Before city information, investor psychology “pleased return”
Located at the gateway of Eastern HCMC, Nhon Trach is a buffer zone connecting HCMC with Long Thanh international airport. At the same time, it is the focal point connecting 5 key economic regions in the South: HCMC, Binh Duong, Dong Nai, Ba Ria – Vung Tau, Long An.
Recently, the Standing Committee of Dong Nai Provincial Party Committee has issued Resolution No. 09-NQ/TU on the development of Nhon Trach city by 2030, vision until 2040. Accordingly, the Resolution sets the target of striving to establish Nhon Trach city by 2030 to meet the basic criteria of a type II city. In the following years, continue to invest in the construction and upgrade of urban areas to meet the criteria of a type I city. Also according to the Resolution, by 2025, Nhon Trach will meet the criteria of a type III city.
In terms of planning infrastructure, Nhon Trach has strengths in transportation connectivity to directly connect with external traffic routes such as Ben Luc – Long Thanh expressway, Ho Chi Minh City ring road 3, road 25C extension and seaport road. Besides, this is also an area located in the urbanization zone of Ho Chi Minh City and has favorable land fund for large urban area development.
It is forecasted that when Long Thanh international airport is put into operation, it will have a great impact on the growth of the real estate market in this area. Currently, real estate prices in Nhon Trach are lower than in Long Thanh or Trang Bom, so the opportunity is still high.
Infrastructure and planning information have positively impacted the real estate market in Nhon Trach. Photo: Ha Vy
Recently, information about major infrastructure projects such as ring road 3 and urban planning has had a clear impact on the psychology of investors in the Nhon Trach market. From Q2/2023 to now, signs of investors taking advantage of the opportunities from planning and infrastructure have appeared in the market. At the same time, real estate investors here expect “falling points” of growth can occur from late 2024 onwards.
A notable feature in the Nhon Trach real estate market is that at present the prices of houses and land are approaching more closely to the practical needs. After a silent period, real estate prices here no longer increase dramatically like in the previous period. The projects launched in this period have adjusted to the needs of the majority of customers. The combination with planning information can be one of the factors affecting the buying and selling psychology, marking the recovery of the apartment market in this area.
Real estate search rate increases
According to records, in the land segment, current prices have decreased by 10-25% (depending on the area, location), this decrease has cooled down compared to the late of 2022 and the beginning of 2023. However, the market liquidity is still relatively slow.
On the contrary, in the apartment and townhouse segment, the search rate has shown a clear increase since late 2023. Specifically, real estate projects near industrial parks, ring roads show no signs of price reduction and the interest rate is still optimistic. For example, currently in the area there is the FIATO City apartment project of Thang Long Real Group, which is receiving positive attention from buyers. This project is near ring road 3 and Long Thanh airport, so it has great potential for future value appreciation.
In this segment, investors are heading towards rental demand to create stable monthly income. Therefore, apartments with reasonable prices for experts and young families to rent are having good liquidity. Unlike the previous stage, when the main investors were from HCMC, currently 60-70% of customers interested in projects in Nhon Trach are local residents.
In the real estate news of the end of 2203, Mr. Nguyen Van Cuong, Chairman of the Executive Committee of the Real Estate Brokers Association (VARS) said that the search for apartments in Dong Nai has increased by 14% despite a 13% decrease in supply. Land and houses are also experiencing growth through search statistics. Even the attached villa segment, although not recording significant recovery, this type of search also increased by about 2%. The positive point of the real estate market here is the increasing trust of home buyers, in both land and apartment segments.
According to Mr. Cuong, the positive recovery signals of the Dong Nai real estate market come from many factors. In addition to the strategic location that is easily connected to HCMC and neighboring areas; infrastructure system, planning, Dong Nai real estate is also directly affected by the momentum of diversifying product types; stable economic growth. From there, create a positive environment for the sustainable development of the real estate market in this area in 2024.
On this market, there is also a diversity in selling prices and types of real estate from land, townhouses, apartments to new urban projects, resorts and industrial land…
According to the survey, specifically land prices are priced from 7 – 40 million VND/m2; apartments range from 15 – 35 million VND/m2. This price range has remained stable in many areas due to meeting real needs, except for some areas with higher prices, but the price difference is not significant. Other segments are currently reducing prices by 10-20% compared to the bustling market period.
Mr. Cuong said that in the Nhon Trach real estate market, immediately after the information aiming to become a provincial-level general center, a satellite city of HCMC has had a positive impact on the psychology of investors with special attention to affordable apartments and rental investors. It is expected that the real estate market here will continue to undergo positive changes in the near future.
