The real estate market in this area “rises up” with many impulses causing prices to “heat up”.
97% of transactions are land plots in residential areas
Phu Yen Department of Construction has just announced information about housing and real estate market in the province in the first quarter of 2022.
This province said that, in recent years, although the supply of real estate in Phu Yen province is quite large (including commercial housing projects in urban areas and land plot projects), due to the impact of Covid-19 19, the real estate market of Phu Yen is quite quiet, the auction of land use rights has not been active, thus significantly affecting the province’s budget revenue from land use fees.
In the quarter, 52 adjacent plots of land were successfully auctioned in the East Residential Area of Hung Vuong Street, with a starting price of VND 202.5 billion, the total selling price exceeding the starting price of VND 55.3 billion. , an increase of 2.31% of the total starting price.
The number of real estate transactions for sale through notarization and certification in the province in the first quarter of 2022 is 648 transactions, including land transactions in residential areas (627 transactions), individual house transactions. (20 transactions) and apartment transactions (1 transaction).
Regarding real estate projects, the locality currently has 10 housing projects under construction (one social housing and 9 commercial houses), 4 housing projects are completing procedures to start construction. (have had an investor and are completing investment preparation procedures), 9 housing projects are completing procedures for investor selection.
Phu Yen has advantages in transport infrastructure (adjacent to major economic zones Nhon Hoi, Van Phong economic zone) and the land price is currently lower than the market in Khanh Hoa or Binh Dinh provinces.
Land prices are still low compared to neighboring areas
According to the survey, since entering the “new normal” period, housing prices in Phu Yen have not stopped increasing. For example, the price of land located on the Quy Nhon – Tuy Hoa tourist route in Song Cau increased from 20-22 million VND/m2 to 23-25 million VND/m2. Or at some Tuy Hoa sea routes, the price of land in front of business increased from 75-90 million VND/m2 to 85-100 million VND/m2.
Phu Yen is also a market that has witnessed the arrival of a series of high-end real estate projects in recent times such as Regal Maison Phu Yen, Lynn Times Phu Yen, Kallias Complex City… Recently, Phu Yen has still received a strong wave of real estate investment with large-scale projects.
However, compared to neighboring provinces, housing prices of coastal roads in Phu Yen are still lower. Specifically, Da Nang and Nha Trang are two areas of comprehensive development of infrastructure and tourism; Therefore, the land price here is up to 300-400 million VND/m2; The coastal roads of Xuan Dieu and Quy Nhon also fluctuate from 250-350 million VND/m2…
Phu Yen is a locality that possesses many advantages from natural resources to develop tourism, in recent years the infrastructure has been invested and planned in a methodical manner. Accordingly, the real estate market of the land of “yellow flowers on green grass” promises to have further breakthroughs in the future.
Many impulses create upward momentum in the near future
As part of the project to promote regional connectivity, Phu Yen will prioritize investment in key infrastructure construction and upgrading projects in the 2021-2025 period. That is, upgrading Tuy Hoa airport to a capacity of 5 million passengers/year, invest in the North-South expressway through Phu Yen, Tuy Hoa railway to the Central Highlands.
In addition, the province will expand Highway 25 to the Central Highlands, upgrade Vung Ro port to 2.5 million tons/year, build a coastal traffic project to Bai Goc port connecting with National Highway 1 to the economic zone. Van Phong economic zone, building an expressway connecting Phu Yen with the Central Highlands.
Most recently, in February 2022, the Ministry of Transport worked with the People’s Committee of Phu Yen province on coordinating the implementation of the Chi Thanh – Van Phong expressway construction project. This highway has a length of 51km with a total investment of more than 10,600 billion VND, connecting Quy Nhon – Chi Thanh expressway to Deo Ca road tunnel and passing Tuy Hoa city and a number of other districts and communes. The project will create a diversified regional network, paving the way for investors to come to Phu Yen easily.
Not only that, Phu Yen is also known as the new tourism capital of Vietnam with a series of destinations, monuments, natural landscapes that are peaceful, poetic and surprisingly beautiful. According to statistics in February 2022, Phu Yen welcomed 89,000 visitors, an increase of 98% over the same period. This is the basis for the province’s tourism industry to set a target of attracting 2 million tourists in the year and strive to make tourism a spearhead economic sector in 2030.
It is considered that there is still a lot of room for growth and these promising impulses make the real estate market of Phu Yen more exciting than ever. This area will continue to be a bright spot to attract investors looking for quality products with good potential for price appreciation, such as the Regal Maison Phu Yen project.
In addition, in the first quarter of 2022, a number of investors who are large real estate corporations have proposed implementing large-scale projects in the province. “All of these forecast that the real estate market of Phu Yen province will prosper in the near future,” the Department of Construction assessed.
at Blogtuan.info – Source: cafebiz.vn – Read the original article here