How Has The HCMC Housing Market Changed Over The Past 10 Years?

In the period of 10 years from 2006 to 2016, the housing market in Ho Chi Minh City has made dramatic changes, with hundreds of thousands of apartments and townhouses are launched to the market, significantly resolved accommodation for the people.

The average area of the whole city increased from 10.3 sqm/person to 18.11 sqm/person

The housing market in Ho Chi Minh City has changed significantly in the period from 2006 to 2016. Accordingly, the average housing area throughout the city has increased significantly, specifically from 10.3 sqm / In 2006, the number of urban development projects, housing development, and real estate development in the city area has increased to 18.11 sqm/person. The main development in the east, south and southeast directions, in line with the general development direction of the city.

The rate of self-built houses is still high compared to commercial housing projects

Currently, self-built houses still occupy a very large proportion, up to 80% of the floor area increased in the city. However, the number of houses from commercial projects has also increased. According to CBRE, between 2001 and 2015, the city has approximately 135,000 new apartments in all segments of the market, of which approximately 76,000 have been completed. In addition, the City also has about 7,700 townhouses and villas belonging to the projects along with a large number of land plots up to 80,500.

Ho Chi Minh City has 29 large-scale housing development projects

According to the HCM City People’s Committee, there are 29 large-scale residential development projects, of which two are land use projects of 50 hectares or more, 27 have the total investment of 3 trillion dongs. Up to 1,500 units or more. Total land area of 29 projects over 6.8 million sqm, a total floor area of over 8.4 million sqm construction, a population of 141,565 people, total investment is estimated at 157,919.9 billion.

Large-scale projects such as Vinhomes Central Park help address the housing needs of the people

Out of the total of 29 projects, 24 projects have completed compensation and ground clearing and 5 projects have not completed the work of compensation and site clearance, specifically:

• Project on investment in technical infrastructure and social infrastructure of Tan Tao Residential Area – Zone A, Tan Tao A Ward, Binh Tan District: The investor has compensated and cleared the ground 139,3912 / 329.97 ha (accounting for 42.24% of the total project).
• Tan Phu Ward, District 7: The investor has compensated and cleared 97,191 / 99,174.5sqm (98% of the total project).
• Project Tan Thuan Tay residential area in Tan Thuan Tay ward and Binh Thuan Ward, District 7: The investor has compensated and cleared the ground 143,270.6 / 143,620 sqm (accounting for 99.76% of the total project ).
• Commercial-service complex, office and apartment complex at Ung Van Khiem street, ward 25, Binh Thanh district: the investor has compensated and cleared the ground 18,398.1 / 20,639.6 sqm(accounting for 92% of the whole project).
• Apartment Building and Public Works in Phuoc Long B Ward, District 9: The investor has compensated and cleared 63.413,64 / 86,868 sqm (accounting for 73% of the total project).

How has the number of real estate businesses increased in the last 10 years?

The number of real estate businesses in 2016 surpassed 10 years ago

Only 10 years from 2006 to 2016, the number of real estate business increased from 1,264 enterprises in 2006 to 5,356 enterprises in 2016, some enterprises have the capacity to implement property projects with large scale, regional level.

Support services for the real estate market such as real estate trading floors, real estate information systems, real estate notary, property registration, gender, real estate management also developed.

You are reading the article How Has The HCMC Housing Market Changed Over The Past 10 Years? in the Real Estate category at https://realestatevietnam.com.vn/. Any information sharing, feedback please contact through Hotline (+84) 898 898 688 (24/7) or email to contact.vietnamrealestate@gmail.com.
Special thanks!