Comment on the selling price of Vinhomes Central Park apartments in 2024 – Certain increase Increase

Vinhomes Central Park is a symbolic project of Vingroup in Ho Chi Minh City. Vinhomes Central Park or Vinhomes Tan Cang is located in a convenient location on the banks of the Saigon River, in the city center, near District 1. The project includes 18 high-rise buildings, high-quality apartments, amusement parks, parks, schools, hospitals, shopping centers and other amenities. Designed according to a modern urban model, the Vinhomes Central Park project provides a comfortable and convenient living environment, and is the ideal choice of many people.

Living amenities at Vinhomes Central Park

Vinhomes Tan Cang is an attractive destination for real estate investors with high profit potential because of its prime location and reputation of Vingroup.

The selling price of Vinhomes Central Park apartments increased by 80% or more, compared to the selling price of 42-45 million/m2 (selling price in 2015), equivalent to the current selling price of 80 – 86 million VND/m2. According to City Apartment’s assessment, with the potential of a golden location right in the center, product quality and investor reputation, the selling price will certainly increase in the future. To clarify the above statement, we can clearly look at some evidence as follows:

  1. Projects in the center cannot reduce prices because there is not much land left for high-rise buildings.
  2. Licensing and construction application procedures according to new regulations are more difficult and have more conditions, leading to a longer time to launch a new project.
  3. Borrowing costs increase.
  4. Labor costs increase.
  5. Prices of construction materials increased.

According to data of Batdongsan.com.vn:

Selling price growth in the past 5 years: In the period from quarter 1/2019 to quarter 4/2023, apartment selling prices at this project increased significantly, reaching 57.1%. This shows the stable and strong growth of the real estate market, especially in prestigious locations and projects like Vinhomes Central Park. Specifically:

  • The selling price of Vinhomes Central Park peaked at about 90.7 million/m2 in the fourth quarter of 2022.
  • Price Q4/2022: 90.7 million/m2
  • Price Q1/2023: 84.2 million/m2
  • Price Q2/2023: 82.1 million/m2
  • Price Q3/2023: 83.8 million/m2
  • Price Q4/2023: 86.9 million/m2

Stable nature of selling prices in 2023: In 2023, apartment selling prices show signs of stability and increase slightly over the quarters, with the strongest growth coming from the third quarter to the fourth quarter. This may reflect the strength of the market and strong demand from buyers.

Current and peak selling price: The current selling price (86 million VND/m2) compared to the peak in the fourth quarter of 2022 (90.7 million VND/m2) has slightly decreased, but still remains at a high level. This may reflect a number of factors such as a natural market correction after a period of rapid growth.

Based on the above information, it can be said that the selling price of Vinhomes Central Park apartments in 2024 may continue to increase, but the growth rate may be more stable than the previous period. This depends on many factors such as the economic situation, real estate management policies, and customer demand. However, based on the stability of the market and the project’s reputation, selling prices can continue to remain high and have growth potential in 2024.

Dear Brothers and Sisters who are interested in visiting, investing in buying and renting, please contact City Apartment – 0909660567 for detailed advice.

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