Many urban areas are deserted and deserted in Thu Duc City.

Billion-dollar townhouses without residents

Dong Tang Long Urban Area Project, Truong Thanh Ward, Thu Duc City is located next to Nguyen Duy Trinh Street, about 20km from the center of Ho Chi Minh City, and started construction in 2005.

Many rows of townhouses in the project are deserted even though they were completed and put into use many years ago.

This urban area is introduced to be located near Ho Chi Minh City - Long Thanh - Dau Giay highway, Ring Road 2, next to the planned Ring Road 3 and many other convenient regional connections.

The project is planned to have a scale of nearly 160 hectares with many subdivisions with different functions such as: complex apartments, condominiums, commercial centers, schools, hospitals, entertainment, sports ... expected to be a modern urban area in the Eastern region of Ho Chi Minh City.

A series of townhouses in the project have signs for sale or rent.

Currently, some townhouse and villa subdivisions have been completed and handed over to customers. The project is priced at 65-70 million VND/m2 for land and fluctuates from 8-18 billion VND or more for townhouses, 20-40 billion VND/villa depending on location and area.

According to the reporter of Nguoi Dua Tin , dozens of townhouses with signs for sale or rent have appeared at the entrance of the project, but so far no one has moved in. Some subdivisions are still in the rough construction stage or are left empty with overgrown grass.

The project is planned to have a scale of nearly 160 hectares with many subdivisions.

Many villas located in the center of the urban area, only a few of which have been occupied, most of the remaining ones are abandoned. Many items are degraded, with no one to look after them.

Customers mainly invest for profit

Mr. Nguyen Van Chung, a real estate broker, said that most of the luxury villas and townhouses are owned by investors, who usually own 2-3 units. Therefore, when the real estate market goes through a recession, transactions become difficult, and these houses are often left empty.

Some works under construction in Dong Tang Long project.

An Phu New City project in An Phu ward, Thu Duc city also has a similar situation, weeds growing all over the gate and few people living there.

An Phu New City project is a complex of townhouses and apartments right on the frontage of Vu Tong Phan and Nguyen Hoang streets, An Phu ward, Thu Duc city. The project has a total area of ​​4.8 hectares and is a component project in the planning of An Phu urban area, with a scale of 87 hectares in An Phu ward, Thu Duc city. Including a low-rise area with only 134 townhouses and a high-rise area with 8 luxury apartment towers right in the center of Thu Duc city.

An Phu New City project is a complex of townhouses and apartments right on the frontage of Vu Tong Phan and Nguyen Hoang streets, An Phu ward, Thu Duc city.

Designed in a modern style, the project meets all the needs of the most demanding customers. An Phu New City inherits the entire available and diverse utility system to serve the community such as: shopping mall, supermarket, international hospital system, international school system, golf course, tennis court, 7ha park.

In addition, the project is located between the two most important roads of Thu Duc City, Hanoi Highway and Mai Chi Tho Street, with a series of key projects of the whole Ho Chi Minh City.

On these two routes such as Ho Chi Minh City - Long Thanh - Dau Giay Expressway, An Phu intersection, Metro line 2 on Mai Chi Tho street or Metro line 1 which is 80% completed on Hanoi Highway,...

Dozens of townhouses in the project are overgrown with grass because no one lives there.

According to the reporter, the townhouses and villas in the project were completed many years ago but have not been inhabited yet. Many areas in the project have been abandoned and overgrown with weeds for a long time because there were no buyers. The investor had to put up signs for rent.

Currently, some townhouses and villas in the project have been completed and handed over. The project is priced from 30-40 billion VND/townhouse, villa depending on location and area.

In a similar situation, the townhouses worth tens of billions of VND each in the Cat Lai Urban Area project, Thu Duc City, are also deserted despite being handed over to customers since 2017.

The row of townhouses in Cat Lai urban area, although completed and handed over since 2017, is still occupied by very few people.

Cat Lai urban area with a total area of ​​over 152 hectares has a scale of nearly 11,000 apartments and low-rise houses, with a population of up to 50,000 people. The houses have been handed over for a long time, but this place has not yet attracted people due to the lack of many amenities.

In fact, currently, some projects in Cat Lai Urban Area have been handed over to customers with a fairly high occupancy rate. However, there are also many products that have been completed for many years but so far very few people have moved in. Especially low-rise townhouses.

Inside an uninhabited townhouse filled with trash.

Some of the houses have signs for rent, while others have been vacant for many years, so some items are damaged and overgrown with weeds. It is known that the rental price for each villa and townhouse in this project is about 20 - 25 million VND/month. Meanwhile, the selling price for each townhouse with an area of ​​6x22, built with one ground floor and one upper floor is about 13 billion VND.

Compared to the general level of Thu Duc City, real estate prices in Cat Lai urban area are much "softer". Specifically, the price of secondary apartments here is still around 30 million VND/m2.

A townhouse with a facade in the project has had a "for rent" sign hanging for many months.

The reason the project has not attracted residents, Mr. Chung said, is because the traffic system connecting this area is still inadequate. Dong Van Cong Street - the main route to Cat Lai port is always busy with vehicles, especially containers, causing traffic jams and accidents to occur frequently.

Meanwhile, projects to help with clearance such as Cat Lai bridge, My Thuy roundabout, and internal roads are behind schedule, or it is unknown when they will be implemented.

In addition, Mr. Chung said that these are mainly products for future investment purposes or for transfer for profit rather than for residential needs. "Townhouses are one of the most popular products because they are suitable for investment psychology, generate high profits and are scarce in quantity."

On the other hand, the situation of many projects being deserted is also because some areas are located far from the center, the connecting infrastructure and service utilities do not meet the needs of life, so even if you want to, it is still difficult to settle down at this time.

Source: https://www.nguoiduatin.vn/nhieu-khu-do-thi-quanh-hiu-vang-bong-nguoi-o-tpthu-duc-a639610.html