Real Estate at South of HCMC Grows in the Race of Upgrading to District
In the new development phase, the real estate market in the South of Ho Chi Minh City is gradually increasing its heat and attracting investors due to its prime location adjacent to the urban area of District 7. Especially with the project to upgrade Nha Be to the district in the near future, the growth of this region has never cooled down.
Saigon South area welcomes a push from traffic infrastructure
Development potential thanks to infrastructure push
Infrastructure is still a key factor promoting the increasingly rapid socio-economic development of Saigon South. With strong investment capital, a series of infrastructure projects have been put on the roadmap:
- The system of tunnels and overpasses at the intersection of Nguyen Van Linh – Nguyen Huu Tho (District 7) has officially started construction of phase 1
- The Ben Luc – Long Thanh Expressway will put into use the section from Ben Luc – Hiep Phuoc in 2019, the section from Hiep Phuoc – Long Thanh in 2021 and complete the whole in 2023
- Metro Line 4 passes through Districts 12, Go Vap, Phu Nhuan, District 3, District 1, District 4, District 7 and Nha Be
In addition, a series of other key projects in this area are being accelerated such as Nguyen Khoai bridge – District 7 connecting with District 4 (investment capital of VND 1,250 billion), Nguyen Tat Thanh road expansion project (District 7 & 4), the North-South backbone project connecting the central area with districts 4, 7 and Nha Be with a total estimated budget of more than 8,500 billion VND, the project to expand arterial roads such as Nguyen Van Linh, Nguyen Huu Tho, Nguyen Van Tao, Le Van Luong, building all 4 new bridges Rach Dia, Long Kieng, Rach Tom and Rach Doi…
Thu Thiem 3 bridge project (connecting from Thu Thiem New Urban Area, District 2 to District 4) and Thu Thiem 4 Bridge (connecting between District 2 through District 7 – Phu My Bridge) with an investment scale of thousands of billion VND are also being accelerated for the implementation.
Ho Chi Minh City is developing an infrastructure development project for 2020-2025, creating a push for the South area in the near future
Expecting Nha Be district to be a district in 2025
In addition to the strength of the infrastructure, Saigon South also attracts investors and future residents when Nha Be – a key area has many opportunities to quickly transform to district in the year 2025.
It is known that Nha Be is taking many measures to realize its determination to move to the district by 2025 in the direction of a sustainable urban area, in line with the city’s policy of smart urban development, to develop the economy in the direction of trade, service and industry. With a growth rate of more than 12%, budget revenue always meeting and exceeding the plan, Nha Be sets a target to become the district by 2025.
If Phu My Hung is considered a symbol of prosperity of District 7, then in the near future, Nha Be will welcome big residences of equal size such as:
- Zeitgeist urban area with a total area of 350ha is implementing phase 1
- Dragon City urban area is nearly 100 hectares
- Urban area – Hiep Phuoc port is planned with an area of 3,911ha…
Recently, the Department of Home Affairs of Ho Chi Minh City has submitted a report to the City People’s Committee on a project to convert some areas into districts or cities in the 2021-2030 period. Accordingly, turning Hoc Mon, Binh Chanh and Nha Be into districts of Ho Chi Minh City.
The fact that Nha Be is expected to consider going to the district soon in 2021-2025 will have a great impact on both purchasing power and housing prices in this area. The number of customers looking to buy houses in Binh Chanh, Nha Be increased by 30-40% in March 2021. Many exchanges in the area said that the number of buyers flocking to find out information about real estate in these two districts increased by nearly 50-60% compared to the beginning of the year, not only the investment demand but also the purchase volume in the area is also clearly higher.
Celesta Heights project developed by Keppel Land and Phu Long in Nha Be
Real estate has tremendous growth momentum
The South Saigon real estate market is still in a strong growth momentum with many competitive projects in terms of price and quality:
- Sunshine Diamond River – District 7
- Sunshine City Saigon – District 7
- The Infiniti – District 7
- Eco Green Saigon – District 7
- Sunrise Riverside – Nha Be
- La Partenza – Nha Be
- Celesta Rise – Nha Be
- Orchid Park – Nha Be
In particular, when continuously receiving key transport infrastructure projects, real estate in the South has continuously increased in price throughout the years. District 7 quickly became the new development center of the city with the price of land. According to the survey, about 5 years ago, the average residential land price in Nha Be was only about 10 million VND/m2. Up to now, land prices have increased many times. In potential locations, the price of land can sometimes reach nearly one hundred million VND/m2.
Assessing the potential of the South Saigon real estate market, experts believe that quality projects in this area will still be the optimal choice for the majority of customers with real needs as well as investors.
In the next email, let’s analyze the most special project at this time in the real estate market in Ho Chi Minh City in general and Nha Be in particular: Celesta Heights – Ensure Profitable Investment.
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