Real Estate In Son Tay Town Is “Sleepy”

Located in the satellite city planning in Hanoi and there are many projects are deployed so many people expect property in Son Tay town will be a fever day by day. However,…

One side is the afternoon market

In Son Tay town (Ha Noi), many real estate projects are being implemented or newly started including some noteworthy projects such as Phu Thinh new urban area ( scale of 49 hectares including 329 villas and 874 adjacent houses), Mai Trai – Nghia Phu urban area (over 23 hectares, population of about 4,000 people), Trung Hung urban area, Green City project, etc.

Walking around Phu Thinh Urban Area, the reporter noted that the villas and attached dwellings are built quite beautiful, and the internal transport system is also spacious. The urban area has residents to live in but there are still a lot of houses have completed the raw part and have been deserted. Construction materials are topsy-turvy, blocking the internal ways but no one seems to care.

Son Tay real estate

Many letter, adjacent to the Phu Thinh urban area is abandoned.

A resident said: “Buying to live is more reasonable than investing. Son Tay land is almost no increase so investment is not high efficiency. Only a few of houses having the beautiful location in the front of a street are at price increase but the increase is not much.”

He also said that due to the convenience of transportation so there are some home buyers are couples from the central coastal provinces. They usually buy the inside house at the cheaper price. There are both couples working in Hanoi and coming by bus.

When expressing the surprise at the deserted area of this urban area, a worker said that this had had many graves before that may have been the reason for many people’s apprehension.

On the other one is the kermis

In Mai Trai – Nghia Phu Urban Area of the Corporation for Housing and Urban Development (HUD), recently, the City People’s Committee in Hanoi has asked HUD to urge the implementation of the project. Specifically, they have to do some tasks such as well implementing compensation, doing land clearance of 1,5 hectares of the project, promoting the propagation and mobilization of people to hand over the land, preventing the disputes or complaints about land, accelerating the construction of infrastructure and nursery schools, schools and public works under the approved plans, and handing over to the People’s Committee of Son Tay town according to the regulations.

However, according to the reporters at the scene, the project is still quite dormant, the handover premises is not completed, and the nursery items and public works have not been done.

Son Tay real estate

The Mai Trai – Nghia Phu urban area has not been cleared yet, many areas are used by the people to grazing cattle.

This project “embraces” Mai Trai village in which half of Street 32 has been basically cleared while the other side of 105 Institute is still quite cluttered with many undulating lands. The idea is to let the households graze cows.

Unlike many other urban areas will create effects of increasing land prices for the neighborhood but the Phu Thinh Urban area and Mai Trai – Nghia Phu urban area does not create such an impact.

A villager in Mai Trai village said that land price in Mai Trai village was only about 12 – $616 /sqm (red book). It was much lower than the price of $1100 /sqm of the urban area.

According to the local people, although the clearance work has not been completed, trading activities in Mai Trai – Nghia Phu Urban area is quite exciting. There are many people ordered, even, some people buy all four consecutive blocks (60sqm/lot: 4m wide, 15m deep).

Son Tay real estate is showing the opposite beats. However, considering the potential of a satellite city of Hanoi, it seems that the ancient property is still sleeping and is waiting to be awakened by a real project of stature.

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