HCMC real estate: informations are the cause of land fever

Real estate market in Ho Chi Minh City due to information “up to the county”

Information about the districts surrounding HCMC such as Hoc Mon, Nha Be, Binh Chanh can be considered in the district in 2017. The cause of the real estate market in these areas became exciting.

HCMC real estate market last year closed with a fever real estate in the district. Hoc Mon, Binh Chanh, Nha Be suggested that the local authorities upgrade the district from district to district and await approval.

As soon as the information is leaked out, whether or not the proposal is approved. But real estate market has appeared a strong wave of investment in these districts.

As in Nguyen Huu Tho street (Binh Chanh district and Nha Be district), there are many new real estate projects. For example: Dragon Hill, Nine South Estate, Park Vista, Saigon South Residence, The Star Village, Dragon Parc, Phu Xuan Residence, Phuoc Kien Residential – Nha Be.

Nguyen Huu Tho street in Binh Chanh district and Nha Be district – the road of a series of new real estate projects

The price of land increased sharply in the short term

In Hoc Mon district there have been many projects such as Cheery 3 Apartment, Hoc Mon Plaza. And residential projects are typical such as: Eco Town, Sophia Garden, … Besides, residential land is also widely sold to many people.

In fact, property prices in these areas have increased sharply in recent years. According to the survey of Gachvang Co., Ltd. announced on 10/12/2016 said. At the end of last year, the price of land in three localities intending to go to the district has increased by 20% compared to the beginning of the year when no information. In particular, the price of land increased most in the main roads. As Nguyen Huu Tho (Phuoc Kien commune): prices have increased from VND24 million / sqm (end of 2015) to VND36 million / sqm by the end of 2017.

According to the market, the most exciting area is Binh Chanh district. This district is considered to be the highest district. In particular, the transportation system is the brightest point attracting many investors. Because traffic here has formed and connected easily with important roads. For example, National Highway 1A and Provincial Road 10 links to Duc Hoa Industrial Park (Long An), Nguyen Van Linh road connecting National Highway 1A to District 7; Vo Van Kiet street connecting National Highway 1 through Sai Gon river to district 2 and going to Dong Nai, …

Binh Chanh district has the highest chance to go to the district because the infrastructure has developed strongly. National highway 1A runs through the area

Because of such conditions, land prices here have increased sharply and attracted many investors to participate. Most of them are secondary investors.

In addition, there are projects such as Trung Son, Camellia Garden, An Riverside, Saigon West residential area, Dai Phuc Town, Viet Phu Garden, …. Prices range from VND20 million to VND40 million per square meter, depending on the location it is in.

Be careful and beware of “virtual fever”

The market is growing according to the rumors that happen in many areas of the economy, not just real estate. But real estate is one of the top industries affected by this problem.

Looking back over the whole market over time can see. Many real estate sectors have grown very fast thanks to the rumors. As in the East of HCMC, after having information about metro project number 1. The land price has increased several times, from VND10 million/ sqm in 2012 increased to VND100 million/ sqm) in just a short time.

Project metro No. 1 is the cause for many localities that it passes through the real estate market fever price

However, the downside of such rumors is that the speculators do not collect the speculative land to raise the price too high. Make the market chaotic and cause many difficulties for people with real needs.

Assess the ability of the three districts mentioned above and lead to the property market fever hot time.

Representatives of the HCMC Real Estate Association said that the district must depend on a lot of different factors to be approved by the city leaders. This problem is not just begging but one afternoon to go to the county.

According to the HCM City Real Estate Association, considering the conditions for the district (transport infrastructure, density of agricultural land, people’s income, budget collection …). Binh Chanh District is able to achieve almost all requirements. While the other two districts at present time, it can be difficult to get to the district.

~~>>Update on new information on the real estate news in Vietnam here: Vietnam real estate news

Representatives of HOReA also said that investors rely on information to the district to develop projects and inflated prices are occurring. Real prices in these districts are just over VND 10 million / sqm for residential land and less than VND10 million / sqm for agricultural land. But prices have been blown up very high and very fast mainly due to speculators.

According to Le Hoang Chau, President of HOReA, buyers of real estate now need to carefully consider the money to buy land before the information to the district in these districts. “It is unreasonable for people in real need to spend money on speculators. In addition, the current market up and down erratically depending on the rumor is very dangerous. As the development of the project, buying and selling continuously will lead to the market appear bubbles. So the city government as well as the local need to intervene to address this situation, “Mr.Chau said.

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