How is the selling price of New City Apartment project? Currently, the expected selling price of New City District 2 has been about $1,900 – $2,040/ sqm. Is this price high? We will discuss the price and potentiality of New City apartments – the mid-range product in the apartment market in District 2 in the following article.
Located in front of Mai Chi Tho Boulevard, New City is far from tunnel Thu Thiem only 3km, however, the lower price $590 – $1,360/ sqm of the projects located on this road such as Sala urban area, Empire City (Block Tilia of the Empire City project also sells for over $3,640/ sqm). On the same road but the New City prices are much cheaper, which shows that New City has the attractive price and focuses on the segment of the average apartment in District 2.
What is the potentiality of increasing the value of New City District 2?
The New City project has a number of factors that help increase its value, but the most important factor is location. Located on Mai Chi Tho Street, far only 3km from the city, so the New City apartment is not different from Thu Thiem new urban area. Certainly, it is inherited the values that Thu Thiem provides. Although the infrastructure at Thu Thiem has been completed with the Vong Cung and Ven Song roads, some of the high-end apartments of Dai Quang Minh have been put into operation, most of the real estate projects have just begun to be deployed by the investors, which shows that when Thu Thiem has officially entered, it has increased value here rapidly. With the location that New City owns next to Thu Thiem, it is certainly one of the best value-added products.
Besides, the connection of New City has many strengths including:
+ To the center: only 3km along Mai Chi Tho Boulevard.
+ Surrounded by large urban areas such as Thu Thiem, Palm City, Thao Dien …
+ Near the Saigon River, it will be always cool and fresh.
+ People are crowded, so it has full facilities and high-end services.
The New City project will be delivered by the end of this year, so the current price of New City is the price when the apartment is completed. If you choose to invest in the project for rent, the end of the year it can be exploited.
Facilities of the New City project in District 2
The current project is gradually becoming clearer when the exterior and some amenities are almost finished, the whole project design is quite clear, each apartment has its own balcony and corner view of the Saigon River. The planning around the project is only low-rise residential areas, so the view of the city center is not covered. The apartments overlook the central Binh Khanh park and the Thu Thiem riverside eco-tourism park. The average areas of apartments from 56sqm to 95sqm, so the total prices of apartments are from $91,000 to $113,640, according to our assessment, many customers will be able to afford this price, so the secondary trading will be good in the future.
Investor of New City Apartment project
The investor of the New City is Thuan Viet Construction – Trading Company Limited (SSG member), the well-known construction company in Vietnam. This project is one of 3 packages of Thuan Viet in Thu Thiem area. It is also the contractor to build New City, so the construction cost is quite cheap, which helps to reduce the price of New City.
The living space in New City also has a great influence on the value of the project. Near large rivers and green parks, the air is always cool, clean and fresh, so the health and morale of residents are always good, the family happiness and productivity will be increased as well. With sufficient facilities for quality life and a large area of land but the density of construction area of only 24.78%, the remaining area is utilized by the investor to build high-class facilities, good services for residents like park, garden cafe, pool water overflow, gym, spa, business center, shophouse ….
Besides, the New City has crowded population around the project, so the utilities of daily needs, the high-end services from entertainment to shopping are full such as commercial center, international hospitals, international schools at all levels, supermarkets, amusement parks … within 3km radius.
Community of residents at New City Thuan Viet apartment
Community of residents in Thuan Viet is directed to a young, active, highly educated community living and studying in District 1, District 2, Binh Thanh District, District 9, so you will have civilized and polite neighbors.
The price of New City is very attractive, but we think that the project is located in Binh Khanh resettlement area, so this factor also reduced the value of New City project.
The New City project will be opened for sale in the first phase in mid-July with a guarantee and loan to 70% of the Sacombank and Eximbank. Although it has been not officially launched, we estimate the project will be sold very successfully at this price.
See more market information at: Vietnam Real Estate Market