The highest land price in Thu Thiem is nearly 210 million VND per square meter

Avatar of Nick John By Nick John Dec5,2023 #highest #Thiem
The highest land price in Thu Thiem is nearly 210 million VND per square meter 5
The highest land price in Thu Thiem is nearly 210 million VND per square meter 5

Gachvang Company Limited (a unit that uses algorithms to value land) has just released the latest report on land price developments in Thu Thiem urban area, District 2, Ho Chi Minh City updated to the end of April 2018.

The top 3 routes with the highest land prices in Thu Thiem are Tran Nao, Luong Dinh Cua and Mai Chi Tho respectively.

The second most expensive land price in Thu Thiem urban area is Luong Dinh Cua street, recording 177.5 million VND per m2.

This report adds that District 2 has a total of 11 wards, of which land prices in An Loi Dong and Thu Thiem wards are the highest compared to the rest of this district.

Thu Thiem Ward is also on the list of areas with the most volatile land prices in District 2. Wards with strong land price increases over the past 12 months include: Binh Khanh (38.19%), Thu Thiem Ward.

The 3 routes with the highest land prices in Thu Thiem are Tran Nao, Luong Dinh Cua and Mai Chi Tho respectively.

In a report on Thu Thiem published at the end of 2017, Jones Lang LaSalle (JLL) Vietnam stated that land prices in Thu Thiem are currently one-third of the land prices in the existing central area of Ho Chi Minh City (District 1).

JLL added that, as of 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).

Meanwhile, according to data updated to May 9, 2018 on the bandogiadat portal, urban land on Tran Nao street only costs 100-110 million VND per square meter depending on location.

Also on Tran Nao street, the section from Hanoi Highway to Luong Dinh Cua, urban land prices regulated by the state are even lower, remaining at 3.6 million VND per m2.

Mai Chi Tho route, the traffic axis considered to be the most beautiful in Thu Thiem urban area according to bandogiadat, has a market price of 60-65 million VND per m2.

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.

Thu Thiem urban area is planned into 5 main areas: central core area, northern residential area, residential area along Mai Chi Tho Avenue, eastern residential area, southern delta area.

To invest in building this new urban area, Ho Chi Minh City took 10 years to clear almost the entire Thu Thiem peninsula, about 15,000 households were relocated to make room for this super project.

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