26/04/2023
After a "boom" in new supply with over 15,000 apartments launched in Q2/2022, the condominium market in Ho Chi Minh City saw a significant decrease in new supply in Q3/2022.
Most new projects or subsequent phases of existing projects offered a relatively limited number of units to the market, with new supply mainly concentrated in the East and South of Ho Chi Minh City. According to market reports from several reputable companies, Q3/2022 witnessed only 2,851 apartments launched, an 80% drop compared to the previous quarter, but a 49% increase compared to the same period last year. Despite the decline in new supply, the total new supply in the first nine months of 2022 still showed a notable recovery: a 142% increase compared to the first nine months of 2021, a 59% increase compared to the first nine months of 2020, and nearly 83% of the new supply in the first nine months of 2019—before the pandemic outbreak.
This indicates a gradual recovery of the condominium market in Ho Chi Minh City after the COVID-19 pandemic.
With the number of apartments supplied to the market increasing each year, it remains limited compared to the demand for luxury apartments in the Ho Chi Minh City market. This has led to luxury apartments continuing to be a lucrative market for investors in 2023, especially those with prime locations, clear planning, and future development potential.
Located in subdivision 3, specifically at 3.15 and 3.16, and situated near the foot of the Thu Thiem Bridge, The River Thu Thiem luxury apartment project will be a profitable investment or a perfect residence for your family today, with just a few minutes to connect to key locations in the city.
REFICO is a renowned name associated with several high-end real estate projects such as the Centre Point office building (Phú Nhuận District), the President Place office building (District 1), and the beachfront Sanctuary Ho Tram resort (Ho Tram). Particularly, the success of the City Garden luxury apartment complex (Bình Thạnh District) has elevated REFICO’s reputation to new heights, positioning it as one of the influential developers in Ho Chi Minh City.
Developed by REFICO, The River Thu Thiem is likened to a 5-star resort in the heart of the new Thu Thiem urban area, offering meticulously invested amenities, captivating green spaces, and unique lighting arrangements. Additionally, with its low construction density, The River Thu Thiem has become a prime focus for investors and residents from various places, all eager to own an apartment in this luxurious resort-style development.
Thu Thiem New Urban Area is a development project located on the Thu Thiem Peninsula, in Thu Duc City, across the Saigon River from District 1, Ho Chi Minh City. Spanning an area of 7.3 km² (730 hectares), Thu Thiem New Urban Area is envisioned as playing a role for Ho Chi Minh City similar to that of Manhattan in New York, USA. According to the 1/2000 scale master plan approved by the City People’s Committee on December 27, 2005, this will be the new central district of Ho Chi Minh City. It will feature a commercial and financial center with buildings ranging from 10 to 40 stories, some areas up to 32 stories, and residential zones accommodating 130,000 residents and 1 million visitors.
With 42% of the area designated for ecosystems and water surfaces, 24% for transportation infrastructure, and the remaining for residential, commercial, and administrative centers, the Thu Thiem New Urban Area has a meticulously detailed and clear plan. This plan prioritizes green spaces, ensuring Thu Thiem remains environmentally pleasant while still meeting key development objectives. These objectives, set by the People’s Committee, aim to establish Thu Thiem as the new financial hub of Ho Chi Minh City.
Situated in Subdivision 3 of the new Thu Thiem urban area, The River Thu Thiem boasts one of the most prime locations in Thu Thiem. The project is located right at the foot of the Thu Thiem Bridge, providing convenient transportation links. It only takes a few minutes to reach District 1, District 4, and Bình Thạnh. Additionally, it offers easy access to essential facilities like schools and hospitals. The River Thu Thiem is also located just 1 kilometer away from the 88-story observation tower (Subdivision 2) and approximately 500 meters from the central square and Opera House (Subdivision 1). With such a prime location, The River Thu Thiem will not only bring you closer to the iconic landmarks of the city but also indirectly increase the value of your property and enhance the liquidity of your investments at The River Thu Thiem.
"Proximity to Market, River, and Road"
This age-old philosophy in real estate is fully embodied by The River Thu Thiem. Besides being located in the new Thu Thiem urban area and just a few minutes away from the city center, The River Thu Thiem also enjoys a riverside position along the Saigon River. This is a significant advantage that few projects in Ho Chi Minh City possess. Having your apartment near the river offers health benefits by reducing dust pollution from traffic infrastructure, purifying the air, and lowering pollution levels. The serene natural scenery also provides a stress-relief solution, serving as a place to recharge and restore your energy and health after a long working day. Additionally, according to feng shui beliefs, riverside apartments bring good fortune, wealth, and abundant health to the residents.
In addition, the fact that The River Thu Thiem is located right next to the Arc Boulevard is another advantage that makes this project a focal point for investors. The Arc Boulevard holds a significant position in traffic connectivity and regional linkage between Thu Thiem and the central districts of the city. It is one of the four arterial roads of the new Thu Thiem urban area. With its six lanes, apartments near the Arc Boulevard can easily move between subdivisions, connect to major destinations in Thu Thiem, and address traffic issues that other areas in Ho Chi Minh City have not yet resolved.
Achieve Realty VN currently distributes real estate projects in the Thu Thiem urban area. If you need more information, please get in touch with the address:
Hotline: +8486 888 2539
Email: sales@achievereal.com
