The bustling eastern part of the capital, investors flock to the suburbs to "hunt" for land

The bustling eastern part of the capital, investors flock to the suburbs to "hunt" for land

The real estate market in the east of Hanoi is attracting investors' attention thanks to its long-term development potential, especially in satellite cities - where land fever has not yet occurred.

Vibrant market, rich in potential

As a leading growth pole in Hanoi, the Eastern area has attracted the arrival of a series of large and prestigious investors such as Vingroup, Ecopark, Masterise, T&T, BRG Group, Eurowindow ..., with "mega-projects" of the largest scale and unique planning in the North, which have been making waves in the market. These projects not only change the appearance of the Eastern urban space, promote economic development but also cause land prices in the area to increase significantly.

The real estate market in the East of Hanoi is bustling thanks to the presence of many "big guys".

According to a survey, in the period of 2020 - 2022, the selling price of low-rise products in projects recorded a common growth rate of 100 - 150%, even 3 - 4 times higher than the first days of opening for sale.

Residential land prices in Long Bien fluctuate at 40 - 50 million VND/m2, locations near Tran Hung Dao Bridge (about to be implemented) reach 240 million VND/m2, Co Linh area is approximately 210 million VND/m2. In Gia Lam district, main roads near the center have an average price of 40 - 90 million VND/m2, especially Ngo Xuan Quang street has reached 230 million VND/m2...

The reason for the excitement of the Eastern market first comes from the planning vision of the Capital Region according to Resolution 06-NQ/TW, expanding close ties with 9 neighboring provinces and cities, in which the East is adjacent to many provinces that are industrial capitals of the North such as Hung Yen, Bac Ninh, Hai Duong , Hai Phong...

Many experts believe that the East is the future of Hanoi, the Northern economic triangle including Hanoi - Hai Phong - Quang Ninh has officially formed, especially with the connection of the Hanoi - Hai Phong highway, Hai Phong - Cau Gie highway... Economic development must be directed towards the sea, so urban development to the East will take advantage of this connection.

In particular, a series of key national projects in this area have been and are being implemented such as Vinh Tuy bridge phase 1 (3,600 billion VND), Dong Tru bridge (6,600 billion VND), Hanoi - Hai Phong expressway (45,000 billion VND), Co Linh intersection (400 billion VND), Vinh Tuy bridge phase 2 (2,500 billion VND), Tran Hung Dao bridge (expected investment of nearly 8,700 billion VND)...

In the development plan, there will be 10 bridges across the Red River and the Ring Road 4 - Capital Region connecting with the Eastern area of ​​the Capital, creating a boost for trade and economic activities, and a lever for real estate to break through.

Investors flock to the suburbs to "hunt" for land

In the context of land prices in the eastern districts of Hanoi being at a high level compared to the general level, investors tend to move to neighboring provinces and cities to seek room for price increases. Among them, the districts bordering Hanoi in Hung Yen are an ideal destination thanks to their prime location and economic development.

Mr. Nguyen Cuong (Gia Lam, Hanoi) shared: “According to the oil spill principle, the “fever” in the eastern districts of Hanoi will inevitably spread to the suburbs. While real estate prices in Hanoi tend to “peak”, with little room for growth, opportunities will open up in neighboring areas. Among them, Hung Yen is the neighboring province with the most potential.”

The current Hung Yen market records a rather scarce supply of new projects, especially completed urban areas with central locations, full legal documents, and long-term ownership certificates. Notably, the Economy City project of the investor Hoang Vuong Hung Yen Joint Stock Company, is a high-end urban project with many advantages and bright potential.

Accordingly, Economy City is a rare remaining location in the core area of ​​Nhu Quynh town, Van Lam district, only 20 minutes drive from Hanoi. The project is surrounded by a wealthy residential area, high economic life, adjacent to important administrative agencies of Van Lam district, ensuring a vibrant life with bustling cultural and entertainment activities all year round.

While in Long Bien, Gia Lam, the price of land in good locations has reached 240 million/m2, in the core area of ​​Van Lam, which is adjacent to and considered a satellite city of the Capital, the price of land is still at a very good and reasonable level, with room for long-term growth.

Economy City urban area is planned synchronously and is the most classy in the region.

Economy City is a pioneer in planning to become a model urban area in Van Lam with a scale of more than 36 hectares, including 4 economic zones, bustling trade day and night. Highlights include the night economic street, light square, walking street with a chain of diverse and classy utilities, promising to bring residents a trendy lifestyle. The investor said that the products in the project are all legal, possess long-term red books, the entire project has fully completed tax obligations according to regulations.

According to the principle of first location - second legality - third value, especially in the context of the current scarcity of quality project supply, Economy City is a wise choice for both investors and real customers, because of the values ​​that exist right now and will certainly increase in the future.

Source: https://baodautu.vn/batdongsan/khu-dong-thu-do-soi-dong-nha-dau-dau-do-ve-vung-ven-san-dat-d225184.html