Southern real estate market: Needs "pushes" for sustainable development

Where the project waits for the "East wind"

One morning in early August, at Thong Nhat Urban Area - a project that had just opened for sale for the first time in Thong Nhat Ward, it was still quite quiet. From afar, a few groups of customers were walking with brokers, examining each location. The sound of concrete mixers from the completed building echoed out, like a small heartbeat in an urban area with many empty spaces.

Prices from 19 million VND/m2 and up, with red books in hand immediately, seem to be the "fire starter" to make the market lively. But in reality, the trading atmosphere is still cautious. A broker said: "Customers are interested but still hope that the routes connecting to Viet Tri and Hanoi will have clear moves, only then will they be willing to spend money."

In 2025, the whole country will prioritize promoting economic growth associated with macroeconomic stability. In that general picture, macro factors and infrastructure are important "leverages", creating momentum for the real estate market to break through. In the southern area of Phu Tho province (formerly Hoa Binh city), a number of projects have started and opened for sale, targeting both customers with real housing needs and secondary investors.

Southern real estate market: Needs

Some Hanoi investors are interested in learning about real estate at Thong Nhat Urban Area project (Thong Nhat ward).

The Thong Nhat Urban Area project with over 20 hectares is a typical example. Right from the first sale in July 2025, the investor completed the legal procedures and could issue red books for each unit. However, the townhouses and many plots of land have not yet received strong interest from buyers, although there are a few investors from Hanoi and other provinces coming to inquire. Meanwhile, the urban areas and old residential areas around the area are still in a state of stagnation.

According to Chairman of the Board of Directors of Hoa Binh Real Estate Company - Nguyen Ngoc Cuong, commented: "This market has great potential but to "awaken" it requires the resonance of three factors: infrastructure, policies and suitable products. Homebuyers today are more interested in living facilities, environment and connectivity, so projects that solve these factors will have a clear competitive advantage."

Post-merge connection problem

After the merger of the three provinces of Phu Tho, Vinh Phuc and Hoa Binh, one of the outstanding issues raised was the traffic connection between the regions. The three old localities had their own separate potentials, but in order to complement each other and exploit them synchronously, traffic infrastructure needed to be prioritized for strong investment.

The latest good news for the real estate market in the southern region of the province, on August 9, during his visit and working with the province, Prime Minister Pham Minh Chinh surveyed and listened to the proposal report of Phu Tho province on the construction of the Hoa Binh - Viet Tri expressway. The Prime Minister agreed in principle and assigned the Ministry of Construction to plan the route in the direction of the expressway, connecting with the Hoa Binh - Moc Chau expressway. Accordingly, if completed, the distance will be reduced to 54 km instead of nearly 100 km, travel time will be reduced by half, only about 1 hour.

According to many professional real estate investors in the southern part of the province, transport infrastructure is a key factor. When distances are shortened and travel speeds increase, real estate values will increase. This is the reason why the province is determined to speed up the progress of inter-regional connectivity projects.

At the same time, the Hoa Lac-Hoa Binh road project and the upgrade of National Highway 6, Xuan Mai-Hoa Binh section, are being implemented with attention. This is not only a transport infrastructure but also a “magnet” to attract investment in urban, industrial, commercial and service sectors, creating momentum for the whole region.

As land prices in Hanoi continue to rise, investors are beginning to “shift” to satellite markets with long-term growth potential. The southern communes and wards, more than an hour’s drive from Hanoi, have become attractive destinations.

Ms. Le Mai Anh, representative of a real estate trading floor in Hoa Binh ward, commented: “Land prices in this area are still at a reasonable level compared to the potential. Hanoi investors are more interested, especially when hearing about the upcoming strategic routes. If the infrastructure is on schedule, the market will increase very quickly.”

The benefits are not only in land or townhouses, the South of the province also possesses the potential for eco-tourism, unique culture, and can develop resort real estate, commercial services and housing associated with experiences.

Need a push to "take off"

Despite its great potential, the market is still quite quiet. One reason is the wait-and-see mentality of investors and people before the completion of key infrastructure projects.

Mr. Vu Van Son, an individual investor from Hanoi, shared: “I have been following this market regularly over the past years. Currently, the problem is not a lack of potential but a lack of real push to create a wave. When the infrastructure connecting Viet Tri and Hanoi is smooth, I believe that real estate prices in the South of Phu Tho province will no longer be at the current level.”

2025 is considered a year with many important changes related to administrative boundaries and the implementation of the two-level local government model, which will have a significant impact on the real estate market in the South of the province.

It is believed that, with the province's socio-economic development strategy after the merger, the real estate market in the South will gradually recover, not only serving housing needs, but also becoming an important economic sector, contributing to promoting tourism, services and trade.

As the majority of investors commented: "With the current price level, when infrastructure and policies are synchronized, real estate in the South of Phu Tho province will not only "warm up", but will become one of the new hot spots of the Northern market".

Hong Trung

Source: https://baophutho.vn/thi-truong-nbsp-bat-dong-san-nbsp-phia-nam-can-nhung-cu-huych-de-phat-trien-ben-vung-238360.htm