Friday, December 15, 2017 7:47:23 AM - Markets closed
VN-INDEX 935.85 +11.45/+1.24%
HNX-INDEX 111.47 +1.02/+0.92%
UPCOM-INDEX 54.35 +0.21/+0.38%
HCM City property market epiccentre shifts eastward
Source: Vietnam+ - 1/9/2017 8:32:55 AM
 (0 ratings. You must sign in to rate.)
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
08/12 Hanoi plans Hoa Lac as satellite town of 600,000 residents
28/04 Intellectual property key for firms
25/04 Association sees busier property market in Q2
19/04 HN five-star hotel occupancy up to 74%
13/04 Foreign cap to be focused at annual shareholder meetings
23/03 Mapletree openes its first office development in Vietnam
20/03 Price up for high-end property
07/03 Real estate transactions stall in February
01/03 City aims for high-quality low-cost housing
27/02 Property stockpile 77% below peak
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
VN manufacturing PMI hits 22-month high in March
CPI goes up 4.96 percent year-on-year in first quarter
Slight rise in February CPI
Draft decree on State monopoly in trade submitted to Government
CPI ups 0.46% in January
Market Update
Last updated at 3:01:10 PM
VN-INDEX 935.85 +11.45/+1.24%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.