Weekly Vietnam Property News (27/9 – 4/10/2020)
Property News: District 9 house prices ‘catch up’ District 2
The primary supply of low-rise real estate in East Ho Chi Minh City (District 2, 9, Thu Duc) continued to lead the market in the first quarter, according to data from DKRA Vietnam. A total of 15 projects corresponding to 1,150 units have been launched, accounting for 60% of the primary stock. Along with that, the amount of consumption in the East is also higher than that of the other 3 regions (414 units, equivalent to 36%). These figures show that the low-rise market in the East is really attractive to buyers, real estate prices have also seen a remarkable shift.
Ho Chi Minh City East thrives
The opening of Ho Chi Minh City’s first metro line and the creation of a new city in the East through the merger of districts 2, 9, and Thu Duc will boost the housing market. local and create more opportunities for developers, user investors in the coming years.
The East area of Ho Chi Minh City contains another magnet for real estate development, Thu Thiem New Urban Area with a scale of nearly 700 hectares in District 2.
Thu Thiem will be one of the more vibrant areas with a large number of commercial and luxury apartment projects scheduled to be built.
Along with that, the recent proposal of the Ho Chi Minh City government to combine districts 2, 9, and Thu Duc into a new city, temporarily called Thu Duc city, is considered a remarkable turning point. the idea for the development of the city in general.
Clearing the floor, Ho Chi Minh City and the 7 boundaries will become “diamond octagon”
With the current speed of infrastructure development, Ho Chi Minh City and the 7 southern provinces are expected to soon form a “diamond octagon” link, giving an early time to develop a key economic region in the South. at least 10 years more than the whole country.
Ho Chi Minh City is about to regulate cases in which land is not allowed
To prevent illegal land splitting, the People’s Committee of Ho Chi Minh City notes departments, when advising and deciding on the minimum area to be split plots, it is necessary to specify cases where the parcel cannot be split.
According to the Department of Planning and Architecture (QH-KT), new construction residential land planning and mixed-use functional planning to identify priority areas calling for investment in housing projects, public works, or combinations of words used for many functions.
During the implementation process, investors of these projects need to prepare and submit for approval the detailed construction planning project at the scale of 1/500 to specify the location, structure, layout of functions, and only architectural and planning objectives for each item.
Compiled from many sources by LOOKOFFICE
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