Forecast of real estate prices in East Saigon Area 2021

Some industry experts believe that the information on the establishment of "Thu Duc City" under Ho Chi Minh City will create a big boost to real estate prices in this area. Forecast of a new price level will be established in the future.

 

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Deputy Prime Minister agrees to establish Thu Duc City - Masterise Homes projects benefit?

Rapid price increase in the past 3 years

Undeniably, the area of ​​District 2, District 9, and Thu Duc District is an area with a rapid increase in real estate prices in recent years. This is also an area that has "strongly" invested in transport infrastructure compared to other areas. According to CBRE's previous research, the housing price level in some areas in District 2 and District 9 increased 2 to 3 times over the past 3 years.

The record shows that, in the period 2017-2018, the real estate market in this area witnessed a housing price fever, causing the price level in all segments to increase by about 30-50% compared to the same period last year. There are even some areas where land prices increase by 60-70% within a year. When the market slowed down for about 2 years now, real estate prices in this area still tend to increase but at a slight level. The price increase has caused many plots of land to have a milestone of about 300-500 million in 2015, after 4 years, it has increased to 2.3-2.7 billion VND/plot (in District 9 area).

 

Currently, it is difficult to find land in the East Saigon area of ​​under 2 billion VND, even the land in the small alley is no longer this price.

According to a survey in District 9 alone, in the past 5 years, housing prices in this area have shown signs of galloping up. Real demand has also been concentrated in this area for more than a year now. According to the survey, the price of land in front of Do Xuan Hop Street, District 9, Ho Chi Minh City is being sold for several hundred million per square meter. The piece of land in front of Do Xuan Hop street, near Binh Thai intersection with an area of ​​more than 1,000 m2 is offered for 130 million VND/m2. The seller introduces land with pink book, convenient in opening supermarkets, trading business.

A plot of land belonging to another project with an area of 125 m2 is also offered for 158 million VND/m2. Many other areas are advertised at lower prices, averaging about 80-90 million VND/m2. However, there are also plots of land in residential areas that are only about 20 - 30 million VND/m2 because there is no frontage, no book or other legal problems.

In other areas such as Long Truong, Long Phuoc, and Truong Thanh, the lowest price is about 40 million VND/m2, the highest is about 65 million VND/m2 (depending on the location of the facade or alley). In the past, there were many real estate investors who won big in this area market when land prices fluctuated continuously.

 

While in District 2, the price of land plots is not lower than 70 million VND/m2, 4-5 times higher than 3-4 years ago.

As soon as the information of the project to establish a city in the East of Ho Chi Minh City, the real estate market here has moved. Recently, when the Deputy Prime Minister officially approved the policy of establishing "Thu Duc City", the direct impact on the real estate market was clearly seen.

According to Mr. Nguyen Hoang, Director of DKRA Vietnam's R&D department, in the immediate future, the economic impact may be temporarily invisible, but the impact on the real estate market is always first. This will be positive information for investors to take advantage of to increase advertising, attract buyers, ... for projects in the area, thereby pushing the price level to a new level.

According to this expert, it is not too early to expect real estate in the region to explode after the news of the establishment of "Thu Duc City", because in fact, the real estate market has begun to record positive developments. direct impact.

Although it is still not possible to envision what a "city within a city" looks like. Meanwhile, with only the establishment of the Eastern city, many investors took advantage of the opportunity to advertise to improve the value of real estate projects and thereby increase the price of real estate in the area in general.

“If there is still no specific planning and the current situation continues, I am afraid that in the next 5 years, this place will become an urban area of people with financial conditions with real estate prices too high compared to other areas. with the common ground of the city", Mr. Hoang emphasized.

According to Ms. Nguyen Thi Thanh Huong, CEO of Dai Phuc Land, the establishment of Thu Duc City according to the positioning of an innovative urban area and a new economic development center of the city will be a lever to attract investment resources. and create a strong driving force for the development of this area in the near future. Accordingly, real estate prices will also go up, in which projects that are well planned and large enough to meet the living quality of people still have great advantages in the market both in terms of price and quality. transaction.

In fact, in recent years, the East area of Ho Chi Minh City has been the area where the city has invested the most in transport infrastructure. According to statistics in the period 2010-2020, Ho Chi Minh City deployed 216 transport infrastructure projects, with a total capital of 350,000 billion VND, 70% of which are connected to the East area.

Along with the wave of infrastructure acceleration, the planning information of the East area to become a city directly under Ho Chi Minh City has become a great force to change the entire socio-economic face of Ho Chi Minh City in general, the area. East in particular. In which, promoting the growth of the real estate market is understandable.

According to experts, in order to develop satellite urban areas, Ho Chi Minh City needs to transform faster into an international center of finance and services (health, education, tourism) at a high level. Restructuring the economic space, reducing the unskilled labor force, not developing low-level processing factories, but focusing on developing industrial parks, high-tech parks, software zones, etc. biotechnology zone. Gradually expand unskilled workers to the outer belt, encroaching on Binh Duong, Long An, Dong Nai; simultaneously with the promotion of industrial development in the central provinces so that workers do not have to move to Ho Chi Minh City.

 

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Masterise Homes apartment will have a competitive and reasonable price

 

THowever, according to industry experts, the establishment of the City should not be relied on. Thu Duc Street to push prices or blow up real estate prices too high. The valuation of real estate must harmonize the interests of both buyers and sellers. The price and value of real estate must be commensurate with each other to be accepted by the market.

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