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In the segment of apartments, the majority of new projects offered in the quarter belongs to the mid-end segment. It is expected that at the end of 1/2018, Stown Thu Duc – a large scale project of Tecco Saigon Joint Stock Company (STC Corporation) officially opened 293 apartments with the price from VND16.9 to 19.5 million / sqm (excluding VAT). The project is located in front of Binh Chieu Street, Binh Chieu Ward, Thu Duc District, Ho Chi Minh.
Also in January, the Thuduc Housing Development Corporation’s Centum Wealth project will expand. Centum Wealth has nearly 600 apartments area from 55-89m2, located in front of Phan Chu Trinh Street (Hiep Phu Ward, District 9). The estimated price of apartments is from VND23-26 million/sqm. Representative Thu Duc House said, in 2018, this unit will launch two new projects “new” in the East (unspecified name).
Similarly, in the first quarter of 2018, Hung Thinh investor will announce the 9X CIAO project in District 9 with more than 3,000 apartments. An estimated selling price of apartments in the project ranges from VND 1.1 to 1.7 billion / unit.
Besides the mid-end apartment projects, the East market will also welcome more luxury apartment projects. According to information from the Green Land Group, around early March 2018, this company will introduce the project Gem Riverside in District 2. The project is located in South Rach Chiec, An Phu Ward consists of 12 towers with more than 3,000 apartments. The expected price of the apartments here is from VND35 million / sqm.
In addition, it is expected that in the first quarter of 2018, the investor of Frasers Centrepoint will officially open the first phase of apartment project Thao Dien with many attractive incentives. The average price of the apartment here will be around $3,000 / m2 (from 60 to 70 million/sqm).
In addition to the apartment projects mentioned above, some villas, townhouses and land plots were also planned by the developer in the first quarter. On January 21, the Novaland Group will officially Be Introducing the high-end residential complex Victoria Village (Dong Van Cong, District 2). The project includes 92 commercial townhouses and villas. In which the single letter, duplex stand area from 160sqm -394sqm is offered from VND18.5 to 22 billion per unit. Commercial houses cost from VND19.5 to 20 billion per unit.
After a long sticking to the land market in Long An, to January 1/1818, Cat Tuong Group has “attacked” real estate in East Saigon with the land project River View (Cat Lai, District 2). According to this unit, the land in the project area from 75-160sqm, the price from VND32 million / sqm, or about VND2.4-5 billion / base. An Viet company also said that in March, the company will offer about 300 ground for An Viet KDC project at Nguyen Xien street (Thanh Ward, District 9) with the price of VND20 million / sqm, area of 50 – 68sqm.
According to the survey, not only exciting about the supply, segment apartments, townhouses, land in the East is still “hot” on the transaction, especially the land segment. In some projects, the rate of buyers booking the place, a deposit is quite high even though the investor has not officially opened for sale. At the River View project, in nearly one week of publication, 35 out of 50 platforms were booked by customers. 60 ground floor of An Viet residential area is deposited on the date of announcement, investors have to open the second basket in March / 2018 to meet the needs of buyers. In the apartment segment, the Stown Thu Duc project, despite the new information, but has 226 apartments purchased by guests on the total 293 units. With the purchasing power increased, the new projects offered for sale phase 1 is planning to increase prices from 5-7% for the next wave of sales.
According to real estate experts, the East of HCMC still retains the upper hand in both supply and transaction in 2018.
In spite of the strategic orientation of urban development, HCM City will develop in all directions of East, West, South and North, but with the advantage of being the connecting lane of the entire South East region, the policy Infrastructure development in HCM City seems to be concentrated in the East.
At present, most of the traffic works of Ho Chi Minh City are passing through the East such as Sai Gon river tunnel, Vo Van Kiet, Thu Thiem bridge, Sai Gon 2 bridge linking the city center with the district. 2 and District 9, or Pham Van Dong Street connects Tan Son Nhat Airport with Thu Duc District.
Not only that, the Ho Chi Minh City-Long Thanh – Dau Giay expressway also connects Dong Nai with Dong Nai directly, and Ben Thanh – Suoi Tien metro project (No. 1) is being invested. will officially put into operation in 2020, also stretching from Dong Nai, Binh Duong, through the East to the center of Ho Chi Minh City.
Recently, Ho Chi Minh City has the policy to continue to promote investment in infrastructure traffic in the East. Specifically, according to the Department of Transport – HCMC, in 2017 – 2018, three important traffic projects in Ring Road 2 will be implemented with a total investment capital of over VND13,115 billion. In particular, two traffic projects of the East urgent need to apply a specific mechanism to complete soon the section from Phu Huu bridge to the Hanoi Highway and from the Binh Thai intersection to Pham Van Dong.
Recently, the value of real estate in the East was re-energized with the launch information back to the Rach Chiec Sports Complex. This is a series of Olympic sports, size 180 ha, total estimated capital VND34,000 billion, was built to serve the SEA Games 31 (2021).
The breakthrough in infrastructure has made the face of urban East of HCMC completely changed appearance. At present, most real estate agents have large projects in the East such as Dai Quang Minh with Sa La urban area, Vingroup with Vincity project, Novaland with a series of projects in District 2, District 9 , Him Lam Land with Him Lam Phu Dong Project, Him Lam Phu An and a project of more than 120 hectares in District 2 is expected to be launched in 2018. Besides, Thu Duc House, Khang Dien, Dat Xanh, Phuc Khang, Hung Thinh, Nam Long …, also have large projects in this area scheduled to be announced in 2018.
According to Le Hoang Chau, Chairman of HCMC Real Estate Association, what is happening, in 2018 and the next years, the East will be the area leading the real estate market in Ho Chi Minh City. HCM. By not only infrastructure, the East is also attracting strong FDI flows of HCM City with big corporations from Japan, Korea, France, USA … have poured capital into this.
You are reading the article “East HCMC Welcomed A Series Of New Housing Projects In The First Quarter Of 2018” in the section “Real Estate News” on the website: https://realestatevietnam.com.vn/.
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