Ho Chi Minh City land after a few months of dismal because of the 33 amended decision has now feverishly returned, attracting a large number of investors.
After the earthquake in the vicinity around May, causing the price of land to rise by the day, the People’s Committee of Ho Chi Minh City has amended Decision 33, forcing land plots of over 2,000 square meters to form a project, floor land in Ho Chi Minh City has shown signs of cooling down. The sale of land plots has become more difficult to make investors psychologically cautious when pouring out. But lately, it seems like everything has returned to its original stage.
The market is warming, land prices in Ho Chi Minh City increased
During the gloomy period of Ho Chi Minh City land, only District 2 and District 9 are still vibrant as usual. Explaining the problem, real estate experts said that the reason is that the land prices of these areas have not been lower after decision 33. Moreover, the investment in land plots in District 2 – the hotspot of the high-end real estate segment and District 9 – a place with perfect geographical position, the infrastructure will never lose.
Beside the land of District 2 and District 9, Nhon Trach is also an area of great interest. Compared with the same period in 2016, land prices in this area increased from 5 million to 6 million/ sqm.
Recently, Ho Chi Minh City land with the appearance of projects south and east of the city. Projects such as Him Lam Phu Dong, Jamona Home Resort of Sacomreal, Tan Hai Minh or Van Phuc urban area are quite high transaction prices on the market. Specifically, in the East, the price of land subdivision in Thanh My Loi area has increased about 10-30 million m2 compared with 2015, the land price along Mai Chi Tho road also increased by 15-35% over the same period 2 years ago. In the western part of the city, land prices also increased by 1.3 to 2 times compared to 2016.
Although the price of land increased the purchase and sale of land is still very busy, in part because land prices increased day by day, investors do not worry about losses. In part, because the supply of land is limited, otherwise quick investment will be bought by others. With the rapid development of commercial townhouses as the present, in the future, land market in Ho Chi Minh City will still be hot.
Many major projects are rekindling
According to Savills, in the third quarter of 2017, the real estate market in Ho Chi Minh City will receive an additional 11,500 units/floor from real estate projects large and small. Including a typical project is the Thu Thiem urban area of Rio Land. It is forecasted that in the second half of the year alone in the mid-end segment, the city will also welcome 15,000 to 20,000 more.
Besides, from the beginning of July/2017, a series of land projects in District 2, District 9, Thu Duc district has officially opened for sale. The price is high, from 20 – 45 million/sqm but still very expensive. It is expected that in the future, the Ho Chi Minh City land area in the East will bring opportunities for sustained profit for investors.
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