The Price Of Diamond, Masteri And The East Sector Of The Project Have Increased Sharply

Not only in the secondary market, a series of apartments in East is recording the movement of primary price adjustment from the owners with a strong increase.

Among them, there are prominent projects receiving the attention from investors such as: Masteri An Phu, Diamond Island, Gateway Thao Dien …

Accordingly, in the first 6 months of 2017, a series of apartment projects are underway in the East that witnessed an increase in the primary price compared to the previous openings. The average increase from VND 150-200 million per unit, many projects have increased to more than VND 300 million / unit.

Specifically, comparing prices of many projects as of January 2017 with the current, the East has the number of projects to adjust the primary price increased the most in the market, about 20 – 30% compared with the previous price, in which high-end apartments have the strongest price movements. For example, the price of apartments in Kim Cuong Island (District 2) at the end of 2016 is still offered by the investor at VND45 million / sqm, but at present the apartment price of this project is VND 58 million / sqm. , up nearly 30% after just one open. Not only that, the secondary trading price of this project is currently at VND 60 – 62 million / sqm, higher than the primary price of VND2-4 million /sqm.

Diamond Island, Masteri

With the advantages of infrastructure, many projects in the East are raising prices

Another project in District 2 area is Masteri An Phu has just raised the price. Specifically, in January 2017, the price per sqm of apartments offered for sale from VND 30 to 32 million / sqm. However, at the same area, the apartments have increased to VND 35 – 38 million / sqm, or about VND 150-200 million per apartment. According to the representative of the investor, the increase is quite reasonable because the project is adjacent to Metro No. 1, so the closer the project is completed, the more demand for the purchase.

Gateway’s Son Thim Dien Gateway (District 2) is also on the increase in offering the final units to the market. Specifically, for one-bedroom apartments, the price from VND 2.4 billion to VND 2.6 billion per unit, an average increase of VND 200 million / unit compared with the previous sale about 5 months.

Diamond Island, Masteri

Primary price increase chart adjusted  some projects in East HCMC in August,2017

Also compare the offer price as of January 2017, the one-bedroom units under the Sun Avenue project (District 2) were raised by Novaland from VND 2.2 billion / unit to VND 2.4 billion / unit. Some of the 2-bedroom units in this project also increased by nearly VND 300 million but still in the state of attraction.

Other high-end projects in District 2 such as Sai Gon Gateway, Victoria Village, Palm City … are also moving upward adjustment of the average selling price from VND  3-4 million / sqm. In general, each apartment sold difference price of about VND 150-200 million / unit compared to the previous sale.

Not only luxury apartments, some affordable housing projects are also on the rise in price fluctuations from land fever and infrastructure East. For example, the project Citisoho (District 2) was offered at the initial price of VND 1.2 billion per unit, but after the first sale, Kien Asia has adjusted to VND 1.4 billion per unit due to increased demand. And there are improvements in infrastructure services.

After success from the first sale, HimLam Land’s investor also adjusted the price Him Lam Phu An (District 9). Accordingly, for the type of two-bedroom apartment, the starting price from VND 1.65 billion / unit adjusted to nearly VND 1.9 billion / unit in stage 2. The investor expects 308 units. Finally, Block B of this project can increase the price to reach VND 2 billion / unit. So compared with the starting price from December 2016 to now, this project has increased by nearly VND 400 million / unit. It is known that the reason why the price increase is the fast construction progress and advantage adjacent to Metro stop No. 1.

The mid-end segment, La Astoria 1 (District 2) has also recently moved up. As noted from the sale launch at the end of December 2016, the project cost is about VND 20 million / sqm, now up to VND 24 million / sqm, up 20% over the previous five months.

According to the survey, not only the price of apartments increased but secondary prices also recorded a stronger increase. On average, an East Area project costs about 20% higher than the primary price, up from 30% or even double the original price. Specifically, the Him Lam Land project’s secondary price of Him Lam Land after completion of infrastructure and raw materials has increased by VND 200-300 million / unit compared to the initial price announced in the last phase. Two-bedroom apartments with a starting price of VND1,2 billion per unit are now being sold at up to VND1,5-1,6 billion per unit depending on location.

Diamond Island, Masteri

Chart of price increase from primary to secondary of some apartment projects in East HCMC

Similarly, Phuoc Long apartment (District 9), the current price is VND 20 million / sqm, the secondary price is VND 24 million / sqm. The Krista (District 2) project of Khang Dien is expected to be handed over in December 2014 with a secondary transaction price of VND 25 – 27 million / sqm (only VND 23 million / m2) or CitiHome (District 2) apartment of Kien A, which has a price of VND 19 million / sqm after completion of secondary infrastructure services increased to VND 22-24 million / sqm.

Explaining the rising trend of selling apartments in the East, some real estate experts in HCM City said that most of the projects have a price increase sharply have many advantages of good location. The construction progress is rapid, concentrated in the central areas of the East, welcoming the general development planning of the region, the market is favored. The beautiful land bank in the center of East HCMC has been narrowed down, the number of projects with less central location, high demand for repurchase, not enough demand, so the price adjustment through the openings are easy to understand.

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