Catching the “wave” of the new growth cycle of real estate, resonating with the strong momentum of the tourism industry and the flourishing disbursement of public investment, the Song Long Urban Area project with many “undefeated” advantages is becoming the target of investors.
Demand is constantly increasing, supply is scarce
In the context of the real estate market still facing many difficulties, the inner-city land fund is increasingly scarce, new projects for sale are also becoming rarer. Urban development and population growth have posed many challenges in finding a quality project at a good price.
In 2023, the primary real estate market recorded a significant decrease in supply. According to recent market survey data, the primary real estate market has a significant decrease in supply. Specifically, in Ho Chi Minh City, the land segment welcomed 22 projects with 1,850 plots, down 73% compared to 2022 and this is the lowest level in the past 5 years. Similarly, in the Da Nang market and surrounding areas, 8 projects were opened for sale with a new supply of 696 plots, down 74% compared to 2022. The consumption rate compared to new supply reached 31% (about 218 plots), equal to 15% compared to the previous year.
Supply is decreasing, customers are struggling to find quality real estate products.
The main reason is that they are blocked by legal bottlenecks, making state management agencies more cautious in approving projects. Legal problems also make it difficult for businesses to find outlets, and they do not have the resources to pay off debts and develop new projects... Therefore, the scarce supply becomes even scarcer.
In particular, at the end of the year, the demand for real estate increases, leading to a continuous increase in demand. The Consumer Sentiment Report (CSS) on trends in the second half of 2023 shows that 61% of survey participants plan to buy real estate in the next year. Of these, 51% want to buy for investment and land is the type of property that potential buyers are most interested in, followed by apartments (28%) and private houses (21%).
Nowadays, only investors with real financial resources and sustainable development can continue to exist in the market. Meanwhile, home buyers are in a situation of "eye fatigue" hunting for projects with solid legal status to buy for real or investment purposes.
New bright spot to lead the real estate cycle
Faced with the increasingly scarce clean land fund and difficulties related to legal issues, Nghi Xuan district with the advantage of owning many beautiful beaches, receiving coastal roads and concentrating a large number of rich residential areas has become a "promised land" with stable real estate prices, even low compared to the potential of the area, a "bright spot" in the midst of a gloomy market, lacking new projects.
The coastal road helps shorten travel time, promote trade and tourism between provinces and cities across the country, and is an area where breakthrough projects converge.
Located in the General Planning for the construction of the coastal tourism - urban - commercial area of Nghi Xuan - Loc Ha with diverse functions such as golf, resort, entertainment..., Nghi Xuan becomes one of the dynamic development areas of the whole Ha Tinh province, especially the eastern area associated with the sea.
Owning a golden land fund located on the national coastal road, and at the same time being a rare project about to launch in early 2024, the Song Long Urban Area project in Cuong Gian commune, Nghi Xuan district is the "golden rain" to quench the thirst of the real estate market at this time.
Considered a "diamond" among trillion-dollar infrastructure, located right on the expensive coastal tourist route with the advantage of "super connection" to central areas, leading tourism and resort facilities in Nghe An and Ha Tinh.
Song Long urban area is a rare project that owns 2 sides "Sea view - river view" with a prosperous and wealthy location.
In particular, the project product owns 2-3 open sides, along with extremely rare feng shui terrain "Next to the river - leaning on the mountain - next to the sea" enjoying the full dragon vein of the beautiful land. At the same time, the legal factor is safe, complete with a "fresh pink book" of long-term ownership, the Song Long Urban Area project is considered a "golden opportunity" to increase profits when the recovery cycle has begun to be activated.
Gathering countless outstanding competitive advantages, Song Long Urban Area project is an extremely attractive "piece of cake" in the "sights" of investors and real home buyers, especially when people are also "red-eyed" looking for suitable products, Song Long Urban Area shines more than ever in a market that is "scarred" of quality supply.
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