Real estate at the end of 2024: Market wave shifts to local areas
The Vietnamese real estate market will have a strong shift at the end of 2024 when capital flows to the provinces with large land funds, attractive prices and increasingly invested infrastructure.
“A breath of fresh air” blows into the local real estate market
In the last months of the year, many provinces and cities across the country have stepped up real estate investment attraction with large-scale projects. In Thanh Hoa, the new residential area Nam Dong Thieu (6.4 hectares, 126 billion VND) and the urban area Sunrise City in Hoang Hoa (48.3 hectares, more than 2,134 billion VND).
Or in Quang Binh, the Con Ket urban area in Ba Don town (50 hectares, 1,648 billion VND) also attracted attention, while Nghe An attracted capital with the Cua Lo Housing Project (13.1 hectares, with 510 billion VND) and the Hung Hoa new residential area (4.22 hectares, with 342.1 billion VND). These projects not only supplement the housing supply but also promote socio-economic development in the localities.
In addition to the diversity of project supply, the demand for provincial real estate is also supported by the strong development of industrial real estate. Areas such as Bac Ninh, Bac Giang, Hai Phong, and Hai Duong, Nghe An,... stand out thanks to their high economic growth rate and synchronously developed transport infrastructure, becoming "hot spots" of the market.
The high price of real estate in Hanoi and Ho Chi Minh City has caused many investors to turn to the provinces to seek optimal profits. According to Mr. Nguyen Van Dinh - Chairman of the Vietnam Real Estate Brokers Association, local projects with clear legal status and large growth potential are becoming the top choice.
In addition, the "buying" action of investors can also be explained by the concern that real estate prices will skyrocket in the near future. It is forecasted that in the future, the prices of all types of real estate will tend to increase when the new land price list is applied, because related costs such as taxes and fees may increase.
According to experts, this is the "permeation" phase of the new Laws related to the real estate market that have just come into effect, thereby creating a foundation for the market to recover sustainably. Mr. Nguyen The Diep - Vice President of the Hanoi Real Estate Club commented: "Real estate will not decrease in price. If good mechanisms and policies are created, the market will have the motivation to develop and have a high possibility of entering a new price increase cycle."
In the context of increasingly limited land funds in big cities, provincial real estate is not only a temporary trend but also a promising long-term strategy. The synchronous development of infrastructure, combined with the demand for high-quality living, will continue to be the main driving force for this market in the near future.
Welcoming the new growth cycle, investors flock to Cua Lo
In the real estate picture at the end of 2024, Cua Lo emerged as a “bright star” with the perfect combination of natural advantages, modern infrastructure, and outstanding tourism potential. The official merger into Vinh city has created a big push, attracting strong interest from strategic investors.
A series of key infrastructure projects such as Cua Hoi Bridge (VND950 billion), Vinh - Cua Lo Boulevard (VND1,415 billion), and Cua Lo Deepwater Port (over VND7,000 billion) have comprehensively upgraded connectivity, promoting economic and real estate development. In parallel, the Cua Hoi entertainment area with a scale of 195.5 hectares offers a classy experience, consolidating Cua Lo's position as the leading resort center in the region.
When talking about the potential of Cua Lo, we cannot ignore the tourism highlights here. According to statistics, in 2024, the total number of visitors is estimated to reach more than 5 million, an increase of 39% over the same period. Of which, revenue from service and tourism activities is estimated at 5,130 billion VND, an increase of 44% over the same period. This is a clear demonstration of the growing attraction of this coastal market.
With the advantages of “heavenly time and favorable location”, Cua Lo is not only a tourist destination but also a “golden land” for investors. With the potential for tourism, resorts and commercial real estate, Cua Lo is truly a promised land for those who wish to seek sustainable profit opportunities and long-term growth.
In the context of local real estate being a promising “playground” with strong development steps, Cua Lo is rising to become a new “center” of the coastal real estate market, bringing attractive investment opportunities to help investors get ahead of the new cycle.
