Fri. Jul 19th, 2024

CBRE: House prices near the Metro line increased 75% in 5 years

CBRE: House prices near the Metro line increased 75% in 5 years 3
CBRE: House prices near the Metro line increased 75% in 5 years 3

According to CBRE Vietnam’s thematic report on the formation of `Eastern City`, the housing market in this area will have many opportunities to grow in supply as well as in price in the near future.

Specifically, since Metro Line 1 began construction in 2012, many apartment projects and commercial centers have been formed along this transportation route.

During the period 2015-2020, the selling price of luxury apartments on the primary market in District 2 increased by an average of 7.3% per year, exceeding the average increase of the entire market and there is still much potential for price increases in the future.

Real estate market around Ho Chi Minh City’s first Metro line.

This unit forecasts that in the period 2020-2025, the next 5 years, new supply for sale in the Eastern City will be quite abundant, with an average annual growth rate of 11.5%, equivalent to 15,000 units.

CBRE assesses that the expansion into the eastern area of Saigon and the formation of `Eastern City` with the plan to merge districts 2, 9 and Thu Duc into one administrative unit will bring many changes to the area.

The most prominent projects of the Eastern City include Metro Line No. 1 with a total length of 19.7 km starting from Ben Thanh station in District 1 to the last station of Long Binh Depot, District 9.

Ms. Duong Thuy Dung, Senior Director of CBRE Vietnam, commented that in the coming time, the Eastern City in general and the Metro line in particular, may become the target of many home buyers as well as investors.

However, Ms. Dung recommends that buyers should consider additional factors such as noise and traffic congestion around the Metro station, as well as pay special attention to the investor’s reputation, legal status and

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