Market demand accelerates satellite city momentum
Market demand accelerates satellite city momentum
The demand for quality living space has blossomed post-pandemic, adding attraction to eco-real estate in satellite cities.
Satellite real estates maintain the heat in the Covid-19 pandemic
In Vietnam, the two central cities, Hanoi and Ho Chi Minh City, are facing pressure from population growth and urban infrastructure. Satellite urban development is considered a solution to redistribute the population, creating consistent development across regions.
A recent talk on keeping a pulse on satellite urban real estate held by Vhome, a real estate data channel operated by VnExpress, highlighted the policy of developing satellite cities has opened up a trend of satellite real estate investment. About 10 years ago, many investors had their eye on satellite properties in the neighboring industrial cities of HCMC like Dong Nai and Binh Duong. The next 10-20 years are forecast to be a decade of satellite real estate.
Customers visit the mock-up unit of Aqua City. Photo by Novaland |
Pham Duc Toan, general director of EZ Vietnam, a real estate connoisseur, suggested the land fund in key cities is increasingly depleting. Meanwhile, satellite urbans with large land banks, are offering preferential policies to attract investment, boost the economy and expand the regional transport network with synchronous infrastructure and utilities.
He added that the price of land in satellite cities is still affordable and has potential to increase. In terms of growth rate, some areas have fluctuated up to 100-200 percent in 1-2 years, according to Toan.
"While the Covid-19 pandemic is like a storm devastating the economic and real estate industry, some satellite markets have not yet recorded a decline in prices," it was emphasized.
Aqua City ecological urban area. Photo by Novaland |
According to Phan Cong Chanh, an expert in real estate investment, the pandemic has accelerated the trend of ecological and healthy living. After social distancing and working from home, many people have changed their criteria for choosing a home to adapt to the new normal. For them, living space plays a particularly important role, directly affecting both physical and mental health. Many are willing to move away from the centers to enjoy a better living environment for both their families and themselves.
In addition, Vietnam is entering the decade of automobiles. With the number of car owners increasing rapidly, travel time is shortened, the distance is no longer an issue. "Therefore, the trend of moving to satellite urban areas for a quality living space will become stronger," Chanh said.
Top investors' interest
A survey on satellite cities conducted by Vhome shows the East of Saigon, especially Dong Nai, to be among the leading satellite markets most attractive to investors, with a rate of investment of 20.2 percent, followed by Bac Ninh at 12.1 percent.
The province boasts many advantages including high concentration of industrial parks, economic development, convenient transport, a large land bank, river system suited for development of large-scale ecological urban areas with complete utilities.
In particular, this is also a location where a series of key infrastructure is being promoted, contributing to satellite real estate to the east of HCMC. Accordingly, the trend of population expansion to satellite cities is opening up prospects for eco-urban projects.
For instance, Aqua City, developed by Novaland Group on a scale of 1,000 hectares, is a typical smart ecological township in the east of HCMC. Surrounded by Dong Nai River and creaks, Aqua City is smartly planned under an all-in-one model with world-class amenities, offering residents a modern living experience in harmony with nature, comprising squares, a marina complex, international standard hotels and resorts, mall, entertainment facilities, multi-purpose sports, schools, and international hospitals.
Perspective of the complex of squares - Aqua Marina at Aqua City. Photo by Novaland |
According to investors, Aqua City is even more attractive after the social distance, when customers can visit, experience this project’s "change of flesh".
With the trend of green living after the pandemic, ecological real estate is forecast to be a magnet to attract market capital flow in the year-end period.
With an initial 5 percent payment, customers can own properties in Aqua City together with various offers: a Novaspecial Gift of up to VND1 billion, 4 percent discount in product value (based on bank loan maturity), Novaland preferential shares of VND220, free garden design package up to 500 million VND.
Visit Aqua City's virtual model here or call the hotline: 0943797979.
