“Red eyes” looking for an apartment of 30 million/m2 in the area adjacent to Ho Chi Minh City
Real estate prices adjacent to Saigon continue to increase
In early 2022, land prices in the suburbs of Ho Chi Minh City tend to approach the price of land in the city center after the planning information is announced. Specifically, projects located 10km from the central area recorded a price increase of 10-15%, projects located 20km from the central area recorded a price increase of 38%, projects located far from the central area recorded a price increase of 38%. The 30km central area recorded an increase in price from 35%.
Along with the increase in real estate prices, the demand for housing also tends to increase. According to the forecast of the Ministry of Construction, housing demand in the period 2021-2030 will continue to increase, especially in big cities. The reason is due to the population growth rate along with the development trend of urbanization; Economic growth is associated with an increase in people’s income, which increases the affordability in general and the willingness to pay for housing demand in particular. Besides, the need for renovation and replacement due to the deterioration of housing quality will also increase.
Economic development will increase the average income of urban population faster, and at the same time, the demand for quality housing in cities will also increase. for housing has not changed much.
The supply of apartments priced at 30-35 million VND/m2 in the area adjacent to Saigon is increasingly scarce.
According to CBRE Vietnam, from 2020 to early 2022, the real estate market in Ho Chi Minh City faced many difficulties in terms of supply, scarcity of new products, and prices continued to peak. This has caused homebuyers to gradually drift to the suburbs and areas close to Ho Chi Minh City to find products that are suitable for their finances and needs.
Mr. Nguyen Quoc Anh, Deputy General Director of Batdongsan.com.vn, said that the trend of shifting investment to provinces near Ho Chi Minh City is booming and will continue to increase with the wave of infrastructure development and fluctuations. price. Currently, real estate prices in big cities are anchored at a high level, so the profitability from this location is lower, making investors look for opportunities in surrounding areas such as Dong Nai, Long An, Binh Duong, Binh Blessed… more and more.
“Rare” ceat for the price 30 millions copper/m2
Apartments in Ho Chi Minh City are now almost extinct, priced from 30-35 million VND/m2. The average price is approximately 60-75 million/m2. This leads to a problem, it is increasingly difficult for young people to find affordable housing in HCMC. Even many people even think to find a cheap apartment in Thu Duc city at this time like “searching for a needle in the bottom of a tank”.
With a capital of more than 500 million, Ms. Hoa’s family (31 years old) living in Thu Duc City is struggling to find housing. According to her, if you buy an apartment of about 70m2 in the suburbs of Ho Chi Minh City, now the average is about 5 billion – far beyond the income level. The price of a new apartment is high, but choosing an old apartment with a cheaper price is not a good solution compared to the family’s accumulation range because it must have an initial capital of at least 50% plus interest payments. banks every month will cause huge financial pressure.
Currently, apartments at the price threshold of 30-35 million VND/m2 only appear in Binh Duong – the area adjacent to Thu Duc City. For example, on June 5, Bcons Group will open for sale 289 apartments of the Bcons Bee project with prices from 30 million VND/m2. Currently, the project has topped out, buyers pay 20% to receive houses in the third quarter of 2022.
Previously, Phu Dong Sky Garden project of Phu Dong Group also offered about 40 million VND/m2 (VAT included) – still considered a comfortable price in Di An area, Binh Duong. Because, this price is still 33% lower than the asking price of Grade C apartments in Ho Chi Minh City. That is, a 70m2 apartment costs 2.8 billion VND.
Another project, Honas Residence, also attracted attention in Binh Duong when it offered a price of 26 million VND/m2 in the context that the surrounding projects all hit the mark of 40 million VND/m2. However, that was only the initial price put on the market, now the secondary price level has increased.
According to DKRA Vietnam, in the first quarter of 2022, the supply of Grade B and Grade A apartments continued to hold the dominant position while the supply of Grade C apartments continued to be scarce. Under the pressure of high input costs, especially raw material costs, the primary selling price is likely to continue to increase in the near future. Accordingly, with the price range of 30-40 million VND/m2, it is likely to “disappear” on the neighboring real estate market in Saigon in the near future.
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
