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“Green” real estate becomes fashionable in HCM City   2010-08-17 - VnExpress

Houses overlooking scenic views, enclosed by rivers, ponds and green trees, far from the noise of modern life. Homes like these have become popular products on the real estate market, with million dollar prices.


The sea city of Nha Trang is famous for wonderful beaches and has been very successful in attracting buyers for luxury resort projects. Lam Dong province also lured people into Da Lat when it launched resort villa projects in pine forests.


Though HCM City does not have beaches like Nha Trang, nor the mountains, and cool climate of Da Lat, area real estate developers have decided to develop “green real estate.” Many want to take advantage of the city’s waterways and greenery along rivers to increase the attractiveness of their real estate projects.


The focus is “green apartments”, villas along rivers with “open architecture” that take full advantage of the natural space. Most are located far from the city center to avoid urban noise, but the homes are still connected to the city by a convenient transport system.


These apartments first appeared in Districts 2 and 7, and then spread to suburban areas. Real estate developers have forecast that properties that allow people to live in harmony with the environment will be a growing trend.


Fifteen years ago, southern HCM City witnessed the rise of Phu My Hung new urban area, which has since become a model for the city. With the healthy living environment, the site has attracted thousands, including expats.


Over the last few years, people have talked about the green project at Diamond Island. The apartments are capitalized at millions of dollars and have environment-friendly designs. Taking full advantage of land facing the river in three directions and a forest on the fourth side, the developer built a marina, created ponds and lakes and added plants and trees. A nine meter high artificial hill became a garden, while inner-region transport has been put underground.


According to Diamond’s developer, 60 percent of its products have been sold, including 40 percent of apartments worth 1-2 million dollars.


Vietnam Housing Company has poured money into The Boat Club Residence in District 9 with riverside apartments and villas. There will be parks, small canals, walking lanes, green trees, a marina and fountains.


Located 50 kilometres from the centre of HCM City, Saigon Sunbay will be surrounded by the sea and mangrove forests belonging to the biosphere reserve area recognized by UNESCO.


According to Khuong Van Muoi, Deputy Chair of Vietnam Architecture Association, green real estate is now a growing world trend and ecological real estate projects are fashionable.


Muoi remarked that it’s a good sign when real estate developers pay attention and develop green products in Vietnam. However, Muoi observed that Vietnam still does not have standards for ecological real estate.


Real estate developers believe that green real estate is a market segment with great potential, but they will only target high income earners.


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