In November 2024 alone, dozens of real estate projects in all segments were opened for sale by Southern real estate businesses.
In November 2024 alone, dozens of real estate projects in all segments were opened for sale by Southern real estate businesses.
Race to sell
Khang Dien House Investment and Trading Joint Stock Company has just officially announced the opening of phase I - Foresta Project in Thu Duc City (HCMC), covering an area of 12 hectares. Accordingly, Khang Dien will launch 200 products including townhouses and villas, with prices starting from 18 billion VND/unit... The special thing about this project is that the houses have been completed and this is a joint project between Khang Dien and Keppel Land.
Phu Long Real Estate Joint Stock Company has just announced the Essensia Sky Project in Nha Be District (HCMC). According to Phu Long, the project is built on an area of 10,000 m2, with 2 blocks of 26-storey luxury apartments, including 424 apartments, with a starting price of 60 million VND/m2. The project will be completed and handed over to customers in 2027.
Meanwhile, DKRA Group Company officially announced the opening of the Saigon Riverpark Project in Can Giuoc District (Long An). The project has an area of 32 hectares, including 1,229 plots, with a selling price of 20 - 25 million VND/m2.
KN Cam Ranh Co., Ltd. also announced the opening of a coastal resort real estate project called CaraWorld Cam Ranh. According to KN Cam Ranh, the project has a scale of 50 hectares, with 1,868 apartments. It is known that this project was implemented by KN Cam Ranh since 2018 and has handed over phase I to customers.
In Di An City (Binh Duong), TT Capital Company and Japanese joint venture Cosmos Initia and Koterasu officially launched the TT Avio Apartment Project. The project is built on an area of nearly 16,000 m2, with 2 apartment blocks of 30 and 37 floors, including 2,000 apartments. The selling price offered by the company is from 29 million VND/m2.
Masteri Group also announced that it has started selling a luxury apartment project called The Global City in Thu Duc City (HCMC). According to the investor, the project consists of 2 apartment towers. The number of apartments for sale is 616, priced from 100 million VND/m2, and will be handed over to customers by the end of 2026.
Another project that will be launched for sale in November 2024 is Artican Park, invested by Gamuda Group. The project covers an area of 5.6 hectares in Thu Dau Mot City (Binh Duong). The project has 349 townhouses, including 174 3-storey houses and 175 4-storey houses, which will be handed over to customers in the second quarter of 2025, with prices starting from 70 million VND/m2.
In addition, a series of investors such as Phu Dong Group, BCG Land, Tran Anh Group, Cat Tuong Group, Bcons... also announced the opening of sales of apartment projects, land plots, townhouses... in many southern provinces and cities.
Opportunity for recovery
Mr. Ha Van Thien, Deputy General Director of Tran Anh Group, said that in September and October alone, the real estate market in the South has strongly recovered.
According to Mr. Thien, the real estate market in Ho Chi Minh City is accelerating the recovery process with the momentum from new supply. In the short term, supply will grow strongly in the fourth quarter of 2024 and the first quarter of 2025, with many options at more suitable prices, mainly contributed by additional contributions from neighboring localities of Ho Chi Minh City.
Future supply will be significantly supplemented by projects that are being vigorously dismantled along with large-scale projects expected to be implemented in the next 2 years. In particular, the demand for real estate in the coming time is very large, including both real estate demand and investment demand.
“The biggest bright spot of the Southern market today is that, in addition to restoring newly launched product lines, investors are leveraging customer support policies from prices, payment methods, to legal matters, helping the market take a more specific shape,” said Mr. Thien.
Mr. Vo Hong Thang, Director of Real Estate Market Research Department of DKRA Vietnam Company, forecasts that in the last quarter of the year, the new supply will increase by 10,000 apartments, bringing the total number of newly opened apartments for sale in 2024 to nearly 30,000 units. This number is nearly 3 times higher than in 2023 and is the highest supply in the past 5 years.
In the context of the market not yet fully recovered and legal issues are still common barriers of the real estate market, the commencement or introduction of a number of projects to the market in the Southern region is considered a positive signal at the end of 2024. The "initiation" of these projects is expected to open up new opportunities for the market in this region.
“Whether supply increases or decreases, prices will continue to increase. The fact that Ho Chi Minh City officially issued an adjusted land price list has affected the psychology of home buyers, causing many to rush to buy before prices have escalated,” said Mr. Ngo Quang Phuc, General Director of Phu Dong Real Estate Joint Stock Company.
Source: https://baodautu.vn/batdongsan/hang-chuc-du-an-dia-oc-phia-nam-duoc-mo-ban-d230830.html
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