Hot spots of the real estate market in Ho Chi Minh City from now to 2030

Minh Hoàng
April 24, 2021

Thu Duc City, converting 4 districts into districts and 26,000 hectares of converted agricultural land will lead the real estate market in Ho Chi Minh City from now to 2030.

– According to Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association (HoREA), from now to 2030, the real estate market in Ho Chi Minh City will have at least 3 new hotspots to lead the housing supply.

– These regions have strong urban development and development progress. The development of urban infrastructure systems, transport infrastructure in these locations will add resources to the socio-economic development and the HCMC real estate market recovers, grows faster and sustainably. stronger, both in the medium and long term.

Thu Duc city

– Thu Duc city was formed on the basis of merging three districts, including district 2, district 9, and Thu Duc district. This city will have an area of ​​more than 211 km2, a population of more than one million people, equal to 10% of the area and about 10% of the population of the whole Ho Chi Minh City.

– As the gateway to the east of Ho Chi Minh City, Thu Duc city has many inherent advantages in transport infrastructure directly connected with the Southeastern provinces such as Dong Nai, Binh Duong, and Ba Ria. -Vung Tau. This place is also connected to the synchronous infrastructure system such as Ben Thanh – Suoi Tien metro line, Long Thanh – Dau Giay expressway, arterial traffic routes such as Highway 1, Hanoi highway, Pham Van Dong street …

Thu Duc City will become a hot spot for real estate development in Ho Chi Minh City. Photo: PD

– Thu Duc city is also the most dynamic and developed economic region in the country with hundreds of leading large industrial zones gathered here. Thu Duc City, after being established, will act as a center for the implementation of the closed scientific – technical, infrastructure and commercial model.

– With the existing advantages, the new administrative unit of Ho Chi Minh City is expected to be the nuclear boosting the city’s economy and the southern key economic region. Thu Duc City is expected to contribute 30% of GRDP to Ho Chi Minh City and account for 7% of the country’s GDP.

– “The project to establish Thu Duc city in Ho Chi Minh City is a creative and highly interactive city, grade 1 city. It has an economic scale of about 7-8% of the national GDP, accounting for 1 / 3 GRDP of HCMC. The establishment of Thu Duc city goes hand in hand with the goal of building Ho Chi Minh City into a smart city ”, Mr. Chau said.

Convert 4 districts into districts

– According to President HoREA, the second hot spot is the project to convert 4 districts into districts of Ho Chi Minh City in the next 10 years.

– In which, Cu Chi district has an area of ​​43,000 hectares, of which 14,000 hectares are agricultural land (accounting for about 32% of the total area). According to forecasts by 2025, Cu Chi will only have 4% of the total number of households working in agriculture.

– Hoc Mon district has an area of ​​nearly 11,000 ha, agricultural land is 2,200 ha (accounting for more than 21% of the total area). By 2025, it is expected that only 0.6% of Hoc Mon households, or about 1,200 people, will work in agriculture. By 2030, only 619 people will work in agriculture.

– Binh Chanh district has an area of ​​25,000 ha, agricultural land about 7,900 ha, accounting for 31% of the total area. By 2025, the number of households still working in agriculture is only 0.4% of the total number of households. Agricultural productivity is lowest compared to industry and services.

Nha Be district is expected to move to the prefectural districts of Binh Chanh, Hoc Mon and Cu Chi. Photo: Internet

– Similarly, Nha Be district to 2025 will have only 109 households working in agriculture, the rate is 0.1%. It is forecasted that by 2030, Nha Be will not have any households working in agriculture. Thus, in terms of land structure, Nha Be is no longer a district.

– “In addition, it is completely possible to transform Can Gio district into a marine city, an ecological city, an environmental city associated with the strict protection of the world biosphere reserve of mangroves (Forests). Sac Can Gio) in the coming years ”, Mr. Chau informed.

– It is known that Can Gio district has the area of ​​agricultural and forestry land accounting for 60%, by 2025 there will be about 3,000 households working in agriculture, accounting for 18% of the households. Currently, Can Gio is the only locality in Ho Chi Minh City where the proportion of people working in agriculture is consistent with the structure of a district.

Convert 26,000 hectares of agricultural land

– HoREA President said that the third hot spot to help the real estate market develop is that the Government has decided to allow Ho Chi Minh City to convert 26,000 hectares of agricultural land into industrial, commercial, service, urban land. housing period 2016-2020. This is a huge resource, creating capital for HCM City to develop.

Ho Chi Minh City was allowed to convert 26,000 hectares of agricultural land. Photo: Internet

– The location of this 26,000 ha is scattered in most districts and the agricultural land fund, of which most is land managed and used by households, only partially is state land.

– In terms of current situation, part of the area is still under agricultural cultivation, and part cannot be cultivated due to the urbanization process, so the soil conditions, irrigation … are no longer suitable. For example, agricultural land plots are interspersed in residential areas; Some areas, such as Nha Be, are heavily contaminated with alum and cannot grow rice or be converted to other crops.

– “The fact has proved that 1 ha of industrial, commercial, service and urban land creates more than 100 times more value than 1 ha of agricultural land”, Mr. Chau acknowledged.

Source: Phan Dieu