According to a survey by Ho Chi Minh City reporters, there are currently about 7 apartment projects being launched by investors. For example, the King Crown Infinity project on Vo Van Ngan Street, Thu Duc City. The lowest price of this project is currently 110 million VND/m2, the highest is 160 million VND/m2.
At the Eaton Park project invested by Gamuda Land Group (Mai Chi Tho Street, Thu Duc City), the current selling price offered by the investor is 4,800 USD/m2. Or like the Vinhomes Grand Park project on Nguyen Xien Street, Thu Duc City, the selling price is 60 million VND/m2.
Son Kim Land real estate company also announced the sale of The Metropole project in Thu Thiem, Thu Duc City, the current selling price is about 300 to more than 400 million VND/m2.
Another project being opened for sale by the investor is The Global City on Do Xuan Hop Street, Thu Duc City, the selling price offered by the investor is about 140 million VND/m2.
Even projects far from the center of Ho Chi Minh City such as the Essensia Sky project in Nha Be district that has just been launched are priced at 70 million VND/m2.
The lowest price in Ho Chi Minh City is recorded at Khai Hoan Prime project (Nha Be district). The project has a scale of nearly 2 hectares, of which the construction density is 26%, including 3 towers: Vinci 27 floors high, Mika tower 25 floors high, Gali tower 27 floors high. The shopping cart has 1,296 apartments from 1-3 bedrooms. The selling price of this project is offered by Khai Hoan Land Group at 50 million VND/m2.
In neighboring provinces such as Binh Duong, Dong Nai, Ba Ria - Vung Tau, the price is only from 30 to 50 million/m2. In that context, people with average and low income can only rely on social housing.
Although the Government and the Prime Minister always closely monitor, direct and actively manage, many large cities are still limited in developing social housing due to lack of land funds, site clearance problems, cumbersome administrative procedures, and difficulty in attracting investors...
Therefore, for low-income workers, especially workers, teachers or newly employed office workers, saving to buy a house in an urban area has been, is and will continue to be a distant goal because current house prices are too high. Even if they are halved, many people in the middle and low-income groups will still find it difficult to buy a house.
Dr. Nguyen Duy Phuong, Investment Director of DG Capital, said that in reality, the prices of real estate products serving the actual needs of urban areas can only remain stable or decrease slightly for a certain period after a period of hot growth and certainly will not decrease deeply in the context of limited land funds, project development costs including construction materials, labor, especially costs related to land are increasing.
In Ho Chi Minh City alone, according to Dr. Phuong's assessment, prices will increase by at least 8% - 10% per year, not decrease. The current price level offered by investors has far exceeded their actual expected price level by 10% - 30% depending on the segment.
This makes investors hesitant because it is not easy to make a profit, so the purchasing power in the market is very weak. This will also be a difficult point for the market next year, Dr. Phuong commented.
