As Thu Duc city on the outskirts of Ho Chi Minh City offers convenient traffic conditions, real estate projects adjacent to key routes like Ring Road 3 have continuously attracted both buyers and investors.
Ring Road 3, the backbone
Several major traffic infrastructure projects have been kicked off by the government to support Thu Duc’s development. In particular, the government considers construction of Ring Road 3 in the area and expressways in southern Vietnam as urgent tasks. The 76-kilometer beltway, which will connect HCMC with the neighboring provinces of Dong Nai, Binh Duong, and Long An, is expected to enhance regional links and economic development.
The HCMC administration expects Ring Road 3 to create a strategic traffic axis that would help remove transportation bottlenecks.
Ring Road 3, along with the completion of Ring Road 2 and construction of Ring Road 4 in the years to come, as well as the construction of Long Thanh International Airport in Dong Nai province and satellite towns, will all create strong development forces for Southern Key Economic Zone. Therefore, Thu Duc city will benefit from the advantages.
Thu Duc city, a hot spot
Thu Duc has recently seen a strong increase in real estate prices, up to twice the average or more in certain areas. Therefore, potential homeoweners have found they cannot afford their own properties.
However, when the MT Eastmark City complex in Thu Duc’s center introduced its riverside tower with prices starting from VND39 million ($1,682) per square meter, it became the hottest deal in town. The tower offers three frontage directions - Ring Road 3, and streets Truong Luu and Lo Lu, providing great traffic access, etc.
The project, which includes seven hi-end apartment blocks on 15 hectares, is designed as an all-in-one integrated urban area. Another advantage is pricing as housing prices in the area have climbed to VND55 million ($2,372) per square meter and over, possibly even double.
Paying a visit to the project, Trong Minh from HCMC’s District 3 said a buyer needs to pay 20% of the buying price initially - equivalent to VND550 million ($23,717) and enjoys a grace period of up to 18 months. He said the payment program is suitable for a young couple if their total monthly income starts from VND40 million.
As for investors, with location and quality taken into consideration, high-end apartments with prices offered by MT Eastmark City are safe places to invest and profit. With the increase rate of house prices in Thu Duc, a transfer after five years’ investment could deliver profits as big as the initial investment, while they can also earn rental.
Notably, Thu Duc is already planned to become a smart city, home to large-scale industrial parks and export processing zones, schools, and many other facilities.