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Provincial Real Estate: A New Target Of The Giants

The urban land fund is shrinking, which is the real estate development opportunity of the province, and many of the giants have come here hoping to make a profit.

In the past, we rarely mentioned provincial real estate but only concentrated on big cities with typical economic development such as Hanoi, Ho Chi Minh City or famous tourist cities such as Nha Trang, Da Nang, Hoi An. But times have changed, although urban real estate is still very hot many giants have begun to shift to real estate investment in the province.

There are many projects with large capital investment

The main reason to mention is that provincial real estate is the urban land fund is shrinking, while in the province, the infrastructure is more and more complete. So, in the immediate future, the urban periphery will be a piece of cake that is targeted by investors.

Given the current situation of supply is smaller than the current demand, the investment in real estate projects in the province is considered as a new direction, attracting a lot of capital and also promised to bring a small profit to the investors.

Provincial real estate attracts investment
Provincial real estate is rising day by day

In 2017, we have witnessed a series of large and small real estate projects being brought to the province, such as BAOVIET Bank pledged to provide credit for the Kosy Lao Cai urban project of Kosy Group. This real estate investment company is currently implementing other projects in the northern provinces of Thai Nguyen, Lao Cai and Bac Giang.

Apart from Kosy, big companies like BIM Group, Vingroup, FLC, with a number of projects in Thanh Hoa, Kien Giang, Quang Ninh and Khanh Hoa are also bright spots in the provincial real estate market in 2017.

It can be seen that, although not targeted at the leading economic centers in the country anymore, the real estate projects in the province are located in areas with great potential and demand.

Provincial real estate attracts investment
Thanh Hoa has become a new target for many investors

The selling price of the provincial real estate is also positively escalating

Coupled with the warming of the provincial real estate is also the process of escalation of each day of housing prices here. Initially, the concentration of many big companies in the industry has initially made the market land sales are not “cheap” as old anymore.

You can read more information at Vietnam Real Estate Market

According to statistics, from 2016 to now, the land and coastal areas in the province have increased significantly. For example, in the project of Long Hung urban area, Bien Hoa city, the land price here has jumped from VND6  million- VND7 million / sqm to VND12 million / sqm in the first half of the year. The Richland City project in Dong Nai has also increased to VND600 million / unit, while the initial price was only VND416 million / unit. Terribly more than a number of provincial real estate projects in Long An also doubled the price after only 11 months open sale.

Provincial real estate attracts investment
The price of real estate in the province increased beyond control

In the North, some adjacent villas in Quang Ninh City even have a selling price of 3-4 billion dongs per unit, even 15-20 billion per unit is located in the center and large area. A Villa in Thanh Hoa is priced at VND7-10 billion per unit, the land area in Son Tra, Da Nang has increased from VND9 million-VND11 million /sqm to VND25 million-VND28 million /sqm in a short time. In Bac Ninh, the land adjacent to the industrial zone increased sharply from VND15 million /sqm to VND40 million / sqm.

Excessive price increases of provincial real estate are out of forecast and likely to form a housing bubble. Without timely control, we may face a crisis in the near future.

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