Looking ahead, Professor Tran Kim Chung, former Vice Director of the Central Institute for Economic Management Research (CIEM), predicts that the Land, Housing, and Real Estate Business Laws, which will take effect on August 1, 2024, will be a pivotal factor. This will help untangle legal complexities and restore investor confidence, ushering the market into a phase of stability and growth from mid-2024 onwards.
Research from Guotai Junan Securities (Vietnam) indicates that the country’s real estate market is closely following the recovery trajectory: in the first half of 2024, new supply and market transactions surged, tripling and increasing 2.4 times, respectively, compared to the previous quarter.
In addition to the positive impact of the three new laws, the South of Ho Chi Minh City is expected to become a magnet for investment. This is due to the confluence of several critical infrastructure projects slated for completion by the year’s end and new developments in the city’s master plan.
Specifically, on August 30, 2024, the Cay Kho Bridge was officially opened to traffic, ending the isolation of Nha Be’s southern region from the central districts.
In late September 2024, the HC2 underground tunnel at the Nguyen Van Linh – Nguyen Huu Tho intersection will be opened, with other key projects also being expedited for completion by the end of 2024, including Rach Dia Bridge, Phuoc Long Bridge, and the Ben Luc – Long Thanh Expressway technical opening.
These projects will not only alleviate traffic congestion but also enhance connectivity between southern Ho Chi Minh City and surrounding areas, providing a significant boost to the region’s real estate market.
Nha Be’s infrastructure development surges ahead, with projects consistently meeting their deadlines by the end of 2024.
Moreover, the shift in Ho Chi Minh City’s master plan holds significant importance in promoting the southern region as an attractive investment destination. According to the new urban development orientation plan, the city will develop as a multi-center metropolis with five urban subdivisions. The southern region, encompassing District 7, Nha Be District, part of Binh Chanh District, and all of Can Gio District, aims to become a modern urban area with harmonious ecological green spaces. It will provide at least 60% of on-site functions to help the city decongest its center, alleviate infrastructure bottlenecks, and facilitate population distribution.
From the perspective of a long-time investor and head of market research at a prominent real estate company in Ho Chi Minh City, Mr. Thai Hoang Nam, the southern region of Ho Chi Minh City will emerge as an appealing “front-runner” destination during the market’s recovery and stabilization phase in late 2024. New projects introduced at this juncture that meet customers’ expectations regarding reputation and quality will be the preferred choice.
A notable project in the southern part of Ho Chi Minh City is the Khai Hoan Prime, conveniently located on Le Van Luong Street in Nha Be, just a 5-minute drive from Phu My Hung Urban Area. This project not only caters to actual housing needs but also presents a lucrative investment opportunity due to its proximity to critical infrastructure in the area.
On September 15, 2024, the developer held an event to introduce Mika Tower, the “heart” of Khai Hoan Prime, which attracted numerous customers and investors. This central section of the project boasts exclusive attractions, including a 3,000 sqm Clubhouse, a riverside walking path, BBQ Riverside, a mineral salt pool, and a Jacuzzi-style hydrotherapy pool, all evoking a resort-style ambiance.
During the event, customers had the opportunity to explore the Mika show flat, tour the construction site, receive in-depth consultations about the project, and enjoy various engaging activities. Additionally, the developer unveiled a range of sales incentives to alleviate customers’ financial burden, such as a 20% down payment, 1% monthly installments, up to 14% discounts, a 24-month grace period for principal and interest payments, and a special program where “reservation amounts equal discounts” ranging from VND 30-50 million, along with a 12-month management fee waiver and a 2% privilege discount for customers with successful transactions during the event.
One lucky attendee, Ms. Sau, who won an Iphone 15 Promax in the lucky draw, shared her joy at choosing her ideal apartment with attractive discounts that resulted in significant savings. Other attendees also received gifts from the developer and won valuable prizes through lucky draws, including an LG refrigerator and a Tan A Dai Thanh water purifier.
Event attendees were delighted to receive valuable gifts.
Backed by the developer’s solid reputation and strong financial capabilities, Khai Hoan Prime assures complete legal compliance and impressive construction progress. The project has already completed the basement floors of two towers (Mika and Vinci) and the B1 & B2 basement levels of tower C (Gali), and is ready to enclose the entire basement, with expected delivery in Q4 2025.
Khai Hoan Prime Apartment Building Project – Nhon Duc Commune, Nha Be District
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In today’s turbulent property market, it is essential for prospective homebuyers to remain vigilant and informed. With prices fluctuating, it is crucial to research the history of price increases to avoid falling prey to inflated valuations. Being aware of the market trends and price history will empower you to make informed decisions and navigate the market with confidence.
