The center of Ho Chi Minh City is always the area with the most expensive housing prices in Vietnam. In prime locations, real estate prices range from hundreds of millions to billions of VND/m2.
On Dong Khoi Street (Ben Nghe Ward, District 1), a 4-storey house with an area of 113 square meters is being offered for sale at VND250 billion. Thus, each square meter of this house costs about VND2.2 billion. Some other houses are also being offered for sale at around VND2 billion/square meter.
House prices on Dong Khoi Street fluctuate around 2 billion VND/m2. (Photo: Dai Viet)
On Nguyen Hue Street (Ben Nghe Ward, District 1), a 5-storey house with an area of 72 square meters is being sold for 79 billion VND. Thus, each square meter on this street costs about 1.1 billion VND.
According to VTC News, many houses on Nguyen Hue Street are being sold for between 1.6 and 4 billion VND/m2, depending on area and location.
Adjacent to Nguyen Hue Street, Le Thanh Ton Street (District 1) also has house prices ranging from 500 - 900 million VND/m2, depending on location and area.
Typically, a 5-storey house with an area of 130 m2 on Le Thanh Ton Street is being sold for 69 billion VND, or more than 530 million VND/m2. Another 8-storey house with an area of 160 m2 is also being sold for 138 billion VND, or more than 860 million VND/m2.
Other routes in District 1 such as: Hai Ba Trung have prices ranging from 450 - 800 million VND/m2, Cach Mang Thang Tam (430 - 750 million VND/m2), Bui Thi Xuan (470 - 740 million VND/m2).
Other routes in the center of Ho Chi Minh City have prices ranging from 450 million to 1 billion VND/m2. (Photo: Dai Viet)
Ms. Ngo Kim Yen, a real estate broker in District 1, Ho Chi Minh City, said that currently, the liquidity of real estate transactions in the city center is still quite quiet. The large value of real estate makes buyers and investors "hesitate", especially in the period when the economy has just begun to recover.
“Houses priced from VND8 billion to VND20 billion are still selling relatively well. However, houses priced from VND50 billion or more are selling quite slowly,” Ms. Yen said.
Mr. Dinh Minh Tuan, Southern Regional Director of the real estate website, commented that the most difficult time of the real estate market has passed.
The real estate market is likely to recover by mid-2024. When it enters the recovery phase, real estate prices will gradually increase again. Therefore, this is a good opportunity for those with available cash flow to buy. Investors can "hunt" for themselves real estate in good locations with good potential for price increases.
According to Mr. Tuan, if we pass this stage and enter the recovery period, it will not be easy to "hunt" for real estate at a good price. Therefore, people and investors should take advantage of the low interest rates and "affordable" real estate prices to enter the market.
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