Land in the suburbs of Saigon increased double but still burned

02/02/2018   Viewed: 564
A 160ha project in District 9, Ho Chi Minh City land fire 17 million m2 per square meter, though increased 2.5 times the first product launch.
This project is located at the gateway of North East of Ho Chi Minh City with the scale of 160ha, the center of District 1 (Ben Thanh Market 13-14km), located in Truong Thanh Ward, District 9. Campus adjacent to Nguyen Duy Trinh, La Xuan Oai, Lien Phuong with the infrastructure is gradually being improved.

In 2014, this project offered its first phase with a starting price of VND6.9 million per square meter. However, in the fourth quarter of 2017, the land of the component projects here is still offered for sale at 17 million per m2. Compared with the landmark in 2014, the land price in this area has increased 2.46 times, ie team up to 10.1 million per m2.

Although the price was high compared to the first sale, the sale phase of this project is burning, even the secondary market appears at the price of 18 million per m2 for the background there. nice location, small area.

Cause of attraction, explained by the stork in District 9, is because the column price of 17-18 million per m2 is still very modest compared to land prices around this area. In fact, the land projects located around the road: Lien Phuong, Nguyen Duy Trinh, La Xuan Oai price is 24-30 million per m2 depending on the location.
 
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A project in District 9 has a dramatic re-export market with prices up 2.5 times compared to its first appearance in 2014 but still "burning"

General Director of Nam Phat Nam Investment Consultancy Company, Nguyen Mac Hoai Nam said that compared with 10 years ago, 2007-2008 landmark, land price on Lien Phuong, Nguyen Duy Trinh, La Xuan Oai from the milestone of 3-4 million per m2 has jumped to the unexpected price range (lowest 17-18 million per m2, the highest of 24-30 million per m2). Thus, land prices around the project have increased 4.5 to 8 times in the last decade.

Mr. Nam said that the cause of land price increase rapidly due to the resonance of many factors. The first is the huge infrastructure boom for District 9 in particular and the whole of East for a decade. It is the continuous earthquake that has hit the market in recent years, which has pushed the price of real estate up the steep escalators and out of control.

In addition, the area surrounding the streets of Lien Phuong, Nguyen Duy Trinh, La Xuan Oai has appeared in many projects, the coverage of construction works is increasing, plus a strong investment. The proximity of this area makes the heat of land prices here are constantly increasing heat.

However, according to the expert, the cause of deep psychiatric illness lies in the ownership of real estate attached to land in the population is too strong. This motivates them to go to the field to buy land, creating a scarcity of local supply. In the context of large-scale land-based projects, only a small drop in sales and an escalation in prices pushed the market into a shocking price war.

"This may cause a domino effect for the HCM City land market. However, the rapid fluctuation in land prices is becoming a big challenge for the sustainable development of the whole market, "Nam said.

DKRA Vietnam's quarterly report for the fourth quarter of 2017 reveals that land plots in Ho Chi Minh City have experienced a period of turmoil in the post-crisis period. This is a comprehensive study and survey of urban housing prices over this 10 million people in the years 2012-2015-2016-2017.

Accordingly, land price changes in HCMC depend heavily on the development of transport infrastructure. The East Saigon area has increased by 130-170% since it has had the strongest traffic growth in recent 3 years. At present, the price of land in District 9 fluctuates around 27-35 million VND / m2.
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