Why apartments along HCMC Ring Road 3 sell well

By Gia Huy, Tuong Thuy
Sat, June 4, 2022 | 8:52 am GMT+7

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.

A section of Ring Road 3 on the outskirts of Ho Chi Minh City. Photo by The Investor/Gia Huy.

A section of Ring Road 3 on the outskirts of Ho Chi Minh City. Photo by The Investor/Gia Huy.

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.

An artist’s impression of the MT Eastmark City complex in Thu Duc city on the outskirts of HCMC, southern Vietnam. Photo courtesy of MT Eastmark City.

An artist’s impression of the MT Eastmark City complex in Thu Duc city on the outskirts of HCMC, southern Vietnam. Photo courtesy of MT Eastmark City.

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.

Indoor facilities for an MT Eastmark City apartment. Photo courtesy of MT Eastmark City.

Indoor facilities for an MT Eastmark City apartment. Photo courtesy of MT Eastmark City.

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.

Comments (0)
  • Read More
Major Vietnamese developer Novaland appoints new CEO

Major Vietnamese developer Novaland appoints new CEO

Duong Van Bac, who joined Novaland as chief financial officer in August 2023, has been appointed general director, starting Friday.

Companies - Sat, November 2, 2024 | 10:24 am GMT+7

Vietnamese conglomerate Bamboo Capital posts 36-fold profit growth in Q3

Vietnamese conglomerate Bamboo Capital posts 36-fold profit growth in Q3

Ho Chi Minh City-based Bamboo Capital Group recorded an after-tax profit of VND331.2 billion ($13.1 million) in the third quarter of 2024, an astounding 36-fold expansion year-on-year.

Bamboo Capital - Sat, November 2, 2024 | 9:41 am GMT+7

ThaiBev to bag $54 mln from Sabeco’s upcoming dividend payout

ThaiBev to bag $54 mln from Sabeco’s upcoming dividend payout

Vietnam Beverage, wholly owned by Thai Beverage (ThaiBev) will rake in VND1,374 billion ($54.26 million) worth of dividend from Ho Chi Minh City-based top brewer Sabeco.

Companies - Sat, November 2, 2024 | 9:13 am GMT+7

Steel heavyweight Hoa Phat pours over $2 bln into central Vietnam complex

Steel heavyweight Hoa Phat pours over $2 bln into central Vietnam complex

Leading Vietnamese steelmaker Hoa Phat had invested more than VND52.5 trillion ($2.08 billion) in its Dung Quat Iron and Steel Integrated Complex (Dung Quat 2) in the central province of Quang Ngai as of Q3/2024.

Industries - Sat, November 2, 2024 | 8:00 am GMT+7

Vietnam becomes Australia’s fastest-growing inbound market

Vietnam becomes Australia’s fastest-growing inbound market

The number of Vietnamese tourists to Australia has grown significantly after the Covid-19 pandemic, with nearly 178,000 reported in the 12 months to August 2024, according to a Friday press release by the Australian Minister for Trade and Tourism’s Office.

Southeast Asia - Fri, November 1, 2024 | 10:02 pm GMT+7

Study finds shift in Thai consumers’ spending patterns

Study finds shift in Thai consumers’ spending patterns

Consumers in Thailand are shifting their spending focus to experiences and investments, according to the latest ASEAN Consumer Sentiment Study (ACSS) by United Overseas Bank (UOB).

Southeast Asia - Fri, November 1, 2024 | 10:00 pm GMT+7

Energy security, digitalization key to Indonesia's economic growth

Energy security, digitalization key to Indonesia's economic growth

The Indonesian government is prioritizing long-term economic growth through energy security, digitalization, and natural resource industrialization, according to Deputy Minister of Finance Thomas Djiwandono.

Southeast Asia - Fri, November 1, 2024 | 9:58 pm GMT+7

Vietnam PM's Middle East tour creates breakthroughs in economic, trade, investment cooperation: FM

Vietnam PM's Middle East tour creates breakthroughs in economic, trade, investment cooperation: FM

Prime Minister Pham Minh Chinh’s freshly ended six-day trip to the UAE, Saudi Arabia and Qatar has produced important outcomes, demonstrating the growing relations between Vietnam and the three Middle-East countries, Deputy Prime Minister and Foreign Minister Bui Thanh Son told the Vietnam News Agency.

Politics - Fri, November 1, 2024 | 9:25 pm GMT+7

Vietnam, Qatar look to tap potential for energy, oil & gas collaboration

Vietnam, Qatar look to tap potential for energy, oil & gas collaboration

Vietnam and Qatar have recognized the significant potential for further collaboration in multiple sectors such as energy, oil and gas, especially LNG, agriculture, Halal industry, and banking.

Politics - Fri, November 1, 2024 | 9:02 pm GMT+7

Thailand bans export of raw palm oil until December

Thailand bans export of raw palm oil until December

Thailand's Department of Internal Trade has temporarily banned the export of raw palm oil due to reduced production caused by drought and plant diseases.

Southeast Asia - Fri, November 1, 2024 | 8:31 pm GMT+7

Envision Energy to build $420 mln wind power plant in Vietnam from June 2025

Envision Energy to build $420 mln wind power plant in Vietnam from June 2025

Envision Energy Singapore Pte Ltd, under China-based Envision Energy, aims to kick off construction of the 300-MW Envision Nam Po wind power plant in Vietnam’s northern mountainous province of Dien Bien in June 2025.

Energy - Fri, November 1, 2024 | 8:30 pm GMT+7

Indonesia to ban plastic waste imports from 2025

Indonesia to ban plastic waste imports from 2025

The Indonesian government will start imposing a ban on the import of plastic waste from the beginning of next year, according to Minister of Environment Hanif Faisol Nurrofiq.

Southeast Asia - Fri, November 1, 2024 | 8:29 pm GMT+7

Islamic economy makes up 48% of Indonesia’s GDP

Islamic economy makes up 48% of Indonesia’s GDP

The contribution of Islamic business activities to Indonesia’s GDP has been estimated at 48%, local authorities reported at the 11th Indonesia Sharia Economic Festival (ISEF).

Southeast Asia - Fri, November 1, 2024 | 8:28 pm GMT+7

Restructured construction giant Tracodi gets set to execute ambitious plans

Restructured construction giant Tracodi gets set to execute ambitious plans

After changing its name and restructuring as a group, Tracodi Construction Holdings JSC (HoSE: TCD), a member of Bamboo Capital Group (HoSE: BCG), has completed a leadership shake-up and is poised to achieve rapid growth.

Bamboo Capital - Fri, November 1, 2024 | 4:43 pm GMT+7

Philippines requests companies to pay for plastic waste treatment

Philippines requests companies to pay for plastic waste treatment

The Philippines expects its "Extended Producer Responsibility" (EPR) that came into force last year will help it curb plastic waste

Southeast Asia - Fri, November 1, 2024 | 4:30 pm GMT+7

Indonesia warns of rising online terrorism

Indonesia warns of rising online terrorism

Indonesia's National Counter-Terrorism Agency (BNPT) has warned of a shift in terrorism tactics, moving from public attacks to online platforms that target vulnerable groups, particularly women and children.

Southeast Asia - Fri, November 1, 2024 | 4:29 pm GMT+7