Every square meter of land in front of Nguyen Van Chiem street suddenly surged to 381.88 million when it became the first street vendors of the HCM City.
Gachvang Co., Ltd has just released a report on the price of Nguyen Van Chiem street in Ben Nghe Ward, District 1, where HCMC’s first street vendor has just launched a few days ago. This study shows that the new street market of Saigon has tended to increase strongly in the last 8-12 months.
Although it is a very short route in the central core area of Saigon, parallel to the Le Duan yellow line and cut the busy commercial street of Hai Ba Trung, thanks to the expectation of the commercial value of street vendors Again, the land prices here have been constantly fluctuating. As of the end of August 2017, real estate value in Nguyen Van Chiem street was reported at 16.603 USD / sqm, an increase of 23% over the beginning of the year and an increase of 26% over the same period last year (8 / 2016).
The price of land began to increase sharply from March 3/1974, coinciding with the time District 1 People’s Committee decided to pilot the first street vendors in Saigon here. From the landmark of 13.478 USD / sqm, the land front of this street has consistently set up new land prices, leaping up to 14.783 USD / sqm when street vendors announced and then gradually increasing, approaching the threshold of 16.609 / sqm. If only in the last 8 months, the price of this street has increased to nearly 3.130/ sqm.
Gachvang forecasts that street prices of street vendors Nguyen Van Chiem will continue its upward trend once the business comes online, especially as Ho Chi Minh City jubilantly celebrates its festive season at the end of the year. Therefore, the price of the first street vendors in Saigon may reach 17.391 / sqm, even higher in the next few months.
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