HCMC land base has never been lowCompared to just about 6 months ago, the landmark land area in the perimeter of the city. The heart of District 9 (in the East), housing prices in the market has set a new record.
At the end of May 2017, this time around more than 6 months. After a series of warnings of the Ho Chi Minh City Real Estate Association (HoREA). Including the entrance of the authorities, the price of land near the city, in which the “hot” district in particular has a more stable.
However, the ground cooling is only for a short period of time. So far, land prices have not only fallen, but also reached a new price range.
Back to the market area of District 9 this time, it is easy to catch the familiar image of the time again years ago. The market is called the hottest ever. There are many new real estate brokerages open. Even employees set up customer service on the side of the road.
According to many surveys, around the area of Go Cat Street, Phu Huu Ward, District 9. The price of land here fluctuates in VND29 million/sqm. That is about 15% more than the time when the market was considered “hot” most in May. The land area at that time only kept at VND25 million / sqm.
Owner of a coffee shop opened for about 1 year in front of the road to share Go Cat: The land of this cafe he bought in November 2016, area of nearly 200m2. Its price is over 3.4 billion, ie about VND17 million / sqm. Currently, this land has recently asked people to buy over $ 7 billion. That is about VND35 million / sqm, so the price has risen more than 100% after only a year. Turns on a wide street just over 6 meters, a few meters from the coffee shop is a series of land was piling up to wait for the transaction.
According to information shared from a brokerage staff of a regional real estate company. The ground floor area of 56.9sqm in front of small road cut with Go Cat Street is VND1.6 billion, ie about VNd29 million/sqm. He said that land prices in this area as the current is quite reasonable. Because infrastructure is increasingly invested in the area to improve.
In addition to inheriting high-speed Ho Chi Minh City – Long Thanh – Dau Giay, this area also received many other transportation infrastructure projects such as Ring Road 2, Nguyen Duy Trinh, … England said that the price of land area This area is likely to increase further, by 2018 may be up to a new level.
Similar to the area around Go Cat Street, land prices in the area around Truong Luu Street, Truong Thanh Ward, District 9 also have a very fast growth rate over time. With the location far from the center, the price of land area is trading around VND25 million / sqm. Up to 20% more than it was in the early part of last year.
Learn about a beautiful land in this area, with an area of 4mx14m. Its price is over 1.4 billion, ie VNd26 million/sqm. Or if some of the background goes into the alley a little deeper, the price was at VND22 million / sqm. Strong against about VNd18 million / sqmin the market called “fever” most.
Is the market virtual? Or is it right with the fund. The rise in land prices is the rule of the economy?
These are the questions most people as well as investors are most concerned about at this time. Does the land price increase so fast that it is reasonable?
Mr. Le Hoang Chau – President of HoREA said: Currently, due to the market is scarce on the supply. There should be signs of land price fever returning in the area of the vent districts such as District 9, Thu Duc, Hoc Mon, Binh Chanh, Nha Be, …
According to financial expert Dinh The Hien, the rise in land prices in the past in the coastal area. Particularly here is District 9, which is not difficult to understand both, that phenomenon is perfectly reasonable in the market. “Many years ago, District 9 has a very good future for real estate. But this infrastructure is weak. Now, District 9 is able to meet the traffic easily for the four sides. The southern part connects with District 2 is also favorable, the north is Dong Nai a very good area, the west is Thu Duc district, the east is the highway. Apparently in District 9 now, people see this is almost already the center. The area is now populated by crowded residential areas, “said Dr. Dinh The Hien commented.
He said that with the current advantages, the correlation with the land price in district 2 to see that: Land prices in District 9 such is acceptable. The price increases according to the rules of the infrastructure, not the “fever” of the land in many concerns.
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