HCM City property market epiccentre shifts eastward

Live Quote: On

RSS

My Page | Contact Us

RSS

RSS

Company A-Z | Stock Screener | My Portfolios | Streaming Quotes | Technical Analysis

Investing Tools

Useful Links

Thursday, April 25, 2024 10:25:37 PM - Markets open

VN-INDEX

1,204.97

-0.64/-0.05%

HNX-INDEX

227.57

-0.30/-0.13%

UPCOM-INDEX

88.33

-0.04/-0.05%

HCM City property market epiccentre shifts eastward

vietnamplus.vn - 1/9/2017 8:32:55 AM

(0 ratings. You must sign in to rate.)

Print |

Add To Favorites |

Email |

RSS

The focus of development for Ho Chi Minh City’s property market shifted from the south to the east in 2016, experts said.

Many housing projects, both landed properties and condominiums, were developed in this area, which includes districts 2, 9, Thu Duc and a part of Binh Thanh.

The area has become a veritable construction site with a raft of developments like Sala, The Sun Avenue, Lakeview City and Cantavil An Phu.

A report released recently by property consultant CBRE said 41% of apartment developments were in the east. The figures were 34% for the south, 7% for the north and 11% for the west.

In terms of districts, 2 and 9 accounted for 11% each, the company said.

Their rates of successful transactions were high -- 73% for District 9 and 70% for District 2.

A report by Thoi Bao Kinh Te Vietnam (Vietnam Economic Times) newspaper said land prices had shot up in the east in 2016, increasing by 51% in District 9 and 34% in Thu Duc.

Analysts attributed the east’s rising popularity to its convenient transportation in the form of the under-construction metro route No1, widening of the Hanoi Highway, the HCM City – Long Thanh – Dau Giay Expressway and the upcoming Long Thanh Airport.

Duong Thuy Dung, director of research and consulting at CBRE, told Vietnam News that the east is also a gateway to the city with easy access to other provinces like Binh Duong and vacation spots like Vung Tau and Phan Thiet.

As a gateway it would also benefit from many support policies from the authorities, she said.

An executive at a giant property developer, who asked not to be named, told Vietnam News that "it makes eminent sense to develop properties in the east".
He pointed out that the Thu Thiem New Urban Area was being developed there.

"Water pipes and telecom and electric cables are all underground here," he said.
His company had already handed over units in some housing projects and received good feedback from buyers, who said they enjoyed the convenience offered by the area, he added.

Newer News
19/04	Ministry requests Hà Nội to inspect rising prices of apartments
17/04	Real estate market has positive performances in Q1: VARS
05/04	Developers must verify with foreign homeowner's database before sales
28/03	Management of real estate brokers to be tightened
23/03	HCM City real estate market to recover in H2
23/03	Industrial real estate emerges out of storm
18/03	Lots of ground to cover to build 130,000 social housing units this year
12/03	Deputy PM urges resolving price manipulation for healthy real estate market
12/03	Limit set on interest rates of loans for social housing
21/02	Experts upbeat about real estate prospects

Older News
07/01	Gov’t urges developers to balance supply, demand
05/01	Housing land prices increase 20-40 percent in HCMC
05/01	Retail, property deals dominate M&A market in 2016
27/12	Hot cash flow in the real estate market in 2017
23/12	Experts present three scenarios for property market next year
21/12	Multi-house owners won’t be taxed in 2017
21/12	Real estate bubble unlikely next year: HoREA
20/12	Experts: realty bubble on horizon
12/12	Property inventory value reduced
12/12	Top developers eye affordable housing

Newsletter Signup

Top Stories

	Businesses concerned about rising exchange rate pressure
	Gold bar auction to be resumed after 11 years of suspension
	PM Chính requires strengthened gold market management
	Bank shareholders to receive high dividends, stock bonuses
	Shares sustain gains on strong investor confidence