Together with the dynamic activities of HCMC property market, the projects in the East are dazzling also. Various transportations systems are being synchoronously planned including roadways, railways and seaways.
With the completion and operation of these public transportations, the East will become connectable to the city and the surrounding provinces, creating huge leverage for property market and increasing profit for both buyers and investors.
Infrastructure in the city has been looked at thouroughly and strategically, with many projects aiming to widely connect the city, and are particularly advantageous for the eastern areas. Access has been increased and created favourable conditions through the introduction of the Ho Chi Minh City - Long Thanh - Dau Giay Expressway; Ring Road 2 and 3; Lien Phuong Road; Mai Chi Tho Avenue; Dong Van Cong; Nguyen Duy Trinh Expanded Road; Nguyen Thi Dinh Road; and the Mien Dong Bus Station.
At the same time, HCMC has also been implementing the construction of a metro railway: Ben Thanh - Suoi Tien. This development and the rapid change of infrastructure has become a positive force promoting the socio-economic development in the area.
Talking with Reatimes, Le Anh Duc Tuan, Sales Manager of Dat Xanh Mien Nam, said that the real estate market in the East in recent years has developed fast and strong, with much room to explore and potaniel to attract many investors. When it comes to the East, people will always mention the most favourable two districts which have great investment in infrastructure, facilities, and large urban areas are District 2 and District 9.
Huge improvement in infrastructure in the East of HCMC
With the speed of urbanization and synchronous development, District 2 has many advantages in terms of planning, with a series of large infrastructure works to connect with the old Administrative center and Economic zones in the region such as High Tech Center (District 9), South East Economic Zone, Saigon Port Complex, and Saigon South.
Recognizing the importance of this area, the city authorities pay attention to infrastructure investments such as the VND 495 billion invested by Kim Cuong Island, from Thanh My Loi residential area, to Mai Chi Tho street.
In addition, Phase 1 of the My Thuy intersection (a VND 838 billion investment) has, over the year, completed the Ky Ha 3 bridge;the tunnel turn left from Ring Road 2 to Cat Lai; and the overpass on Ring Road 2. Phase 2 will be implemented in early 2019. This is considered one of the key infrastructure projects at the East gate to rapidly promote Cat Lai. From the end of 2017 to now, land prices in Cat Lai have increased about 30 - 60%, becoming hot areas and have a high price range in the real estate market in Ho Chi Minh City.
Many big local and foreign developers such as Dat Xanh Group, Son Kim Land, Novaland, Keppel Land, Capital Land, Dai Quang Minh have invested in District 2 with a series of famous urban projects such as the city of Sala (located in Thu Thiem of Dai Quang Minh), Sun Avenue, Lakeview City of Novaland, Land Green Gem, Estella Heights, Palm City, and Empire city of Keppel Land. District 2 becomes a high-end residential area with large scale projects which changed the face of District 2 to a new height in comparision with developed countries such as Singapore or Taiwan.
Perspective of Safira Khang Dien
Mr. Tuan added that while district 9 was vibrant from land projects due to the land fund, the district was able to develop sustainably thanks to the projects of large local and foreign developers such as Dat Xanh, Novaland, Keppel Land, and Capital Land.
"From my personal point of view, if District 2 has sustainable development, clear planning and great value, District 9 will benefit from its proximity to District 2. However, it is developing too fast while the actual demand is not too high - usually the demand for secondary buy and sell occurs more. The real estate value in District 9 is currently at ceiling level.
Ground-based projects have attracted secondary investors in both HCMC and foreign investors to invest in. Right now, VinGroup's mega-urban project in District 9 has once again heated up the value of the property here. The implementation of such a megacity will greatly affect the value of the real estate in the region and the surrounding area. But in some special hot areas such as District 9, value will not be able to boom as early as this year and last year because the prices have already peak up, except for some apartment projects at attractive prices" said Duc Tuan.
In general, the real estate of the East has benefited greatly from important infrastructure such as Metro No. 1, Long Thanh - Dau Giay Expressway, Ring Road 2, Ring Road No 3, and Mai Chi Tho Boulevard. As a gateway to trade with satellite cities of HCMC, the real estate market here will continue to grow strongly, creating the appearance of the leading urban areas in the East of Saigon, becoming a hot area for real estate developers and a must see area for buyers.
