New signals from the real estate market in the South of the province

Heavily affected by administrative changes and general market impacts, the real estate market in the southern part of the province is showing signs of being "breathed in and given strength". Although there is not much liquidity, new signals from new projects, along with the renewed interest of some investors, are the basis for opening up positive prospects in the coming time.

Investment confidence cools after merger

Previously, when mentioning the southern area of ​​the province, especially Hoa Binh ward and the surrounding area of ​​Da river, many people thought that this would be the western "satellite" of the capital. However, since the merger of administrative units, the change in planning, the cautious mentality of investors and the decline of the national market have made this land quieter.

Hoa Binh Aqua Garden is recognized as a bright spot in the investment market in the southern part of the province.

Along many roads in the area, many houses and lots of land are continuously being offered for sale. Land prices, including in the old central area of ​​Hoa Binh, only fluctuate between 15 and 30 million VND/m2, among the lowest in the area, but the actual transaction volume is almost negligible. Mr. Nguyen Van Phuc, a real estate broker with more than 10 years of experience in the Hoa Binh area, shared: In the period of 2019 - 2021, many people bought land here because they expected that the completion of the Hoa Lac - Hoa Binh expressway would attract visitors from Hanoi . But when the market was quiet, combined with changes in administrative boundaries, speculators withdrew their capital, and buyers with real needs waited for prices to drop further...

The slowdown is not only due to economic factors but also due to the lack of motivation for urban development. While the North of the province has invested heavily in industry and services, the South still mainly has the appearance of a small urban area: Lack of mid-range projects, lack of commercial services, lack of modern living space. "We are not in a hurry to buy a house or land, because looking around, there are few places that are truly good to live in..." - Ms. Pham Thi Thu Hang, a teacher working in Hoa Binh ward, said - "What people need is not cheap prices but housing with infrastructure, environment and basic amenities. The market will only recover when real buyers return."

In general, the real estate market in the central area of ​​​​the two banks of the Da River in Hoa Binh Ward is still in a quiet period. The impact of the administrative unit merger, along with the decline in both speculative demand and real demand, has caused the transaction volume to be low. Although land prices in some areas are being offered at the lowest level in the province, liquidity is still thin due to cautious sentiment and weak purchasing power.

Cautious cash flow "chooses the right place to put your money"

Investors used to consider the South - the old Hoa Binh as a "strategic buffer zone" between the capital Hanoi and the Northwest. However, after a period of fever, most investors have chosen to stand aside and observe. The cash flow is no longer massive but has shifted cautiously.

Some urban areas with clear planning, such as Thong Nhat - Hoa Binh Aqua Garden Urban Area, are considered a "test step" of the market in the current difficult period. Although not a very large project, the completion of infrastructure, issuance of red books for each lot, and reasonable prices of about 19 million VND/m2 help create confidence for investors.

Recently, Hoa Binh Aqua Garden has been strongly promoted because of its advantages of synchronous infrastructure connection and convenient distance to Hanoi Capital. Joining in promoting and organizing product introduction events for Hoa Binh Aqua Garden are Hoa Binh Real Estate Joint Stock Company and a number of brokerage units inside and outside the province. The first sale with about 200 plots and adjacent houses has attracted the attention of investors, especially customers from Hanoi and neighboring localities, thanks to reasonable prices compared to the general level. According to Mr. Nguyen Bao Cuong - Chairman of the Board of Directors of Hoa Binh Real Estate Joint Stock Company, with any real estate project, before "putting down money", investors need to evaluate the overview and details to make the right decision. Notable criteria include: Planning, legality, investor capacity, infrastructure progress, utilities, traffic connection, product structure, sales policy...

In general, the appearance of Hoa Binh Aqua Garden adds a bright spot to the housing supply in the South of the province. However, expectations for sustainable liquidity still depend on the quality of implementation, the ability to complete utilities, and the general recovery of the local real estate market in the coming time. Mr. Tran Manh Hung, an investor from Hanoi, shared the reason for his interest in this area: "I do not expect quick profits but consider this a long-term opportunity. Compared to Hoa Lac or Xuan Mai, land prices in the South of Phu Tho are still low. When the Hoa Lac - Hoa Binh highway is expanded, the travel time to Hanoi will only be about 1 hour. That is a clear advantage."

According to experts, in reality, in the old Hoa Binh real estate market, real buyers are the foundation of a sustainable recovery cycle. Once they return, investment cash flow will follow, creating momentum for new projects.

On the positive side, the real estate market in the southern part of the province, although still in a “hibernation” phase, is showing signs of improvement after a period of stagnation. However, to maintain confidence, local authorities need to continue to improve infrastructure, publicize planning and provide legal support for implemented projects.

Hong Trung

Source: https://baophutho.vn/nhung-tin-hieu-moi-tu-thi-truong-bat-dong-san-phia-nbsp-nam-cua-tinh-241342.htm