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HCMC: Why the East still holds the ‘unique’ position in the real estate market?

The real estate market in the East

In the strong rise of real estate market in South, South West in HCMC, the East still maintained its position as the most exciting area. The impetus from the “super-terrorist” infrastructure has led to growth in value and market confidence, which will help keep the East afloat.

In 2017, the East will continue to invest thousands of billion in a series of large and small projects. Specifically, TP. HCM commenced the project of upgrading and improving the road belt of the East, the section from My Thuy intersection to Rach Chiec Bridge worth VND 250 billion, the project of nearly VND 300 billion to build Ba Cua Bridge, on the right on the East Ring Road.

The Saigon east real estate market
The Saigon east real estate market

Large projects have been put into use as the Binh Trieu Bridge Road in Binh Thanh District over VND42.5 billion. The project to build the Long Bridge in District 9 with the cost of more than VND 450 billion, building the new bridge Nhieu on Nguyen Duy Trinh, District 9 more than VND 425 billion, VND 495 billion building bridge over Diamond Island.

In 2018,HCM will also deploy dozens of new infrastructure projects in the East. Typically, the project of dredging two canal-river channels and Ba Da Rach-Giang canal in district 9 and building Cay Me bridge on Long Thuan and Dinh bridge on Long Thuan has a total investment of about VND 868 billion .

Previously, TP. Ho Chi Minh City has approved the investment policy to upgrade and expand a series of routes, works up to 40-60m as Nguyen Thi Dinh, Do Xuan Hop, Nguyen Duy Trinh, Le Van Viet, Nguyen Xien and most recently the To Ngoc Van … total investment of more than VND 2,500 billion.

The city has also proposed the Prime Minister to approve the selection of investors to complete soon as the sections from Phu Huu bridge to Hanoi Highway, from the Binh Thai intersection to Pham Van Dong.

According to the Department of Transportation. From now to 2020, the East will deploy dozens of other large infrastructure projects, with a total investment of up to VND 250 trillion. This will make the whole area look great.

A CBRE report shows that in 2017 East is still leading in the basket of real estate market, accounting for 35% of supply. Saigon South area accounts for 32%, western area 14%, northern city. HCMC has 16% and the central area contributes 3% to the number of apartments.

“With the available advantages, the East will continue to be the hot spot of the market in 2018. Prices in 2018 are expected to increase by an average of 3%, of which the luxury and luxury segment will increase by 5%. %, the popular and middle segment has a lower increase of 1.5%, “said Duong Thuy Dung, senior director of CBRE Vietnam.

According to Le Hoang Chau, Chairman of the HCMC Real Estate Association Ho Chi Minh City (HoREA), one of the factors that create attraction for the East is the habitat. This is the area that owns a dense network of rivers and green spaces. The projects on the banks of the Saigon River attract more customers by the airy atmosphere, beautiful views and lush green scenery on the shore.

“The East is planned to become the future administrative center of Ho Chi Minh City, with the goal of promoting the region as a second Singaporean. The potential awakening potential of the whole region, “Chau said.

According to financial expert Dinh The Hien, the intrinsic strength of the East will increase as the cash flow is heading back to the real estate market. In 2018, the real estate market is still the channel of choice for many investors, but there will be differentiation and selection based on demand and financial capacity.

“Capital poured into the real estate market is still abundant, coming from bank credit channels, individual investors, foreign investment through cooperation and M & A and the stock market, The East will be the place to attract the strongest cash flow, “said Hien.

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HCMC: Why the East still holds the ‘unique’ position in the real estate market?
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