As an intergral element in the blueprint of an innovation district built in the east of Ho Chi Minh City, District 9 has been showered wih a substantial investment cashflow distributed across the board to various economic, social, and cultural aspects.
Price hike on the go
Semi-detached residences including townhouses and villas in HCMC have gone through a substantial price hike over the past three months, reported Jones Lang LaSalle, a reputed property consultant firm, over a recently released market report.
Averagely, property sale price for primary market as of Q3, 2019 peaks 4,689 USD/m2 (about 110 million dong/m2) and increases by 20% on annual basis. Meanwhile, existing projects register a year-on-year growth of 10%-15% during the first months of 2019.
While residential flats are in short supply, the inventory for semi-detached residences in town has remained dormant since last year. Prolonged sluggishness in construction approval process is a major roadblock which hampers investment owners’ efforts in satisying all statutory regulations concerning open-house procedure.
Jones Lang LaSalle estimated that sales volume for semi-detached residences will reach only 2,000 units in 2019, barely half of 2018’s volume.
Promised Land for investors
District 9 is strategically located at the convergence of multiple arterial routes including the coming Ben Thanh – Suoi Tien metro line, Hanoi Highway, etc. As the city’s eastern gateway, District 9 is well-connected to the downtown and adjoining towns thanks to a network of key routes, namely, HCMC – Long Thanh – Dau Giay Expressway, North – South axis road, Interstate 3 (My Phuoc – Tan Van – Nhon Trach)
A waterfront region embraced by Dong Nai, Saigon, and Tac rivers, District 9 is endowed with exuberant green space, a unique selling point in appealing investment cashflows aimed at developing townhouses, villas, and most particularly eco-villas, thanks to its airy and close-to-nature setting.
According to a land allotment decision valid until 2020 approved by HCMC People’s Committee, District 9 is eligible to the largest allotment amongst 24 municipal and rural districts, accounting for 11,400 out of 61,000 hectares. In addition, the district is allocated with a whopping lot spanning 913 hectares just for the high-tech park compound.
These proceedings led to the emergence of large-scale real estate projects in the Eastern Region in general, and District 9 in particular, all of which were implemented by prestigious developers. Take Senturia Q9 Central Point as an example. The property, financed by High Technology Trading And Services Joint Stock Company (HTS) and developed by Tien Phuoc Real Estate JSC, is a high-profile compound of luxurious conveniences, fitness options, shopping outlets, recreational hubs, and green space.
Situated right at the heart of the eastern Innovation District, Senturia Q9 Central Point covers a spacious area of 5.4-hectare and consists of 82 detached villas. The property’s spotlight is an urban ecosystem combining best-in-class conveniences, a life-work-play environment, and optimal security. Senturia Q9 Central Point is expected to quench the thirst for semi-detached residences in HCMC and satisfy customer demands for high-quality properties in town.
Therefore, it is speculated that cashing in on District 9 to acquire townhouses and villas would be the most sensible decision now, as the district has become a real promised land full of untapped potentials and, what’s more, tempting price escalation prospects.
Source: Saigon Times