HCM City's east: where the smart money is on property development
In 2010-20, HCM City plans to spend VND250 trillion on developing transport infrastructure. Of this, a whopping 70 per cent will be allocated to the eastern region, which is seeing a slew of infrastructure and property developments.
Analysts say the property market usually tracks infrastructure development, an assessment that has been borne out in the city's east.
This year transport infrastructure in the east (Districts 2 and 9) has developed much faster than in other areas. Many projects have materialised or are coming up: like metro lines No 1, 2, 3 and 4, the Long Thanh - Dau Giay Expressway, Vo Van Kiet Boulevard, Thu Thiem Tunnel, Sai Gon 2 Bridge.
Thanks to the rapid and massive infrastructure growth, property prices in this area have jumped.
A study found that prices at some apartment projects have risen by 5-15 per cent.
Last year around 35 per cent of all apartments sold in HCM City were in the east. This will rise even further when many high-end products hit the market soon, meaning the earlier one invests in these projects, the higher the profits.
Thu Thiem Peninsula: location to kill for
The 737ha Thu Thiem Peninsula is the site of many important projects with unique architecture that promise to make over the area and cause property values to increase.
One of them, The Sun Avenue by Novaland Group in District 2, is expected to fetch big profits to buyers.
With its strategic location opposite metro station No 2, the project is expected to provide appreciation of 8-45 per cent a year to buyers.
With a frontage of over 500m on Mai Chi Tho Road, The Sun Avenue is right in the middle of Thu Thiem Peninsula, 10 minutes from District 1.
In the other direction, the proposed Long Thanh International Airport will only be 15 minutes away.
Novaland Corporation has now listed prices of apartments in The Sun Avenue starting at VND1.9 billion.
Experts reckon it is an attractive price for an apartment in the east of the city.
Starting in March Novaland is offering many promotions.
Those buying a three-bedroom apartment will get a free car parking slot for life. The slots cost thousands, and often tens of thousands, of dollars.
People buying a two-bedroom apartment will have their kitchen upgraded and a smart home system installed through a package worth VND90 million.
For certain payment modes, buyers will get a VND36 million discount.
In the project's central tower (Tower 4), which has just hit the market, there are many apartments with beautiful views.
For all these reasons, this is the perfect time to invest in The Sun Avenue.