The relationship between the development of the Metro system (MRT) and the increase in real estate prices around the Metro area (MRT)
Traffic convenience is an important factor affecting whether real estate is vibrant or not, in order to meet the travel and living needs of people, the Greater Taipei area in Shoushan District has gradually formed a System. Through the development and expansion of the MRT system, the number of properties in the MRT has also increased significantly. In addition, the government adopts the method of joint construction with the private, the three parties including the landowner, the construction company and the Taipei City Government to cooperate and share benefits, which also affects the supply, demand and real estate prices in the metro. Most of the increase in real estate prices around the MRT area in Taipei is in the period before and after the opening of the MRT line, that is, after the MRT line is opened in turn, the house prices near the MRT station will also increase. and the expansion of MRT has created a huge increase in property prices. However, with the development of the MRT system and the gradual integration of the network, the increase in MRT real estate prices also changes with time.
In Singapore, houses near metro stations or lines are always 15-20% more expensive than other neighborhoods and increase in price by about 20% within 3-5 years.
Metro Line 1 and a push for East Real Estate.
Ho Chi Minh City, with the largest population in the country, is increasingly facing many problems of the already inadequate, weak and overloaded infrastructure system. Therefore, the Metro system is an opportunity for infrastructure development, as well as restructuring for this urban area.
Currently, construction of Metro line 1 (Ben Thanh - Suoi Tien) has reached nearly 90% of the volume and the city aims to put it into operation by the end of 2021, but since 2015 there have been about 30 real estate projects open for sale. and follow this route. According to CBRE's report on the formation of the "Eastern City", since 2018, house prices on the secondary market have increased significantly when the Metro line is gradually completed, the asking price is 25-75% higher than the previous one. original starting price.
MASTERI LUMIER APARTMENT PROJECT DISTRICT 2 FINAL APARTMENT ON METRO LINE NO. 1 IN DISTRICT 2 COMING SOON OPEN FOR SALE THIS END OF April 2021
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Map of Metro Line 1 (Ben Thanh - Suoi Tien)
For example, Masteri Thao Dien project Hanoi Highway frontage when opened for sale in 2016 was only 35 million/m2, after 4 years, the average selling price now is from 65 million to 70 million/m2. After 4 years, real estate prices at Masteri Thao Dien project increased by an average of 12% per year
In addition, phase 1 of the ESTELLA HEIGHT project was opened for sale by the investor in 2017 (2 towers T1 and T2): The unit price of the construction area is about 2200USD / M2 (with 10% VAT), currently at the beginning of the year. In 2021, the selling price of the SPA rate is about 4,000 USD / M2, has increased by 80% in less than 4 years ===> the average selling price of the SPA rate has increased by 20% in one year
Phase 2 of the ESTELLA HEIGHT project is opened for sale by the investor in 2018 (2 towers T3 and T4): The unit price of the apartment is about 2,600 USD to 2,700 USD / M2 (including 10% VAT), now at the beginning of the year. 2021 SPA rates in the market are being resold for around $4,300 - $4,600/M2, increased by 65% to 70% in less than 3 years ===> an average increase of 20% to 25% a year
With the state promoting investment in infrastructure for the East, along with the establishment of Thu Duc City, when Metro Line 1 is put into operation in early 2022, it is certain that real estate prices along Metro Line No. 1 will have a lot of potential to increase in price in the coming years
