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Phan Thiet: Expanded Nguyen Thong Street, Land Price Increase

Nguyen Thong Street

Completion of upgrading and expanding Phan Thiet’s unique route to “Resort Vietnam” and Phan Thiet Airport (upgraded to 4E) have created a new look for Phan Thiet. At the same time, promoting the value of real estate revolving around the axis of Nguyen Thong increase dramatically according to the development of infrastructure.

Expanding roads, developing tourism

Nguyen Thong street is the main road connecting Phan Thiet city with Phu Hai – Ham Tien – Mui Ne and Phan Thiet airport. As planned, Phan Thiet Airport will be upgraded to International Airline (4E), which is expected to be operational during 2018-2019. The formation of Phan Thiet airport is a strategy to attract tourism, services of Binh Thuan province. Therefore, in order to meet the development of tourism in the coming time, the upgrading and expansion of Nguyen Thong Street will be the solution to the traffic congestion, contributing to the development of Phan Thiet tourism.

Nguyen Thong Street expand
Nguyen Thong upgrade to expand up to 25 m contribute to Phan Thiet tourism development

By the end of 2016, the People’s Committee of Binh Thuan province has invested 300 billion VND to upgrade and expand Nguyen Thong Road, making the transportation of this area convenient and easy. In particular, the section from Hung Vuong bridge to Phu Hai bridge toll station has a width of 21 m, from the Phu Hai bridge to the beach resort project Queen Pearl Mui Ne Vo Nguyen Giap) has a width of 25 m. The entire line is divided into four lanes, with a median strip and a safety margin in the middle of 1 meter wide. The sidewalks are paved 3 m wide on each side, together with the drainage system, standard lighting system. Especially, this project also renovates and enlarges the Phu Hai Bridge, 131 m long with a span of 12 m.

Economic experts said that the upgraded Nguyen Thong along with commercial and tourist areas, stops, shops and introduces seafood specialties of Phan Thiet are beautifully planned will create Phan Thiet – Mui Ne tourist attraction is more attractive, the number of tourists to Ham Tien – Mui Ne will grow stronger. Along with the excitement of the market, the price of Nguyen Thong and adjacent areas continuously recorded the increase in value.

Land “escalation”

Developed by Nha Trang, Da Nang, Ha Long but Mui Ne is the only place associated with the brand “Capital Resort Vietnam”. At the coastal resorts, motels, hotels, motels also mushroom. Along with that, the coastal land fund Mui Ne is gradually limited and becomes expensive.

According to statistics, if in 2004, the price of the land surface is only from 400,000 to 700,000 sqm, by 2017, this number has increased 24 times, an average of about 12-16 million m2. At present, the price of land in Phan Thiet City is VND 18-35 million / sqm, Nguyen Dinh Chieu Street is VND 14-23 million / sqm.

Nguyen Thong Street expand
Queen Pearl Mui Ne is one of the projects located on Nguyen Thong Street has a good rate of increase in recent years

Especially from Nguyen Thi Nhan, from 2016 to now, the price has risen remarkably. Specifically, in 2016, the price of land here is only from VND9-14 million / sqm, now it is priced from VND12-17 million / sqm. One of the projects that recorded high profitability in this area is the Queen Pearl Mui Ne project located at the end of Nguyen Thong Street.

***Update on new information on the real estate investment in Vietnam here: Vietnam real estate investment

According to information from the marketing and exclusive distributor of the project, DKRA Vietnam, Queen Pearl Mui Ne opened the first phase in June 2016, so far the products have increased from 25 % -40%. Up to now, the Queen Pearl Mui Ne has successfully sold nearly 1,300 townhouses and villas overlooking the sea. In this December, the company will continue to introduce the Ocean View townhouses located in the most beautiful project with the price of only VND868 million / product, have a permanent red book, payment for 15 months. This is the final product of this project.

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