The Flats Market Stars To Return

After a long period of silence, last week, the apartment market in Ho Chi Minh City has become active again with many projects announced to the market.

It is worth mentioning, in the apartment projects published this time involving many first-time enterprises investing in the apartment segment and the business has returned after a long difficult time.

Last weekend, the Khang Dien Housing Investment and Trading JSC announced the Jamila apartment to the market. After many years mainly invested in the built townhouse projects, this is the first time Khang Dien officially invested in the apartment project.

The Jamila is located on the front of the road parallel with Ho Chi Minh City-Long Thanh – Dau Giay Expressway belongs to the East of Ho Chi Minh City, the project is located in the residential area, adjacent to The Venica projects and the modern civilized residential areas (Lake View City, Palm City) … the JAMILA has an area of 1.7 hectares, including 4 buildings with 25 floors, expected to sell at an average price of 990 USD per sqm.

Khang Dien has just announced the Jamila apartment project market

Similarly, as a senior enterprise in investment in the urban projects, recently, the LDG Group has invested in the market segment by launching the Marina Tower Apartments project in the northeast Saigon area.

With the total investment capital up to 44 million USD, the Marina Tower has 800 apartments located right on the Saigon River, designed according to the smart, natural and energy-saving apartment model of Singapore’s affordable flats.

At the present, the LDG Group is announcing a reservation to own the Marina Tower apartment for under 44 000 USD. The project is expected to be handed over to the residents in early 2019.

Notably, in the past week is the return of Resources Company by the official launch of the Kenten Node project on Nguyen Huu Tho Street in the South of Saigon.

The Kenton Node is known for being the “rip” of the Kenten Residences project that has been on the market since the land “fever” of 2007-2008. However, due to the market events and the internal conditions of the business, the project has been completed the raw, but being “blanket” since then officially returned to the market.

According to the real-estate business, the return of this Kenten Node project will add a large supply to the Saigon South area, because this project scales up to 10.8 hectares with a total of more than 3,000 apartments. The price has not been disclosed, but the owner shared, the return of this project is adjusted in the design in modern style, the apartment area is adjusted to suit the real housing needs.

According to Mr. Stephen Wyatt, the General Director of JLL Vietnam, in the last three years, the Ho Chi Minh City real-estate market has witnessed a dramatic change in the infrastructure and efficiency of almost all market segments, especially the apartment, townhouses and retail space. The improved transport infrastructure, better connectivity to the suburban and central areas, led to growth in the open sales and the sales in many segments.

The return of this Kenten Node project will add a great supply to Saigon South

The number of buyers to stay more and more, along with many commercial centers are opened and many retail brands, both merchandise business, and entertainment services deployed aggressively in the suburb area. These improvements, over time, have had a positive impact on the psychology of buying to live in distant districts, continuing to grow in terms of supply and demand in the market segments such as the one-week cycle. Well connected infrastructure, combined with the supply and demand, the prices will naturally increase.

“Unlike many years ago, the deployment time of infrastructure projects has been considerably shortened, unlike the negative situations such as the poor construction and poor quality. Looking at the finished work, the home buyers and investors have the right to expect the same thing in the new projects.

The infrastructure improvements: the important road and bridge projects in the East, particularly the Metro 1; the steel overpass bridge projects on the city scale, the upgrades, and improvements to the bridges, roads, canals in the West … will be the driving force for the market to continue to grow in the coming time, “said Stephen Wyatt.

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