In District 9 and District Thu Duc, townhouses that have pink books (certificate of land use rights and home ownership) increased by $VND 500-800 million VND per house on average compared to 4-5 months ago, right after the establishment of Thu Duc City.
According to a survey conducted by VNExpress in February 2021, townhouses in District 9 and Thu Duc had a significant increase in prices. Specifically:
In Tang Nhon Phu, District 9, a typical150 sqm house located in a car alley, with 1 ground floor and 2 levels, its price increased by $VND 800 million VND per house, compared with the price before the establishment of Thu Duc City.
In Hung Phu project, District Thu Duc, townhouses, villas now have prices increasing by $500 million VND per house
In Hiep Binh Phuoc Ward, District Thu Duc, townhouse with previous prices of VND15 billion increased by 2 billion VND in 6 months.
In fact, towards the end of the year, the increase in the price of real estate land with full legal status and pink book issued happened faster than the same period last year.
“The main reason for this new price level is that the planning and establishment of Thu Duc city received high support in infrastructure and was quickly put into practice. On the other hand, townhouses in Ho Chi Minh City do not have much supply, leading to an increase in prices at the end of the year. This is also the time when people choose to invest into attached properties to find a safe haven.” said Mr. Nguyen Loc Hanh, General Director of Ngoc A Chau Real Estate Investment Joint Stock Company
According to Savills’s latest report, eastern districts including District Thu Duc, District 9 account for 80% of the total real estate transactions in Ho Chi Minh City in 2020. The new Thu Duc City is expected to account for about 40% of the future supply until 2023, thanks to its large land bank, good urban planning, and infrastructure. Accordingly, this area is expected to continue to lead the market in the near future.
As experiencing the current prospects of the Thu Duc City, Broad Avenue Group also considers the projects in new eastern areas as the opportunistic properties classified in the investment strategies. To find more information about the investment strategies in new eastern areas please visit our website as well as follow our Facebook and LinkedIn pages.