The Marq Hongkong Land is luring savvy investors thanks to its prime development location due to close proximity to surrounding amenities
The Marq Hongkong Land is luring savvy investors thanks to its prime development location due to close proximity to surrounding amenities.
What are the commonalities in value creation of luxury condominium projects in the Central Business District (CBD) of Bangkok, Singapore and Ho Chi Minh City other than a super prime location besides architectural uniqueness, sophisticated interior design and premium amenities? Historically, the market had shown property prices of many luxury condominium projects in Central Bangkok like Sukhumvit area have sharply increased, with starting prices for many projects at US$8,000 per square meter, while the price for a 4 bed-room condominium in the CBD of Singapore is about US$26,000 per square meter. Therefore, what is the case in Ho Chi Minh City?
CBD – where an inch of land is considered an ounce of diamond
In major cities around the world, the CBD is considered to be the concentration of cultural, entertainment and commercial activities of the city with iconic architectures, skyscrapers, headquarters of MNCs, modern infrastructure and vibrant lifestyle. It’s why these areas are often planned for cultural & commercial purposes, not residential.
Therefore, condominium projects in the CBD are always sought after by savvy investors thanks to their increasing value over time. As an example, the average price at The Diplomat 39 – a 31 level Luxury High-rise Condominium located on Sukhumvit Soi 39, Bangkok’s most luxurious street – is US$10,000 per square meter, compared to US$8,700 per square meter of the same period last year, i.e, an increase of 15%; while the average price at The Orchard Residences in Singapore CBD is around US$26,000 per square meter, compared to US$24,000 per square meter of the same period last year, i.e. an increase of 8%. Historically, the market had shown the average price of condominiums in Bangkok’s CBD rose 48% between 2010-2019, while that in Singapore CBD grew 38%. Thereafter, the stability of condominium prices reinforces the perception of these prime location properties as safe haven assets in times of crisis and economic uncertainty, like right now.
Similar to Bangkok and Singapore, Ho Chi Minh City advocates restricted licensing of new residential projects in the CBD in order to create more spaces for commercial, financial, tourism and administrative functions. Out of five subzones in Ho Chi Minh City, the first zone is planned as the core area of the CBD with commercial, hospitality, travel and public administrative purposes. Inevitability, the CBD area will experience scarcity supply of luxury real estate properties, while the increasing demand for luxury homes continues. The Marq, the luxury condominium project located within this zone, will certainly attract vast demand.
What is the ideal choice for the savvy investors in Ho Chi Minh City?
Theo báo cáo nghiên cứu thị trường của CBRE, mặc dù tỷ lệ hấp thụ của bất động sản hạng sang tại Tp.HCM trong quý 3 năm 2020 trong bối cảnh Covid-19 thấp, nhưng giá vẫn tiếp tục tăng với tốc độ tăng trưởng 18% do nguồn cung hạn chế, tức là tăng 1 % yoy so với Q4 / 2019, đạt mức bình quân 6.371 USD / m2 – tất cả đều cho thấy diện mạo mới của phân khúc này, đặc biệt là ở khu trung tâm. Hơn nữa, lợi suất cho thuê tại Tp.HCM vẫn hấp dẫn ở mức 6-8% / năm. So sánh, giá bán trung bình của căn hộ hạng sang tại TP.HCM vẫn thấp hơn đáng kể so với các thành phố Nam Á khác như Bangkok, Kuala Lumpur, Singapore và Hong Kong với giá bán trung bình dao động từ 6.000 – 11.000 USD / m2.
The Marq is luring savvy investors thanks to its prime development location due to close proximity to surrounding amenities, as well as the modern architectural style expressed through smart design but still adheres to the orientation of creating a green living environment in the heart of the city, exquisite interior design and premium facilities. This testament is shown with The Marq being the proud recipient of five awards including three prestigious 5-star awards at Vietnam Asia-Pacific Property Awards 2020-2021: Apartment/Condominium, Residential High-Rise Architecture, Residential High-Rise Development, Mixed Use Interior and Residential Interior Show Home.
Jointly developed by Hongkong Land and An Khang, The Marq is a luxury residential high-rise building, located in the heart of District 1, HCMC. This development will provide 515 opulent residences comprising one- to four-bedroom condominiums offering stunning city views and a true luxury lifestyle for discerning investors.