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HCMC: Soft Price Apartments And The “Great Competition” Of Investors In The West

In the first months of 2017, HCMC’s real estate market in the West is heating up again with the “great” of a series of apartment projects with the price of over 45.000.000 USD.

Attracting tourists by the differences

On March 19, 2017, Hung Thinh Real Estate Investment Company (Hung Thinh Corp) officially opened the Moonlight Boulevard, located in front of Kinh Duong Vuong Street, Binh Tan District, HCMC. The project consists of 20 floors and a basement with a total of 656 apartments, 54 office-tel offices and 54 ground-level commercial premises, priced at just 50 million USA per unit. The highlight of this project is that each apartment area from 51.41 sqm to 96.16 sqm is designed in open space, which easily attracts more natural light and wind.

According to the newspaper of Bidding, within a morning of the event, hundreds of visitors came to visit and order apartments in this project. This is the third project of the Moonlight type of Hung Thinh Corp, promising to bring ideal settlement solutions and prosperous investment for all customers, especially Westerners who need to buy houses in Sai Gon to live, learn and work. Previously, the Moonlight Park View project was also located in Binh Tan District and the Moonlight Residences project in the Thu Duc district was well received and appreciated by customers.

soft price apartment
Moonlight Residences locate din Thu Duc District, Ho Chi Minh City

Observing the supply in the market can be seen, in just a few months, at least 10 projects in the Western area of HCM City such as: Vision, Tecco Town, Green Town, Kingsway Tower. One of them can be mentioned, it is the project Kingsway Tower, by the Sieu Thanh Limited Company as the investor. This project covers an area of 8,665 sqm comprising of three adjacent blocks of 20 stories with a basement, four commercial floors and 16 floors of apartments, totaling 496 apartments ranging from 52 to 71 sqm, are designed synchronously to be 2 bedrooms.

Not only compete with furniture, equipment, imported, Kingsway Tower also has a very suitable price, only from 38,2 USA / apartment 2 bedrooms 2 WC, laundry room separate for each property. Mr. Tran Minh Ngoc Viet, Director of Sieu Thanh Co., Ltd, said that because this is the first project, the company did not put much emphasis on profits but focusing on branding. The competition with the difference in prices, products, architecture, utilities is natural because, without their own identity, the product is difficult to consume.

“Golden land”

As a gateway between Ho Chi Minh City to the southwestern provinces, the last time the western area of the city is becoming the “golden land” of investors and the ideal accommodation for those who want to buy to stay, even to “surf”. Mr.Nguyen Nam Hien, Director of Hung Thinh Land said that the average price per sqm apartment in the West is much lower than the East and South. Therefore, the possibility of increasing prices of the apartment projects in the West is quite large. Meanwhile, considering the factors of material and social infrastructure, the West is not inferior to the rest of Ho Chi Minh City.

soft price apartment
The advantage of infrastructure, easy to move to the center or the Mekong Delta provinces are impressive highlights to help Saigon West attract many projects.

In fact, until now most of the domestic and diplomatic projects in the West have been completed, such as Vo Van Kiet Avenue connecting the western districts to the east of the city or Kinh Duong Vuong Street has just complete upgrade project. In terms of inter-regional connectivity, Ho Chi Minh City – Trung Luong expressway also significantly shortens the travel time between Ho Chi Minh City and the southwestern provinces.

Especially, when it comes to approving the World Bank’s concessional ODA loans, the BRT No.1 bus service has been started and will put into the operation, then it will bring the West to new level. In addition, the Metro No. 3, a link from Ben Thanh station to Pham Ngu Lao – Cong Hoa Junction – Cong Hoa Junction – Hong Bang – Hong Bang – Kinh Duong Vuong – Depot Tan Kien – Tan Kien Station has also been registered by the People’s Committee of Ho Chi Minh City. ODA projects were funded by the Government of Japan for the period of 2016 – 2018.

In terms of other utility factors, there are Aeon Mall Binh Tan Shopping Mall, Phuong Lam Co.op Mart, Kinh Duong Galaxy, Phu Lam Park, West Bus Station, An Lac Big C, High Technology, City International Hospital, Little Star International School, etc. These are the plus points for the residents who choose to live in the West is completely assured because all needs and utilities are responded so well.

Another investor said that with the launch pad, it is understandable that big-time real estate companies are collecting land in the West. This also means that the “great competitive” in the West has just entered the initial stage. A lot of strides are still waiting ahead.

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HCMC: Soft Price Apartments And The “Great Competition” Of Investors In The West
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