By repeated warnings from experts and interventions from authorities in recent months, the land local “fever” have been blocked, reducing heat in the shophouses sector, especially in the East of HCMC and stabilizing real estate market.
When the land “fever” passes
According to the latest report by Jones Lang LaSalle (JLL), it appears to be in direct contrast to market movement due to its optimizing number of the supply of villas and shophouses by the end of 2017. In the villa, shophouses segment, new supply in second quater of 2014 reached 1,381 units, up 3% quarterly and 40% annually, mainly from districts 2, district 9 and Nha Be district.
The highlight is the sale volume of villas, shophouses in second quarter of 2017 reached 1,501 units, up 29% quarterly and twice year on year. Specially, 55% of transactions mainly lies in the units priced 3 – 8 billion/unit.
In terms of price, in the primary market, the segment of villas, shophouses, primary prices continue to rise. Especially in the townhouses segment, the average selling price is from 3-5 billion per unit. At the secondary market, selling prices of villas and shophouses continue to increase, at a significant increase of 5-7% per year.
After the peak price rise, especially in District 9 with a lot of movements in each region developed infrastructure and utilities. Compared to one or two years ago, land prices have doubled or even tripled, causing authorities to warn to severely punish individuals – brokerage units delivering high land price.
Currently, customer in need of housing is taking advantage of the lower price of real estate to find a residence for themselves and their families. Experienced investors have also begun to look for suitable products that have the potential of sustainably value increase later.
Many economists in Ho Chi Minh City assessed that the buyer has understood the reasons of land price fever is due to the brokers arbitrarily raise prices. The actual value of the property has been pushed higher than it actually is. Therefore, when the “fever” passes away, the buyer finds home to buy is also suitable.
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The projects with real capacity still attract customers
As the largest district in East HCMC, the leading advantages of District 9 is not only in its favorable location, infrastructure invested synchronously, but also in intellectual urban area and high tech zones (considered as Silicon Valley of Vietnam).
All these elements have become the basis for real estate development in the region, turning it into a leading potential land for investors in financialization of valuable assets.
Grasping the development of District 9, domestic and foreign real estate investors have invested capital here. Villa Park, Riverside Park, Riverpark, East Tagn Long, Mega Residence, Goldora, Riviera … are located quite close and have become intellectual communities with existing residents, gradually shaping the framework of the urban area with high living quality and absolute safe.
Therefore, the shophouses and villas project going to be launched in the third quarter of 2017 in District 9 continue to fall into the view of customers as well as investors.
Typically, Phase 2 of Park Riverside, developed and raised to Premium class by MIK Group. With more advanced positioning, but thanks to the advantage of adjacent to the river, the project still attracts investors and buyers.
According to representative of LinkHouse Corporation, the distributor of the MIK Group project in District 9, the list of registered buyers of Park Riverside Premium has exceeded the number of products expected to be sold. This phenomenon causes by the appropriate price and more importantly by the quality of the product which is carefully invested from planning to architecture, as well as standard and world-class resort living space revealed by developers recently.
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