In the last days of 2020, the eastern urban axis of Saigon attracted the attention of real estate investors when it continuously received a lot of positive information.
It is the merger of the entire natural area and population of districts 2, 9 and Thu Duc district, Thu Duc city, and adjacent to districts 1, 12, Binh Thanh, Dong Nai and Binh Duong provinces, so according to experts,
Talking to VnExpress, Mr. Le Hoang Chau, Chairman of the Ho Chi Minh City Real Estate Association, said that Thu Duc City will be a big driving force for the Ho Chi Minh City real estate market in the period 2021-2025 and beyond until 2030.
Mr. Chau assessed that Thu Duc City is currently the area with the most modern urban area projects in Saigon and this is an abundant supply of housing, commercial real estate and services in the near future.
Chairman of HoREA further analyzed that, in fact, since the concept of Thu Duc City did not exist, the 3 districts under the East Saigon area including districts 2, 9, and Thu Duc have been the focus of many land price increases in the 2016 period.
Thu Duc City (blue part) includes districts: 2, 9, Thu Duc.
However, Mr. Chau said the most worrying thing is that when the real estate market here heats up rapidly, it is likely that housing, commercial and service products are only aimed at the high-end and luxury segments.
Mr. Vo Huynh Tuan Kiet, Director of CBRE Housing Project Marketing Department, commented that in 2020, the East area of Ho Chi Minh City is the most vibrant place even though the number of new projects for sale is not as abundant as in previous years.
Mr. Kiet forecasts that in the years 2020-2025, the East area will still be the area that determines the key products, especially the apartment segment, including both high-end and luxury products.
Real estate in District 9, Ho Chi Minh City.
Although acknowledging the heat of the new city, Mr. Kiet advised speculators and investors jumping into the real estate market in Thu Duc City to be cautious and have a long-term strategy instead of surfing.
Dr. Su Ngoc Khuong, Senior Director of Savills Vietnam also confirmed that the establishment of Thu Duc City will create a big boost for the real estate market east of Saigon in terms of both supply and value chain in the future.
Mr. Khuong analyzed that building an urban area is a story of many generations and needs to be inherited, as is Thu Duc City.
This expert also gave 3 prerequisites for Thu Duc City to form an urban area as expected by the Government and Ho Chi Minh City authorities.
In addition, urban economics is also a big problem.
`If the above three conditions are fulfilled, Thu Duc City will be a big boost for Ho Chi Minh City in particular and the country in general in contributing and promoting the East of Saigon to become a dynamic city and contribute to the
