The hottest land in the first half of 2024; Hanoi apartment prices continue to increase
Bac Ninh leads in the number of social housing projects; The number of real estate transactions in Ha Nam increased 4 times; More than 1,600 land plots in Bac Giang are allowed to be transferred; Daewoo wants to build a 364 million USD urban area in Thai Binh.
That is some notable information in the real estate market last week.
Land is the "hottest" segment in the first half of 2024
In the document serving the conference to review the work of the first 6 months of the year and deploy tasks for the last 6 months of 2024, the Ministry of Construction concluded that the market has responded positively to signals such as the level of interest, the number of searches for real estate information, etc.
“The transaction volume for apartments, individual houses and land plots tends to increase, with each quarter being higher than the previous quarter and higher than the same period in 2023,” said the Ministry of Construction.
Accordingly, in the first 6 months of 2024, the market recorded about 253,000 successful transactions, an increase of about 10.26% over the same period last year. Notably, the Ministry said, the majority of transactions were mainly focused on the land segment.
Not only that, after a long period of scarcity, supply is also showing signs of changing in a more positive direction. A series of old projects have been restarted and many new projects have been opened for sale in the first half of this year. Specifically, in terms of commercial housing, the country has 18 completed projects, 23 newly licensed projects and 984 projects under implementation.
In the social housing segment, 8 projects have been completed in the past 6 months. So from 2021 to now, nationwide, 503 social housing projects have been implemented with a scale of 418,200 units. Of which, 75 projects have been completed, corresponding to 39,884 units.
In terms of transaction prices, apartment prices have continuously increased from the end of 2023 until now, especially in big cities such as Hanoi and Ho Chi Minh City.
“For individual housing and land, transaction prices also tend to increase. The reason is said to be due to high apartment prices and scarce supply, causing prices in this segment to increase sharply,” the Ministry of Construction explained why other segments are also being pushed up in price.
Hanoi apartment prices continue to increase
According to CBRE, in the first 6 months of this year, the total supply of newly opened apartments recorded more than 10,840 units from 17 projects. This is the highest number ever recorded, since 2020.
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| The apartment segment is expected to remain the focus in the coming time. Photo: Thanh Vu |
The research unit also added that the average selling price of apartments in Hanoi in the second quarter of 2024 is increasingly approaching the price level in Ho Chi Minh City. Specifically, in the primary market, the average selling price of apartments reached approximately VND 60 million/m2, an increase of 6.5% quarter-on-quarter and nearly 25% year-on-year.
In the secondary market, after a period of hot growth in the first quarter, the increase in selling prices this quarter has slowed down and fallen to around VND38 million/m2, up 5% quarter-on-quarter and more than 22% year-on-year.
The increase in selling prices cannot hinder the purchasing power of the market. In the first 6 months of the year, more than 12,200 apartments were traded, exceeding the record for the whole year of 2023. "In the second quarter of 2024, the number of apartments sold reached 10,170, 5 times the number of apartments sold in the previous quarter," said Ms. Nguyen Hoai An, Senior Director of CBRE Hanoi Branch.
22 mini apartments and 16,479 boarding houses in Hanoi were asked to stop operating.
At the press conference announcing the results of public security work in the first 6 months of 2024, Lieutenant General Nguyen Hai Trung, Director of Hanoi City Police, informed about the general inspection and review of types of vehicles with high risk of fire and explosion in the city.
Accordingly, for boarding houses, the police inspected 36,972/36,972 establishments; sanctioned 3,134 cases/4,310 acts, fined more than 12.83 billion VND; temporarily suspended 672 cases, 75 cases are being suspended, required 16,479 establishments to stop operating; 100% of investors have signed a commitment to implement.
Regarding mini apartments, the agency has inspected 193 establishments; temporarily suspended 14 cases, suspended 4 cases, and required 22 establishments to stop operations.
In the apartment building category, the authorities inspected 317 establishments; penalized 4 cases, fined over 93 million VND; temporarily suspended 2 cases, and 2 cases are currently suspended.
Bac Ninh leads the country in the number of social housing projects.
According to the Ministry of Construction, there are currently 561 social housing projects nationwide that have been started, equivalent to 518,070 apartments. Of these, Bac Ninh is the leading locality with 16 projects, equivalent to 10,792 apartments.
Several other localities also have many social housing projects that have been started, such as Hai Phong (9 projects), Thanh Hoa (10 projects), Dong Nai (8 projects), Binh Duong (7 projects)...
By early July 2024, about 10,000 hectares of land had been planned for social housing nationwide. Some localities have been "set as an example" by the Ministry of Construction when paying much attention to allocating land for project development, such as Dong Nai (1,064 hectares), Ho Chi Minh City (609 hectares), Quang Ninh (704 hectares), Hai Phong (837 hectares).
Regarding the VND120,000 billion support capital, in addition to the four state-owned banks including BIDV, Vietinbank, Agribank, Vietcombank, TPbank and VPBank have now registered to participate in the program with a total amount of about VND10,000 billion. To date, the banks have disbursed VND1,234 billion, accounting for about 1% of the total credit package.
Daewoo wants to build a $364 million urban area in Thai Binh
Recently, the Department of Planning and Investment of Thai Binh province has issued a notice to find investors for the new urban area of Kien Giang. This project is located in the area of three wards: Tran Lam, Quang Trung, Ky Ba and two communes: Vu Chinh, Vu Phuc.
Currently, there is only one investor registered to bid, which is the consortium DECV – THT – GIP Land – ZUP. In which, DECV is Daewoo Engineering & Construction Vietnam Co., Ltd. THT is THT Development Co., Ltd. – a member unit of Daewoo E&C Vina.
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| Perspective of Kien Giang new urban area. |
GIP Land and ZUP Invest are both newly established companies this year. Both are headquartered in Thai Binh province.
The Kien Giang new urban area project has a scale of more than 96 hectares. The preliminary cost for implementation is nearly 9,270 billion VND. The urban area owns 1,400 individual houses, including 858 townhouses and 544 villas.
In addition, the project also includes five 25-storey apartment buildings and 15-storey social housing. Upon completion, the urban area will be home to approximately 18,600 people.
Number of real estate transactions in Ha Nam increased 4 times
According to the Department of Construction of Ha Nam province, in the second quarter of 2024, the number of transactions of apartments, individual houses, and transferred land reached 4,314 transactions, 4 times higher than the same period last year. The total transaction value also doubled, reaching 2,562 billion VND.
In the past quarter, local leaders granted construction permits for two projects, including a commercial and service area combined with housing in Liem Chung and Liem Tiet communes (Phu Ly city) and a new urban area in Tan Thanh town (Thanh Liem district).
In addition, the province also has another project eligible to sell future housing, which is a commercial service center combined with housing, in the Bac Chau Giang urban area (Phu Ly city). Currently, no project has been completed in the second quarter of 2024.
Regarding the social housing segment, Ha Nam province approved the investment policy for a project last quarter. This project is located in Dong Hoa, Nhat Tan, Dai Cuong communes (Kim Bang district). So far, the province has approved the investment policy for 6 social housing projects.
In addition, a number of other social housing projects are also in the process of researching and preparing procedures to attract investment, such as projects in Duy Minh and Duy Hai wards, Duy Tien town.
Hoa Binh seeks investor for project worth over 2,300 billion VND
The People's Committee of Hoa Binh province has approved the preliminary requirements on the capacity and experience of investors registering to implement the Cuoi Ha new rural residential area project in Kim Boi district.
The project has a total land area of 53.16 hectares and is expected to be home to 985 housing products. When completed, this residential area will be home to about 4,000 people.
The total investment of the project is 2,398 billion VND. The project implementation progress is no more than 5 years, lasting from the second quarter of 2024 to the end of the second quarter of 2029.
The project's operating period is 50 years from the date the Provincial People's Committee approves the investment policy.
To register to implement this project, investors need to meet a number of requirements, such as minimum equity capital of VND 332.25 billion; have participated in implementing at least 1 type 1 project, or 2 type 2 projects, or 2 type 3 projects...
Thai Nguyen auctions 32 land lots, prices from 7.4 million VND/m2
Viet Bac Joint Stock Auction Company recently announced the auction of the right to use 32 land lots in residential area 11B, Tan Lap ward. These lots have an area ranging from 226 - 389 m2.
For plots adjacent to 12-meter wide roads, the starting price is from 7.4 million VND/m2. For plots with 15-meter wide roads, the price will be from 8.9 million VND/m2. Finally, for plots adjacent to 19.5-meter wide roads, the price will be from 9.9 million VND/m2.
The deadline for submitting bids is July 26. The auction is scheduled to take place on the morning of July 29.
Previously, the People's Committee of Thai Nguyen City collected more than 117 billion VND from 47 plots of land in residential area No. 11B. This amount is more than 40.2 billion VND higher than the starting price.
More than 1,600 land plots in Bac Giang are allowed to be transferred.
Recently, the People's Committee of Bac Giang province has issued a series of decisions on areas where land use rights can be transferred in the form of dividing plots and selling land to people to build houses.
Specifically, in Decision No. 643/QD-UBND, the residential area next to Tan Tien Primary School, in Zone 4 of the Southern Urban Area, is allowed to transfer 281 residential land lots.
The project is located in Tan Tien commune and borders three major roads, including Provincial Road 293, Vo Van Kiet Road and the city's belt road. In addition, Zone 4 also borders the City People's Committee in the North; borders the road to Dong Son Bridge in the South; borders Provincial Road 239 in the East and borders the residential area in the West.
In Decision No. 649, investors are allowed to transfer land use rights of 629 lots in the Southwest urban area.
This project is located in My Do ward and Tan My commune. The project borders residential group number 4 in the North; borders Ba Trieu street in the South; borders the new urban area of My Do ward in the East; borders the main road of the Southwest urban area (48m road) in the West.
With Decision No. 650, the province allows the transaction of 323 residential land lots in urban area No. 13, in subdivision No. 2.
This project is located in Tan Tien commune and borders provincial road 293 in the North; borders residential area in the South; borders 35m planned road in the East; borders 75m planned road in the West.
Finally, in Decision No. 651, buyers are allowed to transfer land use rights of 443 lots in the Southern project, urban area No. 22, subdivision No. 2.
The project is located in Dinh Tri commune and Yen Dung district. The urban area borders Bac Giang Vocational College and Coc residential area to the North; borders Huong Gian commune's agricultural land to the South; borders Rung Trong village and Tay village to the East; borders Thuyen village to the West.
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