Long An real estate still maintains its value after many market fluctuations

Stable due to less “surfing” transactions

According to data from Batdongsan.com.vn, in the first 6 months of 2023, although liquidity has not improved, the number of loss-cutting listings in Long An is less than in surrounding areas. The data shows that only the number of real estate searches in this area has fluctuated.

Specifically, searches for land and project land in Long An in June and July decreased by 10%, while searches for private houses decreased by 15-16% compared to May. For street-front houses, the data in July recorded a decrease of 10% compared to the previous month, and compared to early May 2023, the decrease was nearly 30%.

Meanwhile, in the apartment and villa segments, searches showed signs of increasing in July by 12% and 14% respectively compared to the previous month. However, searches were only concentrated in certain areas in Ben Luc. Although these are positive indicators, searches still decreased by nearly 10% compared to May.

Especially with the increasing demand for real estate, the apartment type in Long An has maintained a continuous increase in searches for many months. Even compared to the beginning of the second quarter of 2023, the number of searches for this type of real estate in Long An has increased by 25%.

Apartment segment in Long An still records many transactions.

Although there are fluctuations in the level of interest in each type, according to data from Batdongsan.com.vn, the price level of all types in Long An has remained stable over the past 7 months. For example, the most searched type is apartments, the selling price has almost not fluctuated. The average price is being maintained at 20 - 21 million VND/m2, not much fluctuation compared to the beginning of 2023 and the same period in 2022.

Explaining the stability of the selling price, many experts said that the supply in the Long An market has not changed dramatically. Most of the products sold in the past time are from old stocks. Investors are also quite cautious in bringing products to the market because they are still afraid of the impact of the general market.

In addition, unlike many provinces in the suburbs of Ho Chi Minh City, the Long An real estate market has recorded very few speculative transactions. Therefore, real estate prices in Long An are rarely pushed up by virtual prices, causing sudden price increases and leading to sharp losses due to holding "peak" prices. Transactions in the past have had stable prices, without too much increase or decrease, consistent with the real value of the product and the market demand in the current period.

Market with great potential

Thanks to its stability, Long An is considered one of the most potential markets today. Especially in recent times, a series of infrastructure development projects have been invested in this province. In addition, there are many large-scale urban area projects being formed, creating great potential in the long term.

Specifically, according to the planning just approved by the Government, in the period of 2021-2030, Long An will have 27 urban areas. Including type I urban area, Tan An city, type II urban area, Kien Tuong town and 3 type III urban areas, including Ben Luc, Can Giuoc, Duc Hoa. In addition, there will be 9 type IV urban areas and 13 type V urban areas.

If Tan An City plays the role of a center of trade, services, and high-tech industry. Duc Hoa, Ben Luc, and Can Giuoc are satellite cities, playing the role of reducing the pressure on population, social infrastructure, and technical infrastructure for Ho Chi Minh City.

Many traffic projects from Ho Chi Minh City to Long An are being implemented, which is a strength for future real estate development.

In terms of infrastructure, urban areas in Long An are forming rapidly thanks to a series of traffic projects with accelerated investment progress, helping to increase inter-regional connectivity and socio-economic development. These include the Ben Luc - Long Thanh expressway; expansion of National Highway 1 from Ho Chi Minh City to Long An, National Highway 50; Nguyen Van Linh - Nguyen Huu Tho intersection, closing Ring Road 2, Ring Road 3, etc.

Long An province is also studying the investment in Tan Son Nhat - Tan An expressway to combine with Thu Duc - Moc Bai expressway and Ben Luc - Long Thanh expressway to form a traffic belt around Ho Chi Minh City. These are positive factors for the development of satellite cities in the future.

In addition, with Long An real estate still maintaining a fairly "soft" price compared to other provinces around Ho Chi Minh City, investors can buy a plot of land for just over or under 1 billion VND. Even more expensive types such as villas, the current price only fluctuates around 5-6 billion VND/unit.

With few short-term transactions, mainly focusing on long-term investment, the development potential of Long An real estate is still assessed to be very large in the future.

Source: https://www.congluan.vn/bat-dong-san-long-an-van-giu-gia-sau-nhieu-bien-dong-cua-thi-truong-post260163.html