After Tet, Nghe An real estate market begins to 'warm up'

Marketreal estatein Nghe An in general and Vinh city in particular during the period before and especially after Tet is quite bustling. Although the country is affected by the Covid-19 epidemic, Nghe An province is still safe and investors are still very interested in this field because it promises a lot of profit.

Recently, because the 72m Vinh - Cua Lo Avenue has been paved, land prices in this area have continuously increased. Photo: T.D

In addition, some of the most important routes are theVinh - Cua Lo Highwayhas been opened, connecting with many other routes under construction, Cua Hoi bridge connecting with Ha Tinh also makes the land in the eastern area of ​​the city "hotter". Investors are more interested when the urban connection between Vinh and Cua Lo is gradually appearing in the future. On many Facebook pages, "land brokers" and floors continuously advertise for sale plots of land and gardens in Nghi Xuan, Nghi Phong, Nghi Thai (Nghi Loc), Nghi Duc (Vinh city), Nghi Hai (Cua Lo town...). In fact, many plots have been through several owners, however, if there is a better price, the plots of land will continue to be sold.

Despite the continuous price increase, the real estate market around Vinh Boulevard - Cua Lo area is still very bustling. Photo: T.D

According to a survey, currently the land price in Nghi Phu area, lane 2, 72m road, Vinh city center, before Tet is trading at 22 million VND/m²but after Tet it increased to 26 million VND/m², some places more. Particularly, the auctioned land plots in Quan Bau ward at the end of 2020, the price ranges from 21-23 million VND/m² But in the first months of 2021, there were land lots traded at 26 million VND/m2.².

In particular, the resettlement areas serving the 35m road (WB Project) are very attractive for investment due to their connection with Vinh Cua Hoi - National Highway 1A, National Highway 46... 2 years ago, the price was only about 8-10 million VND/m²but now it has increased to 15-20 million VND/m².

In addition to the big real estate businesses, many people also choose to invest in real estate as a business experience. Photo: T.D

In the land plots in Vinh Tan, Dong Vinh, Hung Hoa urban areas (Vinh city), many people still ask for information to buy, and many transactions have been successful before the Lunar New Year.

One of the reasons why real estate in Nghe An and especially Vinh city is still bustling is that Nghe An has been promoting investment in transport infrastructure and industrial parks. The land fund in the city center is increasingly narrowing. Besides, many business sectors have been gloomy recently while the cash fund among the people is still quite good.

Mr. Tran Huu Tinh, a real estate businessman, said that people are worried that this is the time to appear.real estate bubblein Nghe An? People are also concerned that if the bubble expands, it will affect business investment, however, these are unfounded concerns because of the quite successful transactions and good prospects from some new projects.

Mr. Pham Thanh Hai - Chairman of Nghi Duc Commune People's Committee added that Nghi Duc used to be a commune with few advantages in Vinh city, now with the expansion of traffic with many routes passing through such as Vinh - Cua Lo Boulevard, 35m road, land transactions in some places in the commune are more active than before. Real estate prices along major roads increased by 15-20% compared to 6 months ago.

If the Covid-19 epidemic is well controlled in the coming time, Vinh city will still be an attractive destination for real estate. Especially when it is further enhanced by the appearance of real estate giants in promising projects being promoted such as Eurowindow Holding, Ecopark, Vingroup, Military Petrochemical Joint Stock Company, VSIP... which has led to the development of trade and services, employment and economic restructuring of regions and areas...