Escalating land prices and construction material costs, and the welcome supply of many luxury products have boosted prices for the real estate market.
Cushman & Wakefield's high-rise market report in the first quarter showed that the primary price of apartments in Ho Chi Minh City still maintained an upward momentum. The price of new apartments for sale in the city reached 3,300 USD per m2 (equivalent to 75.4 million VND), up 27% YoY.
Also according to Cushman & Wakefield, apartment prices in Ho Chi Minh City increased mainly due to land prices, escalating costs of construction materials, and a long time to complete legal procedures. In addition, the market received many products in the luxury and even ultra-luxury segments, which pushed the average house price of the whole market to peak. A number of real estate projects in District 1 announced for sale within 2 years have created a new price level for the market in this area.
View of Saigon River Grand Marina project
Besides the potential for price increase, the profit from renting apartments also received positive signs. According to a report by Savills in the second quarter, the rental capacity of serviced apartments has reached 74% in Ho Chi Minh City. According to a survey by VnExpress, the rent of serviced apartments in District 1 and some other central districts has increased by 6-8% over the same period last year.
Due to the development of infrastructure and services along with the convenience for business and negotiation activities, District 1 is often chosen by luxury tourists, experts, businessmen, foreign artists or overseas Vietnamese. , creating a great demand for the segment of high-end apartments with exploitation for rent.
According to investors, owning a luxury apartment in the center of a big city is a way to show the level of success and sophistication, bringing convenience to work and life for product owners. That is also the reason why projects like Grand Marina Saigon (2 Ton Duc Thang, District 1, Ho Chi Minh City) invested and developed by Masterise Group receive attention.
Green space inside Grand Marina Saigon
A representative of Masterise Group said that Grand Marina Saigon meets the "strict" standards for housing of the super-rich and investors who want to aim for profit. Because the project converges factors that are located in the center of Ho Chi Minh City, two fronts of the street, bringing creative experiences of individuals among a civilized community. This can be seen as an important highlight to help the project own the potential for price increase.
Life at Grand Marina Saigon can meet the diverse needs of Asian-European cuisine for apartment owners from brands such as Phin Deli, Gloria Jean's Coffees, Crustal Jade, Jumbo, Dynasty and many others. part of the Marriott International ecosystem. For the needs of relaxation, regeneration and health promotion, Grand Marina Saigon has a full swimming pool, gym, yoga, internal park or green campus.
800m Saigon riverside road of Grand Marina Saigon
The project also integrates a 5-star hotel of the world's largest hotel management group - Marriott International right in the residential area Grand Marina apartment Saigon. With the provision of world-class accommodation and relaxation services, the hotel promises to be a favorite place for many domestic and foreign businessmen.
