2 growth rates of Binh Thuan real estate

The story of the promotion of the Phu Quoc real estate market

Before 2013, Phu Quoc was an island with only forests, pepper fields, and myrtle forests. The land price here was very cheap, only a few hundred million per hectare. After Phu Quoc International Airport went into operation (December 2012), tourists flocked to the “pearl island” increased dramatically.

According to statistics from 2013 – 2019, each year visitors to Phu Quoc increased by an average of 35%, the highest rate in the country. The period 2014 – 2018 is considered the golden cycle of real estate when big brands such as Vingroup, Sun Group, MIK Group, BIM Land… all participate. At that time, Phu Quoc constantly had land fever with the price increasing by tens of times compared to the initial period.

Undeniably, bustling cities do not sleep, endless entertainment complexes, etc., when officially operated, have turned the “pearl island” from a poor wasteland into a familiar destination of tourists. International travelers.

Now, when Phu Quoc has entered a stable orbit, the balance of investment is looking to new lands with strong growth potential, but Binh Thuan is the next destination because it is receiving 2 big waves of real estate. closely associated with infrastructure developments. At the same time, compared to veteran markets, Binh Thuan real estate is still low, only 1/2, even 1/5 of Phu Quoc, Nha Trang or Da Nang. In which Ke Ga is hunted due to the best price in the province and is a tourist destination adjacent to Ho Chi Minh City and Long Thanh airport than the rest.

Period 2022 – 2023: Consolidate position on the domestic tourism map

At the end of this year, Phan Thiet airport is expected to come into operation. Dubbed the “resort capital”, developing tourism very early, but for many years, Binh Thuan has not been able to surpass the traditional market due to limitations due to the absence of an airport, causing this place to lose a large number of tourists from many countries around the world. northern regions. Therefore, Phan Thiet airport is considered a strong growth engine of tourism, adding tens of millions of domestic tourists every year.

Also this year, the Dau Giay – Phan Thiet highway will be open to traffic, shortening the travel time from Ho Chi Minh City to Ke Ga to 2 hours. Thus, adjacent destinations such as Ke Ga will replace the current Vung Tau to become the most frequent weekend destination of people in Ho Chi Minh City in particular and the Southeast region in general.

Not stopping there, Binh Thuan has also started construction of the national coastal road DT.719, the section of Ke Ga to La Gi with a length of 32.5 km, expected to be completed in April 2023. From here, it can be seen that 2022-2023 is the period for Binh Thuan to consolidate and take the leading position of the domestic tourism industry when Phan Thiet airport helps to add a sudden increase in the number of tourists in the North – the highway optimizes tourism. visitors from the Southeast. According to the rules of the market, real estate prices will increase sharply one beat before the infrastructure is completed and increase stably when the project has proven effective in operation.

Binh Thuan has good conditions for tourism development

Period 2024 – 2025: Rank up to reach the international level

Long Thanh International Airport is forecasted to be the second wave of Binh Thuan market in the period 2024-2025, when it is only 1 hour away from Ke Ga, Binh Thuan. This is the largest airport in the country, and is the aviation hub to receive all flights from countries around the world when coming to Vietnam. Therefore, tourists from all over the world can go directly to Binh Thuan without connecting flights, with flexible flight schedules.

Resonating with the completion of domestic transport routes from the past and the available advantages of Binh Thuan tourism, it is not difficult to imagine that this place after having enough infrastructure, Nha Trang and Da Nang will no longer be a tourist destination. “competitor”.

However, infrastructure alone will not be enough for Binh Thuan to reach the international level. High-class, well-invested, large-scale resort complexes with unique directions and the operation of famous global units will be the driving force to make Binh Thuan become a global destination at the moment. completed infrastructure. Typically, the project of a super complex of resorts – entertainment – sports at Thanh Long Bay should be mentioned.

Urban resort – entertainment – sea sports Thanh Long Bay. Project perspective photo

This is a pioneer project in Vietnam following the international marine sport model – in line with the tourism orientation of Binh Thuan. Possessing a population of up to 90 hectares with 12 subdivisions, 1,000 utilities, nearly 2km of coastline in a colorful “all-in-one” ecosystem, the Thanh Long Bay project plays a role together with Binh Thuan. Maximize tourism advantages, reach out to the world.

It is not difficult to explain that during this period, investors eagerly moved to the Thanh Long Bay project to “avoid the storm” of inflation and welcome both strong growth cycles.

According to Nam Group, now phase 1 of the complex is gradually appearing with the completion of Hola Beach, ready to welcome guests on April 30. Previously, the beach square, Ngan Ha bridge, and Moonlight roundabout were also put into operation and became a popular check-in point for tourist followers. It is expected that in 2023 many items will be handed over to the owner for operation, service business and accommodation – coinciding with the time when Binh Thuan tourism booms with domestic tourists.

Hola Beach is expected to come into operation at the end of April this year. Photo: Nam Group

In the period 2024-2025 according to the roadmap of developer Nam Group, Thanh Long Bay complex continues to accelerate progress, perfecting the largest ecosystem in the region to be ready to welcome international visitors, creating a stable growth in both medium and long term.

Tan Tai