viet Group will in turn hand over the shophouse and coordinate with customers to open commercial chains – dining here, opening a shopping and entertainment point that is synchronized to serve people. people in Binh Duong. One of the first F&B brands at Icon Central is Trung Nguyen E-Coffee brand, scheduled to open in April 2021, to take advantage of the dense population here and future Icon Central residents.

Source: BATDONGSAN.COM.VN

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