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Nearly 10,000 USD per m2 of apartment shop in South Saigon

Thursday - 21/02/2019 18:14
Ground floor apartment on Nguyen Duc Canh Street, District 7, offered for sale 4,300-9,900 USD per m2.
CBRE Vietnam has just released the latest report on the ground floor apartment market of apartments in southern Saigon, with the highest asking price recorded at the project on Nguyen Duc Canh street, in the price range of 4,348-9,913. USD per m2. Meanwhile, Sky Garden and Happy Valley (Phu My Hung), apartment blocks of apartment blocks are priced at 3,900-5,600 USD per m2.

These apartment block apartments received great attention from investors. The appeal of this asset lies in the scarcity, favorable position for trade, combining many functions from self-employment to leasing.

In the southern area of ​​Ho Chi Minh City (mainly District 7), the place has formed and concentrated large communities including domestic and foreign, with high demand for shopping and eating. Nearly two decades, the apartment block shophouse products at The Crescent, Canh Doi, Nam Vien, Entertainment culture areas, the Canal operated quite bustling.

Currently, District 7 area has 471 shophouse units in the podium of apartment projects with an average asking rent of US $ 22-30 per m2 per month. The main businesses in these shophouses are mainly services, food, furniture and convenience stores with the participation of many international and domestic labels: 7 Eleven, El Gaucho, Thea Clinic, Genshai, Vinmart ...
Existing apartment projects around Nguyen Huu Tho Street (District 7 and Nha Be) all offer shophouse apartments on the ground floor. Some new or under construction apartment projects, shophouse units are offered for an average price of USD 2,767-3,652 per square meter. Rental rates in the region also reached an average of 10-25 USD per m2 per month.

Noted by VnExpress, currently the ground floor shops in Ho Chi Minh City, have a modest number of products, accounting for 3-5% of the total product in the project. The concept of shophouse is often used for 2 product groups. One is a commercial townhouse on the big road of the project. The second is the apartment located in the apartment block.

Although the quantity is limited and the price is expensive, not all shophouse models are successful. The shophouse rental rate, once recorded in Ho Chi Minh City, is at least 1.5-2%, which is considered unattractive. But the expected common income from this asset lease is about 7-8%. Particularly, some shophouse products are located in prime areas that once achieved an 8-10% rental rate.

Author: Translated by CoPhieuViet.Com

Source: Vnexpress newspaper

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