A series of property companies are racing to build projects near metro lines to catch up with the trend of infrastructure. Housing near the metro also increased by 2-5%.
Raising the goods
Ho Chi Minh City is deploying eight metro lines, three land tram lines, seven depots for the urban railway with a total length of 220km. From here, a series of real estate projects have been broken ground to catch the trend of infrastructure.
For example, the Ben Thanh – Suoi Tien metro line was started construction in 2012 and is expected to be completed in 2019, attracting 27 new projects. The number of apartments also increased from 7,600 to nearly 30,000 houses in the future.
Specifically, located next to Terminal 7 Ben Thanh – Suoi Tien metro, Masteri Thao Dien residential area with more than 3,000 apartments have been sold out. The Depot Metro Tower, located near Ben Thanh – Suoi Tien metro station no. 12, also has good liquidity.
Hung Thinh Investment Real Estate Trading Corporation also quickly caught up with two projects – Lavita Garden and Moonlight Residences. Both projects are located near the 10th station of the Ben Thanh – Suoi Tien. From the project, residents only take a three-minute walk to the metro station.
Meanwhile, Hongkong Land and SonKim Land launch the luxury project Nassim Thao Dien, near the 7th terminal. Vinhomes Central Park of Vingroup Group has the advantage of being adjacent to Station 5.
Connected from the project via the pedestrian bridge with the 9th metro line of Ben Thanh-Suoi Tien metro only 350m, Him Lam Phu An project is becoming hot in the market. In the first sale, 308 units of block A were purchased in just two hours. In addition, the project Lam Lam Phu An owns a favorable location at the gateway East Saigon, on the axis of Hanoi Highway.
“This will not only help improve the quality of life for the residents but also increase the future value of the apartment,” said Ngo Quang Phuc, Deputy General Director. said Him Lam Land.
Mr Phuc added that the metro is a means of transportation and familiar with the culture of developed countries. Therefore, when Him Lam Phu An in operation will attract a large number of foreign customers with a rental price of VND10-12 million per unit. This price is much cheaper than the projects in District 2 or in the center of Ho Chi Minh City but the road is often stuck.
In addition, the development of the metro line will lead a series of commercial, retail and office projects … moving along. Thus, the facilities that the metro line offers can further enrich the living environment for residents.
Along the Ben Thanh – Tham Luong metro line, many new projects such as Rich Star Complex, Depot Metro Tower, Tham Luong, Southern Dragon, Topaz Home …
In addition, the metro routes along the traffic axis Ben Thanh-Tan Kien, Truong Chinh-Phu Lam, Bay Hien-Can Giuoc bus station also received nearly 20 property projects in all segments from medium to high.
Thanks to the 3A metro line and the BRT bus number 1, in the first three months of 2017, Saigon West has surpassed the leading number of apartments offered for sale with 1,821 units. The typical project in this area is Moonlight Boulevard with 656 apartments, 54 office -tel and 54 ground-level commercial premises. Moonlight Park View has 3 19-story blocks with 38 office-tel offices, 34 commercial residences and 463 apartments.
Prices up 5%
According to CBRE Vietnam, real estate projects located near Ben Thanh – Suoi Tien metro run through districts 2, 9, Binh Thanh, Thu Duc are offering at a price of 2-5% compared to the apartments. It has the same level of finish and utility but not near the urban railway.
“Metro lines, terrestrial electric vehicles will determine the success of investors in real estate in the future. This new vehicle will redefine the real estate market. The price of land between suburban or near metro areas will vary by 25%, depending on the location, “CBRE representative said.
Nguyen Nam Hien, General Director of Hung Thinh Land said that the metro will certainly have a strong impact on the real estate market in Ho Chi Minh City. In the past, homebuyers have been paying close attention to the concept of nearsightedness, accessibility, and accessibility, but smart consumers are choosing projects near the metro.
And Ngo Quang Phuc, the real estate investors choose the location near the metro station to develop the project will be the general trend of the real estate market in the coming time. Him Lam Land is also using available land funds near the Ben Thanh-Suoi Tien metro line running through the apartment building, typically the Him Lam Phu An project.
Meanwhile, Savills Vietnam said that the development of public transport system, especially the metro can affect the development of the property market. The development around the transshipment point is a new direction in the future with items such as housing, offices, retail, parking…
This pattern has taken place in other countries in the region and created a significant increase in property value in neighboring transit stations such as China by 10%, Hong Kong by 32% and Thailand by 10%. The same trend is expected to take place soon in Ho Chi Minh City and Hanoi with the first urban railway to be put into operation by 2020.
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