Adjacent to District 1, Thu Thiem new urban area – District 2 is the center of the high-end apartment market with the purchasing power of 95-100% in the first project. This will continue to launch many other projects in the near future, apartment prices have increased from 30 to 35% over the same period in 2015.
The number of high-end apartments in Thu Thiem increased sharply
According to CBRE Vietnam, Thu Thiem new urban area will be the market with many high-end apartment projects in the end of 2017 and 2018. The price of Thu Thiem apartment is $3,000 / sqm or more, is now luxury segment. Looking ahead, the project supply in this new urban area will bring the current average price of apartments across the city higher.
Currently, the average price of apartments in the primary market in HCM City is $ 1,500 / sqm or more. In the high-end segment with low-end projects, the number of units sold increased by 5% over the previous three months and by 10% over the same period last year. And all these projects have a transaction rate of nearly 100%. High-grade apartments with good location on the secondary market tend to increase strongly, especially Thu Thiem high-end apartments.
With a strategic location of Thu Thiem, located on the East bank of the Saigon River, opposite District 1, traffic cps connected to District 1, District 9, Thu Duc, District 7 extremely convenient. Along with the urban land, the fund is scarce, Ho Chi Minh City with the ambition to become the world’s capital city has aimed at developing Thu Thiem. These positive factors have made the Thu Thiem peninsula a potential and attractive center.
The flood of investment poured in and Thu Thiem
At present, Thu Thiem has 6 projects invested in building technical infrastructure with a total investment capital of more than VND20 trillion. Specifically includes the project of constructing a central square with a size of about 20 hectares and 9 hectares of riverfront park; Investment projects to build the main roads such as Boulevard, along the Saigon River, along with the central lake, and the delta road through the ecological forest in the south.
In addition, many other projects are being implemented such as the project of eco-tourism forest for the south, the embankment along the Saigon River, Thu Thiem 2, 3 and 4 bridges to connect the area with the troops of downtown. The investment in infrastructure and transport system in a synchronous way to create special “attraction” for investors in the apartment market Thu Thiem.
Recently, many domestic and international investors poured capital into luxury apartments in the peninsula such as Dai Quang Minh, Tien Phuoc, Tran Thai, GAW Capital … In particular, Korean Lotte Group together with Mitsubishi and Toshiba are preparing to invest in Eco-Smart City. US companies are also jointly investing in a $ 4 billion casino project in the center of the new urban area.
Thu Thiem urban area has gradually become the center of the class, the symbol of Southeast Asia. In the near future, this will really be the most desirable place in Vietnam, where the representative offices of the majority of companies and multinational corporations gather around the world. Therefore, the high-end apartment market will be the place to attract the population to live and work here. Surely this will be a good opportunity for real estate investors segment of high-end apartments.
You are reading the article “Thu Thiem High-End Apartment – The Focal Point Of The Later Year In 2017” in the section “Real Estate News” on the website: realestatevietnam.com.vn
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