Bring many special advantages
Bordering many large districts of Ho Chi Minh City such as District 4, 7, 5 and 6, this is an important transit point for goods in the region. At the same time, District 8 also has many important river ports of the city such as Binh Dong port, Binh Loi port, Chanh Hung fishing port and nearly 100 large and small warehouses managed by various levels.
Regarding traffic infrastructure, in District 8 there are 6 routes with foreign functions, connecting neighboring regions and urban areas including Nguyen Van Linh Street, East-West Avenue, Trinh Quang Nghi, Ho Hoc Lam Street, National Highway 50 and National Highway 50 bypass. In the future, passing through District 8, there will be urban railway line No. 5 and elevated road No. 3 to support traffic connection for local residents.
In terms of area, District 8 has a perimeter of nearly 32 km, many times larger than central districts such as District 3, District 4, District 5, and is equivalent in size to Go Vap District.
District 8 has strong development in traffic infrastructure, creating momentum for the real estate market.
With the above advantages, District 8 is a bridge between the center of District 1 and the western part of the city, not only in terms of economy but also in terms of population. However, the urbanization speed of District 8 is somewhat slower than some other inner-city districts due to the terrain being divided by canals. Therefore, there are still many vacant lots in District 8 and real estate prices are also lower than some other areas.
According to data from Batdongsan.com.vn, District 8 currently has about 70 real estate projects that have been, are being, or will be handed over or implemented with a variety of real estate types, including apartments, townhouses, offices, commercial centers, integrated urban areas, etc. Of which, there are about 40 apartment projects, the remaining number is allocated to new urban area projects, complexes, villas, townhouses, townhouses, etc. and other types of real estate.
According to experts, the real estate market in District 8 is quite suitable for buyers with real housing needs and limited finances because the price of apartments here is about 30% lower than similar types in other districts. However, due to the strong development of the transportation system, traveling from District 8 to the city center is very convenient.
As for investors, it is necessary to consider the difficulty of making a profit in the short term because the problems of the real estate market in general have not improved. If you aim for speculation at this time, it will be difficult to make a profit. However, this period is also an opportunity for investors to focus on carefully researching suitable types of real estate in District 8 or can focus on the type of apartment for rent in the current period.
How to invest in District 8 market?
As mentioned, in the current period, choosing cheap real estate for rent is an option for many investors who have available finance. In District 8, the rental market in District 8 is very diverse in types and segments, from warehouses, townhouses, private houses, apartments to boarding houses. With advantages in terms of transportation, planning, and population, this is a place that attracts a large number of immigrants to live and work, so the rental market is also very developed.
According to Batdongsan.com.vn, some types of investment that many people are interested in in the District 8 real estate market are investing in buying dilapidated houses to renovate, repair and then rent them out as mini dormitories or serviced apartments. This type serves the tenants who are students and workers here who want to live in cheaper houses with rental prices ranging from 1.5-2 million VND for a dormitory and from 3-5 million VND for a fully furnished serviced apartment.
The supply of low-cost and mid-range apartments is an advantage of District 8 real estate.
As for the rental price of houses for business premises or offices in District 8, it was always quite high in 2020, increased from slightly to very high in 2021 but was heavily affected by the epidemic in the same year and has not fully recovered by 2022. Wards with the highest increase in townhouse rental prices in 2022 include: Ward 14 (increase of 150%), Ward 2 (increase of 67%), Ward 6 (increase of 50%). Currently, the average rental price of townhouses in District 8 ranges from 11.5 - 50 million/month, the highest average price is concentrated in Ward 2 (50 million/month), Ward 8 (35 million/month), Ward 9 (30 million/month).
In addition to the rental market, in District 8, apartment projects are also a choice for many investors as well as home buyers. There are still many apartment projects with prices ranging from low-cost to mid-range segments, instead of being dominated by the luxury segment like in some other districts of Ho Chi Minh City.
Many projects in District 8 are recording prices below 40 million VND/m2 such as Dream Home Riverside (25-29 million VND/m2), Tara Residence (30-38 million VND/m2), Green River (32-46 million VND/m2), Conic Riverside (28-36 million VND/m2), The PegaSuite 2 (35-40 million VND/m2)... These prices are all secondary market prices, because some projects have been in operation for many years. However, in recent times, apartment prices in this market have also recorded an increase of 15-20%.
In the coming time, the apartment market here will also be supplemented with supply from primary projects. Although this selling price will be higher than the price of old projects, it is still within the acceptable price range, especially for those who are in need of buying a house. District 8 is also one of the districts near the center that has a lot of primary apartments, while other districts near the center such as District 4 or Binh Thanh District have a shortage of this source.
According to Batdongsan.com.vn, the District 8 real estate market still has a lot of potential for real estate to bounce back in the future. However, investors need to carefully study the types and compare with other areas, in addition to closely following changes in planning, infrastructure and clearly understanding the legality of the project they want to invest in.
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