Since the beginning of 2024, the Bac Giang real estate market has recorded a very positive recovery in terms of supply, liquidity and selling price. In that context, choosing which segment and product to "put money into" is becoming a major concern for investors.
Impressive comeback
In recent years, Bac Giang has been one of the fastest growing markets in the North, especially in the industrial real estate segment thanks to the "invasion" of foreign enterprises under the impact of the international investment shift. Along with that, other segments such as land, villas - townhouses, and apartments have also had impressive growth.
After a period of recession in 2022 - 2023 due to the general difficulties of the national market, the Bac Giang real estate market has risen very quickly since the beginning of 2024. According to statistics from the Bac Giang Real Estate Association, in the first quarter of 2024, there were an estimated 3,400 real estate transactions through notarization, a significant increase over the same period last year. In terms of price level, in almost all segments, the average selling price of products increased by 10 - 15% compared to the "bottom" level in 2023.
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Bac Giang real estate attracts investors |
According to Mr. Le Dinh Chung, General Director of SGO Homes, real estate transactions in Bac Giang are especially good from April 2024 onwards. “We sell here, some months selling more than 100 units. Product prices have generally grown quite well compared to the bottom of the previous period, even some locations in the city center have recovered to their old peaks.”
Notably, Mr. Chung said that the land auction market in Bac Giang has been very active since the beginning of 2024. The land auction price has been growing continuously. If at the beginning of the year the winning price was only 50-100 million VND/lot higher than the starting price, by April - May, the winning price was 25% higher than the starting price. It is worth mentioning that the auctions attracted the participation of many investors from all over.
In fact, in the first half of 2024, Bac Giang had many "record" auctions. For example, the auction of 65 land lots in Viet Yen town on May 15, the total starting price was 93.9 billion VND, while the winning price was up to 198.8 billion VND, a difference of up to 104 billion VND.
The auction organizers said that the products put up for auction were few but the number of applications and customers participating was often very high. There were sessions where only a few dozen lots were auctioned, but there were nearly a thousand applications. Notably, not only customers in the province but also many investors from other localities participated in land auctions in Bac Giang.
Besides auctioned land, other segments such as commercial housing and social housing have also witnessed increased liquidity. Typically, the Vinhomes Skypark project has almost sold out its inventory, or the Evergreen Bac Giang social housing project has sold about 600 units to beneficiaries.
Mr. Vu Kim Giang, General Director of Hai Phat Land, assessed that most real estate segments in Bac Giang have good sales. “Urban land transactions are very good, we sold about 200 plots in just 2 months. Apartments also sell well because they can be rented out well while the price is reasonable. Low-rise houses, although not as good as land, still have liquidity, and the ability to exploit the trade is also better than before.”
Investor preference trends
The strong and even recovery of the Bac Giang market across many segments has opened up a series of opportunities for investors. However, this also raises the “problem” of where to invest to get the best profits.
In fact, like any other area, investors in Bac Giang also favor projects in the city center. Because this area possesses all the advantages of a leading project: prime location, synchronous infrastructure, modern planning, and the ability to quickly connect to administrative, economic, cultural, and entertainment "strongholds".
In addition to the above factors, Mr. Le Dinh Chung, General Director of SGO Homes, also emphasized that investors at the present stage are particularly interested in the legality of the project. A project that is complete, legally standard, and has a red book is always the top priority. This explains why auctioned land and projects developed on auctioned land are so attractive to buyers.
A typical project type developed on auctioned land in Bac Giang city that is currently attracting great attention from investors is The Terra - Bac Giang by investor Van Phu - Invest. The project is located in the southern urban area, Dinh Ke ward, the new administrative center of the city. Surrounded by major roads, convenient and easy connection to the most dynamic economic areas with rich amenities such as: Walking street, GO! supermarket, square, stadium, Hoang Hoa Tham park... This diamond location increases the value of the product because it creates the foundation for a comfortable life with the ability to do rental business with outstanding returns.
Another thing worth mentioning is that the entire project has only 66 single villas, 43 low-rise townhouses and 688 apartments in 2 twin towers. The limited quantity is one of the fundamental factors that help the project have the prospect of increasing value over time.
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The Terra - Bac Giang project developed by Van Phu - Invest |
According to experts, the Bac Giang real estate market is entering a new growth cycle, supported by economic development, increasing FDI attraction capacity and increasing people's purchasing power.
In the context of the largest market in the North, Hanoi, with a serious shortage of supply and the price level at its "peak", causing investment opportunities to dry up, investment capital is "migrating" to more potential locations. And Bac Giang, with its superior advantages, is the destination of the cash flow. This will further enhance the profitability of real estate investments in this locality, of which The Terra - Bac Giang is an ideal choice.
Source: https://baodautu.vn/batdongsan/bat-dong-san-bac-giang-khoi-sac-dong-tien-huong-vao-dau-d221263.html
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