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In 6 years, the price of villas and townhouses in Saigon increased 10 times

The race to increase prices

The supply is scarce, while the sentiment of favoring townhouses is increasing, which is considered the main reason for the rapid price increase of land houses in Ho Chi Minh City and neighboring provinces.

In Ho Chi Minh CityAt the beginning of 2022, the real estate market witnessed a number of high-end and luxury townhouse and villa projects offering huge prices.

For example, The Global City project in Thu Duc City announced to the market the expected selling price of nearly 400 million VND/m2 for the commercial townhouse subdivision.

In the South Saigon area, Nam Long Group deployed 39 luxury villas in The Mizuki subdivision of Mizuki Park urban area 26h with the selling price from 40-120 billion VND/unit depending on the type. Because these villas are located on three sides of the river, they are quite expensive.

Similarly, Van Phuc Group offers villas for sale in Van Phuc Mansion and Parkview Shop Villas located in Van Phuc City Urban Area, priced from 59 to 160 billion VND each. This price was 25% compared to the same period last year.

Previously, in the old district, Trung Thuy Group announced the selling price of the Lancaster Eden villa project at around 100 billion VND/unit.

The villas in the periphery such as the old district 9 (now Thu Duc City), Nha Be, District 7 … are also extremely expensive at more than 100 billion VND, double the time before the epidemic. For example, a detached villa with 2 fronts on Pham Thai Buong Street (Tan Phong Ward, District 7) for 103 billion VND, or more than 378 million VND/m2. Meanwhile, another detached villa nearby has a recognized land area of ​​578 m2, for sale at 230 billion VND, equivalent to nearly 400 million VND/m2.

Thus, as noted, the price of villas in many places in Ho Chi Minh City is twice as high as before the epidemic and 10 times higher than the price 6 years ago. Data from Batdongsan website shows that the selling price of adjacent villas in the East and South areas of Ho Chi Minh City in April 2022 increased by 25-35% over the same period last year. In particular, similar products in Tan Binh district also recorded a price increase of up to 60%. The average selling price of the whole city is currently about 250-400 million VND/m2.

In 6 years, the price of villas and townhouses in Saigon increased 10 times - Photo 1.

Not only in Ho Chi Minh City, townhouses and villas in the suburbs of Saigon such as Long An, Dong Nai and Binh Duong have also increased rapidly, especially in commercial townhouses.

In the neighboring province of Ho Chi Minh City, the price of townhouses and villas has also established a new price level. In which, there are villas in large-scale urban areas, priced at up to million USD/unit, even some projects bid 100 billion VND/unit.

For example, in the 355-hectare Waterpoint urban area of ​​Nam Long Group (Long An), in addition to affordable apartments; Mid-range townhouses also have high-class villas The Aqua priced from 23 billion VND/unit.

Or, in Novaland’s Aqua City (Dong Nai) urban area, riverside villas cost hundreds of billions of dong/unit, even higher than townhouses and villas in some areas of Ho Chi Minh City.

In the same area, the price of each townhouse and villa in the Swan Bay project is also tens of billions of dong/unit. This price fluctuates on average around 25%/year.

It can be seen that, if previously referring to the real estate market near Saigon, mainly the land plot segment, now, townhouses and villas appear more and more, along with fluctuating prices. This is also considered as an additional source of supply for the real estate market of townhouses and villas in Ho Chi Minh City – where the land fund is gradually exhausted.

It is worth mentioning here that the selling price of the new product line has led to a constant increase in the price of secondary products in this segment. Records show that townhouses located along the river in Ho Chi Minh City and surrounding areas no longer have products under 40 billion VND/unit, while for secondary products, compared to the original selling price recently opened for sale. 2 years, most of them have doubled, even tripled.

Demand focuses mainly on large-scale projects

The market report of townhouses and villas in April 2022 of DKRA Vietnam shows that the supply of townhouses and villas in Ho Chi Minh City and neighboring provinces increased sharply, more than 7 times higher than the previous month and nearly three times compared to the first three months of the year. In which, Ho Chi Minh City, Dong Nai and Long An are the leading localities when accounting for 64% of the total supply of the whole market.

Specifically, the whole market has 14 new projects for sale, of which 5 are new projects and the next 9 phases of sale. 1,728 products were supplied to the market, down 6% over the same period last year. The number of units sold increased by 8% over the same period last year. Consumption rate reached 58%.

According to a representative of DKRA Vietnam, sales have prospered with the number of units sold 2.6 times higher than the total consumption in the first three months of the year, mainly in large-scale projects with synchronous planning. and is developed by reputable investors with strong financial potential.

In April 2022, the primary selling price of townhouses and villas in Ho Chi Minh City and surrounding areas recorded an average increase of 3-10% compared to the previous month. Investors have applied many preferential policies, discounts, interest rate support to support customers.

The scarcity of supply and increased demand are considered to be the reasons for pushing up the increasing price level of townhouses and villas. The report of real estate consumer sentiment index of Batdongsan.com.vn shows that 55% of more than 1,000 people surveyed said that they currently own houses attached to land, only about 25% live in apartments. By age group, at the age of 30 – 49, the percentage of homebuyers choosing to buy a house is 53%. With the target group from 50 to over 60 years old, this rate is 60-84%. In addition, 20% of Vietnamese in this age group own townhouses and villas, especially eco-villa products. The report also shows that, the older they are and have a stable financial position, the more Vietnamese people tend to prefer to buy high-value townhouses.

According to Ms. Ginny Nguyen, Senior Manager of Housing Sales Department at Savills HCMC, after the epidemic period, the demand for luxury land-based housing products has become higher than ever. Visitors mainly come from investors who already own a lot of real estate and are looking for new products with high potential for price appreciation.

In 6 years, the price of villas and townhouses in Saigon increased 10 times - Photo 2.

According to DKRA Vietnam, the demand for townhouses – villas is mainly concentrated in large-scale projects, synchronously planned and developed by reputable investors with strong financial potential.

Ms. Ginny Nguyen, Senior Manager of Housing Business Services Savills Ho Chi Minh City, said that, after the Covid-19 epidemic, the housing needs of the people and the wealthy class in Vietnam have the need to find housing. door with a larger area than their current house because of the tendency to live green, away from crowded places. The demand for luxury villas after the epidemic is hotter than ever when the supply is limited and there are no new projects for sale.

Meanwhile, customers of super-luxury townhouses and villas mostly hold a lot of real estate in their hands and buy villas in the satellite market to make second-homes, second houses, etc. Tuesday and for a weekend getaway. According to Savills Vietnam’s Q1.2022 Real Estate Market Report, the market for villas and townhouses in neighboring provinces such as Dong Nai, Binh Duong, and Long An has a very high absorption rate of 85%, respectively. and 67%

“The market for development of villas and townhouses of satellite markets in the coming time will certainly grow more because the central land fund for developing townhouse projects is not much and due to the project development process. difficult and complicated projects. Investors will definitely shift resources to acquire clean land funds in satellite cities to develop projects in order to cut costs and catch the trend,” said Ms. Ginny. Nguyen emphasized.

Mr. Vo Huynh Tuan Kiet, Housing Director of CBRE Vietnam, also said that the price of townhouses and villas in Ho Chi Minh City and the surrounding area will continue to increase in the near future because investors are tending. wants to develop super premium products. In fact, more than half of the supply of new villas and townhouses from now until the end of the year comes from big investors such as Vingroup, Masterise Homes, Khang Dien, Keppel Land, Nam Long Group, Dai Phuc Group.

https://cafef.vn/trong-6-nam-gia-biet-thu-nha-pho-sai-gon-tang-gap-10-lan-2022060611270048.chn


According to Ha Vy

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