Development of TOD Model In Ho Chi Minh City: Land Prices and Urban Space Around Metro Station No. 1

Abstract

The purpose of this research is to investigate and assess the effects of implementing the Transit-Oriented Development (TOD) model in urban planning focused on public transportation on land prices and projects in the vicinity of the TOD model in Ho Chi Minh City. The Transit-Oriented Development (TOD) strategy is exerting a substantial impact on land pricing. The real estate in nearby of Metro Station No. 1 experienced a 12% boost in value compared to the surrounding neighborhood. There is a significant proliferation of high-rise building construction projects in the Eastern region of Ho Chi Minh City. Implementing the TOD model not only brings about alterations in transportation infrastructure and social amenities, but also exerts a significant influence on the real estate market and investment prospects in the neighboring regions.

Key words: TOD (Transit-Oriented Development); Ho Chi Minh City; Urban, Real Estate