Bcons Avenue: A Rare Find in Ho Chi Minh City’s Real Estate Market

According to a survey by Bigger, as of 2023, Ho Chi Minh City had approximately 600 apartment projects that had been delivered, offering over 320,000 apartments. Assuming an average of three people living in each apartment, nearly a million people, or 11.2% of the city’s population, reside in these apartments. This data highlights that apartments are the preferred choice for urban living in densely populated cities like Ho Chi Minh City.

However, owning an apartment in the city is becoming increasingly challenging due to rising property prices. While five to eight years ago, one could purchase a spacious apartment in the inner city for around VND 2 billion, the market has significantly changed. According to research firms, apartments in the VND 3 billion range are gradually disappearing from Ho Chi Minh City’s market. Savills Vietnam estimates that apartment products priced below VND 3 billion accounted for only 18% of the supply in the first half of 2024, and these projects are located more than 10km from the city center.

Bcons Avenue: Crafting a Modern Living Space

In the current real estate market landscape, Bcons Avenue, located on the Hanoi Highway, opposite the Eastern Bus Station and Suoi Tien Metro Station, offers a rare opportunity with prices starting from just VND 1.6 billion per apartment. This makes it an attractive option for both homeowners and investors in 2024.

Comparatively, Bcons Avenue presents the most competitive pricing in the market. Some projects under development in Thu Duc City are priced at over VND 60 million per square meter, with one project reaching VND 120 million per square meter, and a project in District 1 even offering apartments at VND 500 million per square meter.

A Strategic Investment with Instant Value Appreciation

Bcons Avenue stands tall at 35 stories with two basement levels, built on a land area of 3,351 square meters. It provides the market with 536 residential apartments and a host of amenities that ensure a convenient and comfortable daily life. These range from green spaces and a swimming pool to a BBQ area and a variety of commercial facilities on the ground floor.

When it comes to choosing a home, apart from price, connectivity is a key consideration for homeowners. In this regard, Bcons Avenue boasts an extremely convenient location. With the upcoming Metro line, residents will be able to reach District 1 in just 17 minutes, with a train departing every five minutes. The Ben Thanh-Suoi Tien Metro line is currently 98% complete and is in the final stages of preparation for operation in the fourth quarter of 2024.

Hanoi Highway Expansion to the Eastern Bus Station, with Ongoing Construction to Cau Dong Nai

For those traveling into Ho Chi Minh City by road, the area where Bcons Avenue is located offers easy access via the spacious Hanoi Highway – Vo Nguyen Giap route. In the near future, the Hanoi Highway will experience a significant reduction in heavy vehicle traffic as large cargo vehicles and containers heading to Cat Lai Port will utilize the Ring Road 3 and the Cat Lai-Phu Huu inter-port route once these two roads are completed.

Additionally, the distance from Saigon Bridge to the project will be shortened by 4km compared to the current route, as vehicles traveling on the Hanoi Highway will reach the Tan Van intersection and circle back to the project instead of continuing to Cau Dong Nai. The Tan Van intersection is already under construction, and the project is scheduled for completion in the same year as the expected handover of Bcons Avenue in the first quarter of 2027. Furthermore, for those traveling to other provinces, the Eastern Bus Station is conveniently located less than 1km from the apartment complex.

As a property located near a Metro station, Bcons Avenue is expected to experience significant price appreciation compared to other areas. This is due to its excellent transportation advantages, especially with the shift towards investing in and promoting public transportation. The area’s lifestyle will also become more prosperous to align with the expansion of urban areas along the Hanoi Highway gateway route. The development of office buildings and apartment complexes will create a vibrant and convenient space on both sides of the Hanoi Highway, stretching from Thu Duc City to the Eastern Bus Station.

With its combination of convenient infrastructure, transportation options, and a competitive price starting from VND 1.6 billion per apartment, Bcons Avenue is a rare find in today’s market. This is further emphasized by Ho Chi Minh City’s new land price adjustments, which have increased significantly in some areas by up to 50 times the previous rates. These adjustments will lead to higher project investment costs and, consequently, new apartment price levels. Therefore, Bcons Avenue is considered to possess most of the elements for value appreciation in the short term.

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