14.10.2021

Central HCMC real estate remains alluring

Real estate products, located in the financial and economic centers of big cities, own unique advantages and intangible values that generate long-lasting appeal.

Real estate in downtown areas has long been in the favored portfolio of experienced investors. The ranking of the most expensive housing markets in the world, published by Savills in March, was led by big cities that play the role of economic and financial centers like Hong Kong, New York, Tokyo, Geneva, Shanghai, London, and Sydney.

Experts believe the central position adds unique value and is a guarantee for the potential of real estate price increases. The city center is a multi-functional network with a tight structure including infrastructure, synchronous traffic, administrative agencies, and an ecosystem that fully meets entertainment and cultural needs, ensuring a comfortable and prosperous life.

Owning real estate in these areas also allows residents to affirm their status.

the central position adds unique value and is a guarantee for the potential of real estate price increases.

The central position adds unique value and is a guarantee for the potential of real estate price increases. Photo by Shutterstock

Property price appreciation potential in central District 1

VnExpress survey found that luxury apartments in Ho Chi Minh City reached a peak price from the beginning of 2021, the highest in the past decade, with the prices of hundreds of millions of dong per square meter. Especially, luxury apartments in prime locations like District 1 appear at peak prices of VND300-400 million per square meter, breaking the record for the highest price of apartments in Vietnam ever.

DKRA Vietnam, in a report on the housing market in HCMC for the first quarter of 2021, forecasts that luxury apartments would set a new price record, breaking the previous one, with prices ranging from $20,000 – 30,000 per square meter, concentrated in the central area of District 1.

Experts believe the scarcity of land funds and newly licensed projects make properties in central District 1 attractive. The supply has been gradually depleting in the central area, while the demand for luxury apartments remains high due to the rapid increase in the number of rich people and a huge short-term and long-term rental demand among businesspeople, politicians, diplomats, and senior experts.

A Musical Perspective of

The perspective of The Grand Manhattan in central HCMC. Photo by Novaland

In addition, District 1 has caught the eye of foreign investors due to lower price levels and a stable macroeconomic environment, compared to central real estate markets in Asia like China, Hong Kong, and Singapore.

The Grand Manhattan, new splendor in downtown HCMC

Located in front of golden Co Bac – Co Giang Street, The Grand Manhattan has prime coordinates at the intersection of cultures, bearing the imprint of architecture – history – people of Saigon. The project is only a few minutes away from Ben Thanh Market and the iconic Notre Dame Cathedral, City Theater, Post Office, Bui Vien, and Nguyen Hue pedestrian street.

The project owns a prosperous commercial location, adjacent to “financial wall street”, a center of bank headquarters, securities companies, and Grade A office buildings.

The Grand Manhattan serves the luxury lifestyle of elites, successful businesspersons, and foreign experts by offering a luxurious lobby, modern shopping space, overflowing swimming pool, and 5-layer security system. Especially, the 5-star standard Avani Saigon hotel, located right in the project’s podium, serves full 5-star standard, 24-7 facilities like “all day dining” restaurant, spa, swimming pool, meeting room service, and shuttle services.

the 5-star standard Avani Saigon hotel, located right in the projects podium

The 5-star standard Avani Saigon hotel is located right in The Grand Manhattan’s podium. Photo by Novaland

While the central real estate market lacks new supply, The Grand Manhattan is seen as a sustainable settlement option, seizing opportunities ahead of real estate market recovery.

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