×

How has Thu Thiem land price fluctuated over the past 20 years?

How has Thu Thiem land price fluctuated over the past 20 years? 3

How has Thu Thiem land price fluctuated over the past 20 years?

Over the past two decades, Thu Thiem land prices have never been a calm topic.

Thu Thiem urban area is located on Thu Thiem peninsula (District 2, Ho Chi Minh City), opposite District 1 across the Saigon River, with a total area of 657 hectares.

Planned into 5 main areas, this urban area has a central core area, a northern residential area, a residential area along Mai Chi Tho Avenue, an eastern residential area, and a southern delta area.

A component project in Thu Thiem Urban Area is gradually emerging.

Period 1996 – 2008 Thu Thiem land 150,000 VND per m2

This is a stormy period in the process of shaping this urban area.

In 2003, many people in An Loi Dong ward were notified of compensation for agricultural land at a price of 150,000 – 200,000 VND per m2.

In October 2008, the Ho Chi Minh City National Assembly delegation with the presence of the Head of State, President Nguyen Minh Triet, had a meeting with voters in District 2. At this meeting with voters, Mr. Triet received a series of

At that time, voters were upset that the land compensation price in Thu Thiem was too low. Many families did not accept this compensation level, so they persistently filed complaints for many years.

How has Thu Thiem land price fluctuated over the past 20 years?

Panoramic view of Thu Thiem from District 1.

In the period 2009-2018, Thu Thiem land prices increased hundreds of times

After a decade of land clearance compensation at very low land prices, in 2009-2018 Thu Thiem urban area entered the infrastructure phase, attracting and calling for investment, pushing land prices here to skyrocket.

In September 2015, in a report on Thu Thiem published by CBRE Vietnam, the average land price in Thu Thiem, District 2 reached a high level, recording more than 3,000 USD per m2 (equivalent to 68 million VND per m2).

However, by the end of 2017, according to the report on land price developments in Thu Thiem published by Gachvang Company Limited, the peak land price of this urban area reached nearly 170 million VND per m2.

The latest development was at the end of April 2018, the peak land price of Thu Thiem approached the threshold of 210 million VND per m2.

This report also updates land price fluctuations of 5 wards in the Thu Thiem planning area.

Although reports of peak land prices in Thu Thiem continue to increase each year, on May 9, when the National Assembly delegation listened to the opinions of Thu Thiem people, the pieces of the picture of land prices in the urban area

Voter Le Thi Bach Tuyet said she had just contacted the sales department of a project under construction on Mai Chi Tho Avenue, in her old home area, to ask for a price and was quoted a land price here of 350 million VND.

Statistics from Jones Lang LaSalle (JLL) Vietnam, by May 2018, the price of villas in Thu Thiem urban area recorded an average of 8,612 USD per m2 (equivalent to a townhouse priced at 196 million VND per m2).

Although Thu Thiem land prices are constantly increasing, the resettlement area located in the heart of this urban area is facing an empty house, with no one buying at auction.

The starting price of all 3,790 apartments is more than 9,000 billion VND, or an average of 2.37 billion VND per apartment.

Post Comment