“Eating” according to planning information, the price of land in the coastal areas in 2 years has increased sharply
This is information Mr. Vu Cuong Quyet, Real Estate Expert, General Director of Dat Xanh Mien Bac gave. He said that real estate is far from the city center. In the past two years, Hanoi has grown strongly, the growth rate is better than the center of Hanoi. This is a very “interesting” phenomenon in the real estate market.
Pham Anh Khoi, Chief Economist and Director of the Dat Xanh Services Market Research Institute, said that in early 2022, land prices in coastal areas tend to approach land prices in the central area after planning information is released. announced.
Land prices in many suburbs of Hanoi increased by 10-20% compared to the beginning of 2021. Land prices in Dong Anh district in Xuan Canh, Uy No, Dong Hoi, Vinh Ngoc communes set a price level of 40-150 million. VND/m2.
Prices of apartments and townhouses in the provinces around Hanoi tend to increase slightly, from 2-5% compared to the previous quarter. The average cumulative absorption rate of the market is in the positive range of over 70%, with most of the projects being traded that have been launched for sale in previous years. The price of land plots increased by 10-20% compared to the first quarter of 2021, in some places with large road surfaces with beautiful locations increased by 30-40%. Land prices in provinces such as Bac Ninh and Bac Giang also increased by 20-30% compared to the same period in 2021.
Mr. Vu Cuong Quyet – General Director of Dat Xanh Mien Bac.
According to Mr. Quyet, real estate in the periphery of the industrial zone has had a rapid increase in price due to the strong FDI inflows into industrial real estate in this area. Especially, in the past two years, the wave of FDI investment in northern cities has increased sharply. This comes from the trade war, Covid-19 and the effective policy of attracting capital thanks to many incentives proposed by the Government.
“When FDI develops, industrial parks, the number of people flocking to industrial parks in the periphery is very large. Like Samsung or Foxcom needing an extremely large number of workers, it will attract a workforce from all over the world. At the same time, it will develop in residential demand, commercial demand, real estate investment demand, etc. Besides, over the past time, the North has extremely good infrastructure connection, continuous highways. develop. Those factors create an increase in the price of real estate in the suburbs, “said Quyet.
The expert said that the price of real estate in the periphery is quite reasonable compared to the current demand and living standards, despite the rapid and strong price increase in the past time.
Currently, real estate prices in the suburbs are quite reasonable despite the rapid and strong price increase over the past time.
Mr. Quyet also said that the real estate model developed in the past 2 years – second home resort real estate also developed strongly. For example, Quang Ninh, Hoa Binh, Moc Chau, Lai Chau have strong price growth rates. This is also related to infrastructure development, instead of going far, now it only takes 1 hour to own resort real estate.
In particular, the price of resort real estate 1-2 hours from Hanoi by car is quite cheap. Although in the past 2 years, the price has increased 2-4 times, but looking back before, the price was only within 5-7 million VND/m2, compared to Hanoi land is too cheap, compared to Da Nang and Nha Trang land is also too cheap.
“Last year, the wave increased to VND 12-13 million/m2, this year the wave increased to VND 20-25 million/m2, but with city connections and the need to own a second vacation home, the price still reasonable, not too expensive”, Mr. Quyet shared.
Commenting on the price of real estate in the North in the near future, Mr. Quyet said: “Currently, the price of real estate in the North is quite reasonable. However, the following 4 factors will affect the supply and price of real estate in the future. Firstly, the supply in 2022 will be limited. If comparing the supply between the North and the South in the past 4 years, the supply in the North is quite stable, the supply in the South is limited. However, in 2022, it is estimated that the supply will also be limited due to the increasingly complete legal procedures to do a project that requires more procedures.
Second, the auction work in the past time has been unstable, the State has issued policies to correct it, which will create a proper step, but at the same time it will take time to create a supply. Third, the assessment of land tax and fourth, cost inflation, rising material prices affect supply, real estate prices.
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