30 million VND per square meter of commune land on the outskirts of Saigon South 3

30 million VND per square meter of commune land on the outskirts of Saigon South 3

A project in Phong Phu commune, Binh Chanh district, Ho Chi Minh City sells townhouses for 2.4-3.5 billion VND per unit, if calculating land price 24-30 million VND per m2.

This is the highest land price frame in this commune within the past 12 months.

It was noted that on the opening day of this project, the 2.4 billion VND products were sold out due to their small quantity, and customers who wanted to buy had to accept the difference of 220 million VND per unit.

According to estimates by local land brokers operating in Phong Phu commune, Binh Chanh district, if we deduct the cost of building a house in this area, it is estimated at 4-5 million VND per m2 for finishing the exterior and rough construction inside.

Land in Phong Phu commune is doubling compared to the same period last year.

Compared to the same period last year, the fourth quarter of 2016, land prices in Phong Phu commune’s residential area fluctuated at 10-13 million VND per m2.

“Maybe the project has just announced its peak price because it is more methodically planned than the free construction plots outside.

VnExpress survey, on November 11, land with red book, free construction located around Phong Phu 4 residential area is being offered at a popular price of 2.2-2.7 billion VND per 100 m2 plot depending on the situation.

30 million VND per square meter of commune land on the outskirts of Saigon South

Locating map of Phong Phu commune, Binh Chanh district is located south of Ho Chi Minh City with Nguyen Van Linh street and National Highway 50 passing through.

Having observed the Saigon real estate market for 15 years, the director of a real estate floor specializing in operating in the southern urban axis of Ho Chi Minh City analyzed that, in terms of infrastructure, Phong Phu commune, Binh Chanh district does not have

Currently, the reason the land price in this suburban commune can approach 24-30 million VND per m2 is that in addition to being more methodically planned than neighboring products in the area, the project has been transferred from a local investor.

On the other hand, this expert believes that the psychology of land hoarding among people and speculators is driving the land-locked real estate market, which has contributed to driving up land prices in suburban communes.

“If the after-sale price continues to be pushed up while the buyer does not actually move to this suburban commune, investors who do not understand the market or have low capital may be at risk because they buy expensively but cannot sell.

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