HCMC – Hanoi’s southern districts, once overlooked by property developers, are now emerging as a new growth area for the city’s real estate market, experts said at a seminar held today, December 10.
While the city’s center has seen rapid development and limited land availability, the southern area offers potential for growth.
Pham Nguyen Toan, vice president of the Vietnam Institute of Real Estate Research (VIRES), noted that the southern districts, such as Hoang Mai and Thanh Tri, have been relatively under-developed in the past decade.
A lack of comprehensive information and commercial apartment projects to meet actual demand has created a gap in the market, offering developers attractive opportunities, he added.
The southern districts are also poised to benefit from the city’s urban planning and infrastructure development. The Hanoi master plan identifies the southern region as a key growth area, with several new metro lines and expressways planned.
The upcoming North-South high-speed railway, with a starting point at Ngoc Hoi Station, is expected to have a huge impact on the area.
Nguyen Van Dinh, chairman of the Vietnam Association of Realtors (VARS), underscored the southern area’s strategic location as the city’s important gateway.
However, Dinh noted a supply shortage in the primary market with limited new projects, especially high-end ones.
