Ho Chi Minh City's southwestern real estate buzz

The real estate market in southwestern Ho Chi Minh City is warming up thanks to cheap prices and expected transportation convenience.

Land area around the East-West Boulevard is attracting more real estate investors

Land prices in the area are said to be much cheaper than those in other parts of the city. Houses and apartments are attracting middle-income people.

Moreover, individuals and companies in the area are expected to find it easy to go to the city centre or have trade with northern provinces of the country when the East-West Boulevard is finished. The boulevard, about 22-kilometres long, is scheduled to be completed next year.

These factors have made real estate trading in the southwest part of Ho Chi Minh City more active than other parts of the city. Apartments in the area have quickly sold after they are put on the market.

Last week, more than 100 apartments of the Van Hung Phat High-class Apartment project in District 8 were sold during initial offerings. The project owner said it would have the second offering by the end of this year to meet the demand of customers.

Meanwhile, the owner of the Happy Plaza project (in Binh Chanh District) said they began offering in September and just two weeks after, the number of clients who registered to buy apartments had surpassed the number of their apartments.

The reports on Vietnam’s real estate market in the third quarter by CBRE Vietnam and Savills Vietnam shared a common view that real estate trading in the southwest part of Ho Chi Minh City would be the most active compared with other parts of the city.