HCMC real estate market is the center.In 2017, Ho Chi Minh City market is identified as the year of the center. With a series of new projects handed over to customers. Of these, 95% are in District 2, District 9, Thu Duc, District 7 and District 8. Very few projects are located in the coastal areas.
Even according to many investors, not to include the coastal areas in the development strategy of enterprises in the next 5 years. The real estate market in HCMC shows that recently licensed projects are mainly in the central area.
By 2017, the center will remain the focus
According to the HCMC Department of Planning and Investment in 2017, this unit has confirmed and licensed 80 projects eligible for capital mobilization. With a total of 38,583 products, including 34,131 apartments and 4,452 low-rise homes. Total mobilized capital is VND 75,569 billion. In that area the center is still the “navel” for the project to form.
For example, in Nguyen Van Troi (Phu Nhuan district) there are five ongoing projects of the Novaland Group; Pho Quang, Hong Ha (Tan Binh District) has nine projects of Novaland, HungThinh Crop; Mai Chi Tho (District 2) has dozens of projects in Thuan Viet, Novaland, Thu Thiem; In District 4 are the projects of Phat Dat, Novaland, Vietcomreal, …
It is possible to see a common point of these projects are all located on the parallel routes connecting the city center. These projects are high buildings, blocks; and most are in the premium segment.
Not only has the project been implemented but also the new project is located mainly in the central area.
In October, the HCM City People’s Committee announced a series of new projects to be built and opened for sale in the coming time. As a mixed-use residential and commercial complex at 197 Dien Bien Phu Street; Commercial – service apartment complex at 184 Tran Van Kieu street; Nam An Apartment Building (Binh Tan District); commercial complex, service and apartments at 127 Dinh Tien Hoang street (Binh Thanh district), …
Look at the real situation of HCM market in 2017 shows. HCMC real estate has not been able to remove the cover itself. The reason is, because the central area still creates a great attraction for many investors.
And also, the land fund in the city center is still held by the big men. This land area is mainly licensed from the previous years.
Because the market is experiencing fluctuations, it has not been properly implemented. Starting in 2014, when the market shows signs of recovery, investors are restarting. And some are transferred to other owners for the purpose of hugging the queue.
In addition, many enterprises have collected land by purchasing shares of state-owned enterprises. These are state-owned companies with large land funds in the new divestment or equitization center.
Not to mention, the investors have land thanks to the agencies, businesses, … relocation work to leave a huge land fund at the center for real estate projects.
Observers of the real estate market in Ho Chi Minh City. By 2018, HCM City will have a shift to the surrounding districts. The reason is that the current land fund is increasingly limited. Moreover, Ho Chi Minh City also issued a policy restricting licensing of projects in the central area.
Contribute to promote the relaxation program for the center so businesses should open the way to the outskirts of their projects more.
Neighboring districts are in the possession of many advantages. Most importantly, the great advantage of the land fund is still abundant. So the elders started to gather the land and develop more of their projects in the more suburbs. The leader is Mr. Vingroup with project VinCity in District 9, adjacent to Dong Nai.
According to Nguyen Nam Hien – General Director of Hung Thinh Land, real estate market in 2018 moving to the suburban area is right.
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Currently, the population of Ho Chi Minh City is 13 million and is constantly increasing. But the central area is limited and land prices are also high. While the average income of the people can not meet the rate of land price increases. The real estate development in the suburban area is a reasonable in the current city. In order to develop a low cost project that desires high quality to meet the demand, the enterprise can only develop in the suburban area.
“This will be a great advantage for the HCMC real estate market in 2018 and beyond,” Hien said. With the city’s relaxation policy is in the sprint. HCMC will tighten and restrict the lowest level of licensing of central projects and make it convenient for businesses to develop suburban areas.
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