Noticeable changes in HCMC real estate market in the first 6 months of 2019
July 3, 2018 08:00
Scarcity of projects in the inner city, booming projects in the periphery, high prices of apartment prices ... are noticeable changes in the real estate market in Ho Chi Minh City. HCM in the first 6 months of 2019.
HCM City real estate
Ho Chi Minh City real estate market is scarce in urban areas

Scarce projects in the inner city

The luxury housing market in the central core area of ​​Ho Chi Minh City in the first half of 2019 is almost "a horse alone" when very few projects are approved. This is also a basket of monopolies when the city restricted the licensing of new high-rise housing projects in the period of 2018-2020. Specifically, in the first 6 months of the year, in addition to the supply from existing old projects, the districts Central and Ho Chi Minh City only have 3 new projects announced (two projects in District 1, and one District 6 project) with more than 1,300 apartments.

District 1 recorded a supply of about 900 apartments from two Centennial projects on Ton Duc Thang (Alpha King) and The Marq streets on Nguyen Dinh Chieu Street (Hoa Lam Group). These two projects own a record price of 7,000 - 12,000 USD / m2.

In early June, the new market continued to record supply of more than 400 apartments from D-Homme project of DHA Corp. It is known that the D-Homme project has a scale of 5,600 m2, 30 stories high, is located on the second most beautiful land in District 6, right at the front of Hong Bang avenue, close to the 3/2 fall - Hong Bang - Minh Phung. Until now, the price of this project has not been announced to the market.

D-Homme apartment project
D-Homme - luxury apartment project with the most beautiful location in District 6

According to the investor of DHA, D-Homme belongs to the luxury apartment segment, possessing many utilities but none in Cho Lon area: Outsight trade center by walking street model not the first in Ho Chi Minh City with 5 floors; "Chinatown" food court is 5,000 m2 wide; Chill Bar and copper electrolytic disinfection pool at 120m height; Ocean pool and Raining Zone and 4D technology movie area for children ...

It is expected that in the second half of the year, the inner city will not have any new projects to be offered outside these 3 projects.

Outbreaks of coastal supply

If in the first 6 months, the supply of apartments in the center is scarce, the real estate market in the coastal area explodes with a huge supply of nearly 100,000 apartments.

In the South, every market focus is on the GS Metrocity project in Nha Be district, with a scale of 349 hectares. This will be one of the largest urban areas in the South when completed. In the East, the Vinhome Grand Park project will be open for sale by the end of June. When completed, the project will provide nearly 40,000 apartments to the market. The West Zone is also equally hot with a series of restarted projects such as Akari City (Nam Long), Aio City (Hoa Lam), The Western City (Van Xuan Fund), Boulevard City (Rang Dong Capital) ...

"Price of Binh Tan and District 8 apartments is VND 50 million / m2"

At the beginning of the year, the real estate market in TP. HCM shocked at a price of 10,000 - 12,000 USD / m2 of a luxury apartment project at Cong Quynh Street (District 1). Calculating each 2-bedroom apartment of this project costs over 10 billion. After this project, apartment projects in District 7 have been priced at 60-70 million / m2; projects in District 2 also cost VND90-100 million / m2.

However, the most impressive is the projects in District 8, Binh Tan, Nha Be - the place is known as the mecca of low-cost projects also rolled to 40-50 million / m2.

Specifically, in June, Aio City project in Binh Tan was officially offered to the market by Hoa Lam Group. According to a broker who is offering this project, Aio City is expected to be offered by the investor at a price of 40-45 million VND / m2.

Previously, Central Premium project (Quoc Cuong Gia Lai) opened the final sale of the apartment complex on Ta Quang Buu street at a price of 45-50 million VND / m2. This is the price that has never appeared in District 8 - which is famous for cheap apartments with popular prices from 20 - 27 million / m2.

It can be seen that the apartment market in Ho Chi Minh City has been set up a new price level. According to Dr. Tran Nguyen Minh Hai - Real Estate Specialist at Ho Chi Minh City Banking University: "It is expected that the price increase of HCM City real estate market will continue until 2020 due to the shortage of goods. widespread."

Peace