Out of land, Hanoi people will have to go to Hung Yen to buy houses

(CLO) According to One Mount's report, in the 2025-2026 period, Van Giang - Hung Yen will provide about one-third of the apartments for Hanoi and neighboring areas.

According to One Mount Center for Market Research and Customer Insight, the total number of primary apartment transactions in Hanoi and Van Giang ( Hung Yen ) in 2024 recorded about 33,800 units, more than 3 times higher than in 2023. Particularly in the East of Hanoi (including Gia Lam, Long Bien), the number of transactions was 12,800 transactions, accounting for 38% of the entire Hanoi market.

In terms of supply in the Eastern market, in 2024 Gia Lam district will have 11,000 units, accounting for 85% in the most developed area of ​​Hanoi. However, the amount of products will decrease sharply in 2025 and it is expected that there will be no more supply in 2026.

Van Giang will become the center of the apartment market in Hanoi and Hung Yen in the period of 2025 - 2026. (Photo: VH)

In Long Bien, supply in 2024 is still limited with more than 600 units, expected to increase to 2,800 units in 2025 as some investors have completed legal procedures and are starting construction. However, this number is expected to decrease by nearly half by 2026.

Notably, in 2024, the supply in Van Giang (Hung Yen) was 2,200 units, expected to triple in 2025 and reach more than 11,000 units in 2026.

Mr. Tran Minh Tien, One Mount Center for Market Research and Customer Understanding, commented: Van Giang becoming the center of the Hanoi and Hung Yen apartment market in the period of 2025 - 2026 is driven by 2 factors.

The first is the policy of population dispersion in the central area. As the land fund in the inner city is gradually depleted, the city has been implementing policies to limit the population in the central core area and redirect people to suburban areas such as Long Bien, Gia Lam and satellite areas such as Van Giang (Hung Yen).

According to the development planning of the Capital and Van Giang (Hung Yen), by 2030, the Eastern region is expected to have 1.05 million people, an increase of 39% compared to 2022. These population factors will create a great demand for housing and living facilities in the Eastern region in the coming time.

The second is the planning vision of the eastern districts of Hanoi and Hung Yen province. In the coming time, the completion of key traffic projects such as Ring Road 3.5, Ring Road 4, Me So Bridge, Hong Ha Bridge... will create a big push for the development of Van Giang. Shortened travel time and convenient traffic connections will attract a large number of residents and businesses to invest and live.

"Thanks to its advantages in location and traffic infrastructure, the Eastern area creates attraction, attracts many large investors and is forecast to lead the Hanoi real estate market in the long term," Mr. Tien emphasized.

Source: https://www.congluan.vn/van-giang--hung-yen-se-cung-cap-khoang-mot-phan-ba-luong-can-ho-cho-ha-noi-post330832.html