Thu Thiem shophouses priced at nearly one billion VND per square meter.

HCMC - Primary and secondary prices of shophouses in Thu Thiem have increased sharply, reaching nearly one billion VND per square meter, 10-20% higher than the same period last year.

The shophouse market in Thu Thiem (Thu Duc City) is recording the highest price level in HCMC, with a strong increase over the past year, especially in the central commercial axes within the Sala urban area.

Mr. Viet Dung, manager of a high-end real estate brokerage in Thu Duc City, said he had just completed a transaction for a 114 m2 shophouse in the Sari Town project (Sala area) for nearly 80 billion VND, equivalent to about 700 million VND per square meter. This price has increased by about 15% compared to the same period last year.

Ms. Thu, a broker specializing in commercial products in Thu Duc City, said that shophouses on Nguyen Co Thach Street (Sala urban area) are leading the price level in the Thu Thiem area. In particular, a two-frontage unit with an area of 170 m2, located near Thiso Mall shopping center, is being offered by the owner for 175 billion VND, equivalent to more than 1 billion VND per square meter, the highest level ever recorded on this route.

According to Ms. Thu, the prices of the remaining shophouses on the same Nguyen Co Thach route range from 800-900 million VND per square meter. Meanwhile, other internal commercial routes in the Sala area have softer prices, commonly from 500-700 million VND per square meter, equivalent to the price of high-end villas in the same area.

Nguyen Co Thach Street, in the Sala Urban Area, Thu Thiem. Photo: Phuong Uyen

VnExpress's records also show that in the first 5 months of the year, the secondary shophouse prices in the Sala urban area (Thu Duc City) ranged from 600-910 million VND per m2, an increase of 10-20% compared to the same period last year. Nearby roads such as Tran Nao and Luong Dinh Cua have asking prices of 500-600 million VND per m2, an increase of about 20%.

In the primary segment (opened for sale by the investor), the average price of shophouses in the East of Ho Chi Minh City, especially around Thu Thiem, also increased sharply by 10-20% compared to the same period last year. Global City is currently offering from 370-700 million VND per m2, Eaton Park from 320-720 million VND, and Lakeview City at 150-300 million VND. Some new projects, although located outside the core of Thu Thiem, still set a price range of 400-750 million VND per m2, leading to an increase in the prices of existing products in the central area.

Historical data from the Batdongsan website also indicates that shophouse selling prices in the inner districts of Ho Chi Minh City in the first 5 months of the year increased by an average of 16%, with the Thu Thiem area alone increasing by more than 20%. The common price range for commercial townhouses here ranges from 350 million to over 1 billion VND per m2.

Similar price increases were recorded by real estate consulting firm Savills and online real estate trading platform Nha Tot. Specifically, according to Savills, in the past three years, the primary price of commercial townhouses in Ho Chi Minh City has increased by more than 20%. According to data from Nha Tot, the primary selling price of shophouses here increased by 12%, and the secondary price by 13% in the first 3 months of the year.

Explaining the sharp increase in shophouse prices, Mr. Dinh Minh Tuan, Director of Batdongsan in the Southern region, said that it is thanks to three main factors: population density, shopping and entertainment ecosystem, and geographical location. Densely populated areas, which easily attract brands to rent premises such as Thu Thiem, often have high price increase margins.

Mr. Tuan analyzed that Thu Thiem is developing into a new financial and commercial center of Ho Chi Minh City, with rapidly completed infrastructure and a predominantly high-income population. The consumption trend here leans towards integrated complexes such as shopping centers, supermarkets, and cinemas, helping shophouses achieve good exploitation efficiency, thereby pushing up selling and leasing prices.

According to Ms. Cao Thi Thanh Huong, Senior Manager of Research Department of Savills Ho Chi Minh City, Thu Thiem shophouses maintain their upward momentum due to limited supply. This area prioritizes the development of public spaces and offices, with little land for landed houses, while there have been almost no new projects in the past three years. Even the neighboring areas mainly develop the high-end segment, causing primary prices to remain high and leading to a sharp increase in secondary prices.

In addition, the increase in apartment and landed house prices in the past also contributed to pushing the price level of shophouses in central locations or near major infrastructure axes to new levels.

Ms. Huong believes that shophouses are still a potential long-term investment channel, especially in cities with high population and income growth rates. However, she recommends that investors take a realistic approach and avoid purely expecting price increases.

To invest effectively, according to Ms. Huong, it is necessary to consider three factors: the location must have a clear residential community and consumption needs, not just be located on a major road; the design must be suitable for commercial purposes, with a wide frontage, separate entrance, and supporting infrastructure such as exhaust ventilation and escape routes; the legality must be transparent, especially for projects formed in the future, it is necessary to carefully check permits, progress, and commitments to issue pink books (land ownership certificates).

Mr. Dinh Minh Tuan also noted that investors need to balance between finance and profit, comprehensively calculate investment costs, taxes, operations and depreciation if exploiting business or leasing. He recommends not to buy according to herd mentality or attractive profit commitments, but to carefully assess the actual cash flow before making a decision.

Phương Uyên

according to vnexpress news