VietNamNet Bridge – The eastern area of HCM City is expected to become one of the most bustling economic and financial centers in Vietnam in the near future.

Ten years ago, while the real estate market in Saigon South boomed with a series of huge projects, the eastern area was still quiet. Even when it came to the eastern area of the city, most people only knew the Saigon Bridge and several villa projects, mainly for foreigners.

However, in the past five years, the strategic change in transportation infrastructure has turned the eastern region of Saigon into a hot spot for real estate investors with a series of super projects.

Specifically, up to 11 transport infrastructure projects are being implemented, with the total investment of more than $10 billion, including the highway HCM City - Long Thanh - Dau Giay, the subway route No. 1, Thu Thiem Bridge, the belt road 2 and belt road 3, the high-tech park .... The east region is now in the shape of a modern urban area.

Being sensitive to the times, real estate giants like Vingroup, Thao Dien Investments, Keppel Land, and others have quickly set their feet in East Saigon with super projects worth billions USD such as Vinhomes Central Park, Mega Village, Villa Park, Vista Verde, Riverscape South, and Pho Dong Village.

The price for land in this region has been rising since the second half of 2014. CBRE's research shows that the prices of real estate in East Saigon rose by 3-5% in the first quarter 2015.

It is forecast that the price for high-end real estate projects in East Saigon, especially those next to the subway route No. 1 area, as will increase further in the coming time.

Marc Townsend, Managing Director of CBRE Vietnam, said once the subway No. 1 becomes operational, the price for land within the area of 10 minutes of walking from the subway station can increase up to 20%.

"This has been proven in a number of countries, with prices for houses in the proximity of public transportation systems having a higher value, from 6-45%," said Marc.

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