DNVN - Ms. Nguyen Thi Hong Van, Deputy Director of Valuation and Consulting Department, Savills Hanoi, commented that the advantages of the metro station have caused real estate prices in the surrounding area to increase by 5%-15% compared to the general price increase. The metro line will contribute to increasing the value of real estate along its route.
Hanoi already has two operational metro lines: Line 2A and Line 3. Line 2A, from Cat Linh Station to Yen Nghia Station, commenced operation in November 2021 with a total length of 13km. This metro line has 12 stations: Cat Linh, La Thanh, Thai Ha, Lang, Thuong Dinh, Ring Road 3, Phung Khoang, Van Quan, Ha Dong, La Khe, Van Khe, and Yen Nghia.
Route 2A operates at a frequency of 8 trains per hour in each direction, with a capacity of 960 passengers per train, an operating speed of 35 km/h, and a maximum speed of 80 km/h. In 2023, the average number of passengers using the route was approximately 29,600 per day.
Metro Line 3 (Phase 1) runs from Nhon Station to Hanoi Station, with an elevated section from Nhon to Cau Giay and vice versa. This metro line was put into operation in early August 2024, with a length of 8.5 km. The current metro line has the following stations: Nhon, Minh Khai, Phu Dien, Cau Dien, Le Duc Tho, National University, Chua Ha, and Cau Giay.
This metro line operates at a frequency of 8 trains per hour in each direction, carrying 920 passengers per train, with an operating speed of 35 km/h and a maximum speed of 80 km/h. During the opening phase (free of charge), approximately 60,000 passengers per day traveled on this line. It is expected that passenger numbers may decrease after this phase ends.
By 2030, Hanoi aims to complete 97 km of metro lines, including line 2A, the remaining parts of lines 3 and 5.
According to Ms. Nguyen Thi Hong Van, Deputy Director of the Valuation and Consulting Department at Savills Hanoi, people will increasingly use the metro system, especially after the 2024 Capital City Law was passed by the National Assembly , which aims to restrict private vehicles from entering the city center to reduce traffic congestion and emissions through the application of congestion charges.
Savills data shows that property prices around metro stations will benefit from better rates compared to other locations. In Singapore, people were willing to accept apartment prices within 400m of a Circle Line station that were about 15% higher than those outside that range when the line became operational in 2012.
In Kuala Lumpur, the average apartment price (2017-2018) within an 800m radius of train stations was 30% higher than the city-wide average. In Bangkok, property prices near metro lines increase by 7%-21% depending on the distance to the station.
In Ho Chi Minh City, apartment prices along metro lines have continuously increased since their launch, with an average increase of 35%-70% depending on location. In some cases, projects have doubled in value between 2015 and 2023. For example, Savills noted that Masteri Thao Dien apartments, located near the metro line connecting the city center to Thu Duc City, launched in late 2014, had prices ranging from 35-39 million VND/m2 in 2015, but by Q2 2024, secondary market prices had reached 69-75 million VND/m2.
“In Hanoi, the average price of apartments in Cau Giay district within a 500m radius of the Cau Giay - Nho Son metro station increased by over 40% in one year, from Q3 2023 to Q3 2024. We also checked the price increase data in areas further away from this metro line, and found that apartment prices in the market, due to a shortage of supply, also increased by an average of about 25%-35% depending on the location.”
"This shows that the advantages of the metro station have also contributed to a 5%-15% increase in surrounding real estate prices compared to the general price increase," Ms. Van said.
According to Savills Hanoi experts, the metro line will contribute to increasing the value of real estate along its route. More importantly, the metro system will significantly improve the social life of Hanoi residents.
Hoai Anh
Source: https://doanhnghiepvn.vn/kinh-te/bat-dong-san/ha-noi-bat-dong-san-tang-gia-nho-nha-ga-metro/20240927121204379
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