Location is gold
The real estate market has been through more than a year of difficulties, but land is an exception. A report from the Ministry of Construction shows that in the second quarter of 2023, the land market grew strongly in terms of the number of newly licensed projects, projects under implementation and completed projects. In particular, land transactions accounted for 70% of total transactions in the whole market, reaching more than 67,500 transactions.
Project site plan of Thong Dong Yen residential area, Dong Phong commune, Yen Phong district
The report of the Vietnam Association of Realtors (VARS) in the third quarter of 2023 continued to record that land plots were the main segment, together with low-rise buildings, accounting for 54% of the total supply of the real estate market. Land plot transactions also made their mark when many provinces and cities announced information on the auction of hundreds of land lots with transaction prices higher than the offered auction prices.
The above statistics show that land is currently the target of buyers and real estate investors. This is the reason why land prices in the North have maintained a continuous upward trend this year, by the third quarter of 2023, they had increased by about 5% compared to the end of last year.
In fact, the land market has experienced a decline in some places. However, the decline only appears in remote areas, lacking infrastructure, without real economic support and being "pushed" too high by speculative waves during the period of cheap money. Meanwhile, land in areas with good economic conditions, convenient transport infrastructure, prime locations, adjacent to residential areas, especially near industrial parks, always maintains its attraction, stability and growth in both liquidity and value. This also explains why densely populated areas and industrial park development are often sought after by investors for land products. Typically, Bac Ninh, one of the largest industrial centers in the North, by the end of the third quarter of 2023 had 12 land projects under implementation with a total of 1,875 products, attracting a large number of investors, creating one of the most vibrant "scenes" of the current Northern real estate market.
An investment attraction project in Yen Phong district - industrial capital
Emerging as a “red address” on the Bac Ninh real estate map, Yen Phong district is the target of investors. Yen Phong is located in the west of Bac Ninh province, only 10km from Bac Ninh city, is the “industrial capital” of the province and is being proposed to become a city according to the project of Bac Ninh province.
Here, Dong Phong commune is considered an area with special investment attraction with two key traffic routes including Noi Bai - Ha Long Expressway and Provincial Road 286. These two routes intersect at Dong Yen village, creating a rare prime location for investment projects here, the most prominent of which is the Dong Yen village housing project invested by REQ Company Limited.
The project owns 548 adjacent products and shophouses attracting investors.
With a scale of 10.8 hectares, the Dong Yen Village Residential Area project offers 548 shophouses and townhouses to the market. This is considered one of the outstanding housing and land projects, possessing a prime location, with the entire row of shophouses directly connected to Provincial Road 286. Accordingly, the East and South of the project are adjacent to the housing and service area for workers and employees of the industrial park in Dong Phong commune; the West is adjacent to the existing residential area and the North is adjacent to the existing residential area and Provincial Road 286.
Surrounded on all four sides by densely populated residential areas, this brings outstanding advantages to project residents when inheriting regional traffic connections and well-completed public utilities and services such as schools, cultural houses, and sports areas. In addition, with the existing large community, starting a business also becomes easier when there is a community of potential customers available.
More importantly, the point that attracts investors is the project's location adjacent to the district's key industrial parks including: Yen Phong 1, Yen Phong 1 expansion, Yen Phong 2 (including Yen Phong 2C and VSIP Bac Ninh 2). This is where the country's leading brands are concentrated, with investment levels of up to billions of USD such as Samsung, Panasonic, Orion, Hansol, Dawol... with a workforce of up to tens of thousands of people, with a large number of officials, experts and senior managers.
The connection from the project to industrial parks is extremely convenient, only 3 minutes to Yen Phong 1 Industrial Park, 10 - 15 minutes to Yen Phong 2 Industrial Park, as well as Bac Ninh city or Cho town. This makes the project a transit station, a connecting place for travel not only of Yen Phong district but also of Bac Ninh province. Contributing to increasing business efficiency, leveraging the value from residence to commerce to a new level in the future due to the demand for accommodation and residence growing sustainably over time. According to the province's estimates and projections, Yen Phong is expected to reach 255,000 people by 2025, promising great potential for developing accommodation business, trade and services.
With the characteristics of real estate, experts believe that location is always the first and important factor that creates the value of a project. And with the prime location of the Dong Yen Village Residential Area project, the price from 25-35 million/m2, the project is attracting cash flow from investors to own land products adjacent to the industrial park. It is even more prominent and attractive when all the land lots have complete legal documents with long-term ownership red books, making the project attracting the attention of investors in Bac Ninh province as well as from Hanoi and neighboring provinces.
Source
Comment (0)