Saigon – High-class apartment in the East of Ho Chi Minh City increased rapidly

High-class apartments in East Saigon increased rapidly, on average, the price of luxury apartments in the East Saigon area in the period 2017 to 2019 increased by 45% on average.

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That's the new statistic updated in a market report of Batdongsan.com.vn. This is the area that is said to have the strongest increase in real estate prices in Ho Chi Minh City in recent years, especially in District 2.

Statistics show that, in the first quarter of 2017, the average apartment price in this area was about 29 million VND/m2 by the fourth quarter of 2018 it increased to 38 million VND/m2 and reached 41 million VND/m2 in the fourth quarter of 2019. .

The eastern area is the area that has been invested the most in transport infrastructure, along with information on the establishment of Thu Duc City on the basis of merging District 2, District 9 and Thu Duc District. Among these 3 districts, high-end apartments in District 2 have the highest price level and also the area with the highest apartment price growth rate of about 15% per year, higher than 7-9% of the whole city. .

Also according to Batdongsan.com.vn, Thu Thiem is the place where the price of luxury apartments has skyrocketed in the past 3 years. From an average of about 40 million dong/m2 in 2017, to the second quarter of 2018 it was 58 million dong/m2, especially skyrocketing 2 times by the end of 2019 ranging from 80-120 million dong/m2.

For example, the price of apartments in Diamond Island area in 2017 was about 58-60 million VND/m2, but now it has increased to about 127 million VND/m2. Similar to another project in Thanh My Loi area, the secondary price in early 2017 was only 40 million VND/m2, in 2019 the price increased to 57 million VND/m2.

In District 9 and Thu Duc, the price of luxury apartments is lower than in District 2, but according to Batdongsan.com.vn, the average price level has also increased by 30-50% in the past 3 years. Currently, the price of luxury apartments in this area ranges from 40-45 million/m2.

According to some real estate experts, the reason real estate in the East Saigon area in general and luxury apartments in particular has increased rapidly in recent years is because this area has been invested heavily. in terms of transport infrastructure, urban development boom. From 2010 to now, the city has implemented 216 major traffic projects with a total investment of 350,000 billion VND, of which up to 7) % of projects connecting to the East such as Hanoi Highway expansion, Ho Chi Minh City expressway - Long Thanh - Dau Giay, Metro Ben Thanh - Suoi Tien, My Thuy intersection, bridge over Diamond Island, ...

The real estate market in this area will continue to develop actively and grow in the future when it is announced that Thu Duc City will be established with the merger of District 2, District 9 and Thu Duc District. According to the assessment of Batdongsan.com.vn, large planning projects are the driving force for real estate in the East of Ho Chi Minh City to continue to grow. Some real estate projects are planning to be offered to the market, which are expected to continue to increase in price by 5-10% in the upcoming sale.

Currently, a number of apartment projects along Dong Van Cong and Hanoi Highways tend to increase from 300-400 million VND each compared to the beginning of 2019. Many apartments have starting prices of 30-35 million VND. /m2 in 2019 has increased to 37-40 million VND/m2

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