The construction of 4 bridges across the Red River and the Duong River is the policy of Hanoi, but there is a lot of “land fever” in the areas where bridges cross. In fact, many people run aground because of the land fever caused by the construction of Nhat Tan Bridge, and it is also a lesson for customers to rush down to money when they believe in “land fever” because of demand.
According to the reporter, Hanoi has just proposed to build four bridge projects across the Red River, Duong River and the implementation of the second phase of Vinh Tuy bridge construction. Specifically, these four bridges include Tu Lien Bridge, Tran Hung Dao Bridge, Cau Duong 2 Bridge and Vinh Tuy Bridge Phase 2.
After this information has been transmitted has become the focus of the real estate market. Predictions that the real estate market in Long Bien area is likely to become hot after four bridges are built brokers investors.
In fact, the real estate market in Long Bien area has not had any land fever for many years, even there are big investors in the field of real estate construction on the project. Even a project of dozens of hectares deserted despite the construction of infrastructure, apartments, villas, and townhouses. Many cheap projects sold all year long.
Ms. Bich Thuy, a resident of Thach Ban (Long Bien, Hanoi) said, do not know where the land fever but I here dozens of years but land in this area has never been hot.
Mr. Tri Dung, director of the Land Transaction Office in Dong Anh, said several years ago that the construction of Nhat Tan Bridge would create a land fever in Dong Anh… However, the bridge was finished long but the land price has not been up so many people bitter to swallow.
“Land prices have also increased slightly at 3-5% over a period of time rather than spike as some speculative information, but people need to calculate carefully when spending large amounts of money that long time We have a little profit, “Dung suggested.
According to the survey, the current land price in Uy No and Hai Boi (near Nhat Tan Bridge) in Dong Anh district fluctuates around $869/sqm. Particularly in the town of Dong Anh has beautiful land lots, wide roads and can be combined business is up to $1,304 – $1,739.
Meanwhile, the price of land in Ngoc Thuy ward, Thuong Thanh (near Dong Tru bridge) of Long Bien district fluctuated at around $1,304/sqm. The land located near the banks of the Duong River such as Gia Thuong, Giang Bien, Tinh Quang, Quan Tinh … alongside the Giang Bien bridge is about to be built at a price of $782 – $869/sqm, where the height is over $1521/sqm. However, the records of successful transactions in these areas are very few.
At CBRE’s 3 rd / 17th CBRE press conference held in Hanoi, Ms.Nguyen Hoai An, Director of CBRE Hanoi Research, Consulting, Asset Pricing and Asset Management, Newly connected between two river banks, Long Bien district, which is located very close to the center of Hanoi, is very likely to become a new residential area, there is a basis for Long Bien to have better quality projects, better facilities.
“Although Eastern real estate is very potential, no one can predict for a specific period of time how real estate prices in this area will increase, but if you look at the statistics in the past can know how much increase is reasonable, stable. For example, the market is stable, in a year, the price may increase from 3-5%, better it will be even higher. If the expectations increase by 10% to 15% in half a year or 1 year is very difficult”, Ms. An analysis.
Therefore, for those who have a policy of real estate investment in this area, Ms. An said that caution should be careful. If luck is okay but unfortunately many risks can occur. “With investors, the faster the time, the better the profit, but the higher the risk, especially the opportunities for investment benefits from the market is not always available to everyone”, Ms. An said.
Commenting on the impact of the above-mentioned bridge projects, Nguyen Bich Trang, director of a real estate consultancy unit in Hanoi, said: The real estate market has developed or is not influenced by government policies. For example, in the past, when the Government has promulgated policies to transfer many state agencies, offices, ministries, schools … to the suburbs, especially in the West. At that time the real estate was “fevered”.
Besides the policy, according to Ms. Trang, the attractiveness of the market segment also depends on the infrastructure and utility services for life (school, station, market …).
Therefore, “if the development of all three elements (policies, infrastructure, utilities), the real estate in the East of the city has the potential to develop as much as the West. For example, the construction of bridges over the Red River and the Red River, but the problem is when the project is actually completed, so the impact of these three factors on the real estate market, in fact, must wait time response “- Ms. Trang stressed.
You are reading the article “The Truth “Hot Land” With 4 Bridges To Be Built In Ha Noi” in the section “Real Estate News” on the website: realestatevietnam.com.vn
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