HCMC real estate market driven by the development of urban
Urban design is always accompanied by urban development. In the same way, in the development of new urban areas, there is always the correction and replacement of the old urban areas.
Recently, the People’s Committee of Ho Chi Minh City held a workshop on “Management of construction, embellishment and urban development of Ho Chi Minh City. HCM “. Including the program “embellishment and urban development”, this is expected to have a great impact on the real estate market.
Party Congress of Ho Chi Minh City. HCM has launched 7 programs breakthrough. There will also be an “Urbanization and Urban Development Program” in the period 2015-2020. This is both a target for the property market and a condition for the industry to make a breakthrough in the future.
In general, key issues are crucial to the growth of the real estate market. To find solutions to enhance the role of the state direction of real estate. From there, concentrate all resources to well implement the embellishment and urban development program of the city.
This program aims to direct HCM City to develop into a smart urban. Along with that, it connects Ho Chi Minh City with neighboring provinces and cities. As in the South East. This will create the orientation for the long-term sustainable development of the real estate market.
Rapid urbanization is both an opportunity and a challenge
What all real estate investors recognize. That is the real estate market development, the project easy to sell. The solution to housing problems for the majority of people is the most important.
First, middle-income and low-income people. Besides, there are also immigrants. These three components account for more than 85% of the population. HCM is a city with a population of 13 million. Of which more than 3 million are immigrants. And there are millions of immigrants coming to HCM City in the next few years. There are currently 80,000 Koreans out of 140,000 in the country, 8,000 in Japan, 3,000 in Singapore, 1,200 in Germany. Because there are many IPs and EPZs on the way.
The urbanization rate of Vietnam is about 2.8% / year – ranked as the highest in the world. In that TP. Ho Chi Minh City is the city with the highest urbanization rate in the country (growth rate of mechanical population 2.5% per year, higher than the natural population growth rate of 1.07% per year).
This is an opportunity, but it is not a small challenge for this city. As the land is getting narrower, the population is constantly increasing. The demand for housing is increasing, and the number of supplies that meet this need.
From late 2013 to now, the real estate market has begun to signal recovery and growth again. However, in order to have more sustainable growth rate, it must depend on many factors.
Today, life is increasingly enhanced so people not only require a single place. It also requires a living space that is better and greener and more environmentally friendly, more convenient, economical, secure and safe.
It’s time to take advantage of the opportunity to awaken potential
If the successful implementation of the “Urbanization and Urban Development Program” will improve the urban quality and quality of life for the people. It also creates a new image for Ho Chi Minh City. This attraction attracts tourists, attracting more new foreign investment.
However, this goal can be realized. Government must be the most active part with the contribution of the whole population. In addition, it is the necessary intervention and intervention of the state.
In that, creating an open investment environment, a transparent business environment, healthy. Create necessary legal corridors, strict legal system, stick to reality, … are necessary for urban development, economic development as well as real estate.
Thus, up to this point, it can be said that the program “embellishment and urban development” of the city’s party is proposed in 2015 – 2020. This will create a momentum for the real estate market in this city. more sustainable development.
This is a great opportunity, but also a big challenge for investors. Should monitor and implement the programs and policies of the party and the state so the owners will be the big beneficiaries.
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