The real estate market in Vinh - Nghe An is booming in the last months of the year.

(Baonghean.vn) - 2017 is considered a pivotal year marking a strong transformation of the real estate market in Vinh - Nghe An. While the early days of the year saw an abundant supply from the influx of numerous "big players," the final months of the year saw the market become vibrant with a series of successful transactions.

Thanh Vinh – Nghe An: A golden land attracting real estate tycoons.

According to the plan approved by the Prime Minister, by 2020 Vinh City will become the economic and cultural center of the North Central region. In 2017, the province issued several mechanisms and policies to proactively develop Vinh City in accordance with the set direction. Infrastructure development has also received special attention, including road, waterway, air, and rail transport. Key transportation projects include the 72m Vinh – Cua Lo boulevard, the 35m road connecting National Highway 46 with the Lam River embankment, the Cua Hoi cable-stayed bridge connecting Vinh – Ha Tinh, the Vinh – Thanh Hoa expressway, and the expressway connecting Pacxan (Laos) – Thanh Thuy border gate. These will be the driving force, creating momentum for the real estate market to boom.

Vinh - Nghe An is changing day by day.

Recognizing the potential, renowned investors have continuously jumped in. Besides local investors, major real estate companies from Hanoi and Ho Chi Minh City have also joined, such as Viccentra – Eurowindow Group, Bao Son Group, VinGroup, T&T Group, FLCGroup, BRGGroup, Vinaconex, Handico... Notably, foreign corporations have also launched mega-projects such as VSIP - Singapore, Hemaraj Group - Thailand, Kovinet Group - Korea... in Nghe An. The presence of these real estate giants in Vinh brings an abundant and diverse supply to this promising area. Alongside the already booming land plot segment in the province, the apartment segment has become new, attractive, and has received good market absorption. Currently, there are over 100 real estate projects, including more than 60 apartment buildings that have been or are being developed, with prices ranging from 11 million to 16 million VND/m2.

Apartments dominate the market – Huge transactions at the end of the year.

Due to the increasing demand for apartment housing, Vinh City has attracted many investment projects to build high-rise apartment buildings. Many of these projects are comprehensively developed, incorporating multiple high-rise buildings, technical infrastructure, and public facilities, creating a civilized and modern urban architectural complex.

Speaking with a reporter, Mr. Nguyen Viet Anh, General Director of Dat Xanh Nghe An Real Estate & Services Joint Stock Company, said: “Following the general trend of developed cities around the world, as well as in Hanoi and Ho Chi Minh City, the housing preferences of people in Vinh City are currently leaning towards high-end apartments with smart designs, beautiful locations, full range of high-class services, convenience, security, and a civilized environment, and reputable developers. Especially young families and families with stable incomes are looking for comfortable and modern living spaces. According to the real estate cycle, transactions become much more active in the last months of the year due to bonuses and remittances gradually flowing in, as well as the psychology of buying houses before Tet to welcome a prosperous spring.”

The Euro Windown Nghe An project is located in a prime location.

Some notable projects include Bao Son Green Pearl and Bao Son Complex apartments, both developed by Bao Son Group. These two projects boast prime locations, unique designs, high-quality construction (regarded by experts), and comprehensive amenities, all priced at approximately 12 million VND/m2.

Located in a central position with four street frontages bordering major thoroughfares: Quang Trung, Nguyen Canh Chan, Phan Dinh Phung, and Dang Thai Than, T&T Victoria has received special attention from local customers and investors since its launch. Dubbed a miniature Singapore, T&T Victoria boasts a first-class landscape and amenities in Vinh City, featuring 45 facilities and services: a food court, shopping center, bank, spa, gym, multi-purpose room, table tennis area, reading area, playground, and more. The resounding success of T&T Group is a guarantee of the progress and quality of T&T Victoria.

A highly anticipated project in a prime location, now nearing completion and winning the hearts of both customers and investors, is the 20-story Eurowindow Nghệ An tower. Located right at the Vinh Market intersection, bordering three main streets, Eurowindow Nghệ An boasts a particularly advantageous and prime location in Vinh City. Since its launch, Eurowindow Nghệ An has been highly praised by professionals, architects, and construction experts for its quality and aesthetics, featuring a modern, robust, and sophisticated design.

It can be said that since major real estate corporations entered the Nghe An real estate market, people here and in neighboring provinces have for the first time had the opportunity to access and experience living in truly high-standard luxury apartments, contributing to the vibrant, professional, and sustainable development of the Nghe An real estate market.

Apartment prices in Vinh are considered reasonable and are seen as a potential investment opportunity. With the current rapid pace of infrastructure development and urbanization, apartment prices are sure to increase in the near future.

PV