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Hoa Binh is the most attractive real estate market in Northern region

Hoa Binh is the most attractive real estate market in Northern region

According to Batdongsan.com.vn’s real estate market report, the third quarter (Q3) of 2019 continued to witness the excitement of many Northern provincial markets.
07:00, 27/10/2019

The number of listings and the interest level of users in these provinces and cities have increased sharply.

Vinh Phuc, Hung Yen and Hai Phong are the top 3 regional real estate markets with the largest growth in term of the number of listings compared to the previous quarter. Specifically, the number of listings increased by 27% in Vinh Phuc, 25% in Hung Yen increased by 25% and 19% in Hai Phong. Not only leading in the number of listings, Hai Phong and Hung Yen were also among the top markets in term of search volume of users. The level of user interest rose by 36% in Hai Phong, 62% in Hung Yen, and 73% in Hoa Binh increased by 73%. In particular, Anh Dung 5 urban area (Hai Phong), Ecopark urban area (Hung Yen), Flamingo Dai Lai (Vinh Phuc) are the most sought-after projects in the Northern provincial markets.

Hoa Binh is emerging with the highest growth in real estate search among the Northern provinces.

According to Mr. Nguyen Ngoc Hieu, Head of Market Research at Badongsan.com.vn, the superiority of users’ search behaviors shows Hoa Binh real estate is attracting investors’ interest. In fact, at the end of 2018, Hoa Binh authorities held a conference to introduce local potentials, strengths and preferential investment policies in order to call for and attract investment into the province. At the conference, the Hoa Binh People's Committee of Hoa Binh granted Decision on investment policy to 9 investors, implemented 9 projects and signed an Investment Memorandum with 15 investors, implementing 19 projects in the province with the total investment up to VND94 trillion.

Many real estate giants with hit projects such as Vingroup, FLC, T&T and Geleximco have contributed to the firgure of VND94 trillion. In Hoa Binh, Vingroup is well known for its Vincom Plaza shopping center in the city area. At the end of last year, Geleximco opened a 27-hole golf course in the Northern province. The developer has also been successful bidders for two big urban area projects, namely Trung Minh – Geleximco ecological urban area, and Hoa Binh - Geleximco new urban area project.

FLC also plans to develop a series of large projects such as resorts, ecological urban areas, sports and entertainment zones, covering over 690 hectares in Yen Lac commune, Yen Thuy district, with total investment capital of over VND10 trillion; or the 184-hectare Thung Nai eco-tourism and resort urban area project, etc.

Meanwhile, T&T proposes 7 projects in urban, commercial, service and agriculture sectors in Hoa Binh. The developer also focuses on developing agriculture with two high-tech agricultural projects covering an area of 1,700 hectares in Da Bac district and the 700-hectare Ky Son agricultural urban area.

With these changes, Mr. Hieu said that it is not hard to understand why Hoa Binh real estate has the largest growth in search volume on Batdongsan.com.vn.

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