Local "fever" appears in Ha Nam
In the discussion "Ha Nam Real Estate: A New Cycle", Ms. Pham Thi Mien, Deputy Director of the Vietnam Real Estate Market Research and Evaluation Institute, Vietnam Real Estate Brokers Association (VARS) said: In the first half of the year, the Government and ministries are also making efforts every day to speed up the effective time of laws related to the real estate market from August 1.
However, some localities are facing difficulties due to the lack of key personnel with the authority to review and approve documents and records related to real estate projects. However, some localities are "bright spots" in the real estate market.
Ha Nam real estate market has grown strongly in recent times. (Photo: BHN)
According to Ms. Mien, Ha Nam has an average of 10 new real estate projects formed each year (except for the Covid years). Up to now, the whole province only has about 43 commercial housing projects and urban areas with basic housing completed.
Regarding the housing segment, in the first half of 2024, Ms. Mien informed that Ha Nam has 7 commercial housing projects approved for investment, 3 commercial housing projects granted construction permits, and 3 commercial housing projects eligible to sell future housing. In the second quarter alone, the whole province has only 1 project.
Regarding liquidity, in the first 6 months of the year, the whole province recorded 6,134 transactions with a value of more than 3,000 billion VND. In the second quarter alone, transactions exploded with 4,314 transactions, with a total value of nearly 2,564 billion VND, 2.4 times higher than in the first quarter of 2024.
Regarding selling prices, Ms. Mien said that in the first quarter, Ha Nam real estate prices remained stable, unchanged compared to the end of 2023. The market is mainly "loss-cutting" products of Ha Nam investors due to financial pressure, wanting to restructure their investment portfolio after a long period of capital burying.
In the second quarter, real estate prices recorded a slight increase, 3-5% compared to the previous quarter, driven by small waves from infrastructure, information on large-scale project implementation as well as investment demand shifting from other markets.
Notably, the Deputy Director of VARs IRE said that some areas recorded a local "fever" phenomenon, with prices growing hotly without basis, up to 30% higher than at the end of 2023 due to speculative groups creating confusing information, pushing prices down for profit.
This new price level is still being maintained despite the lack of liquidity because FOMO investors (buying because of the Fear of Missing Out effect) do not have cash flow difficulties, do not intend to "cut losses", accept to bury capital and wait for the rising wave.
According to the Deputy Director of VARs IRE, the price of land in Ha Nam on main roads and in the inner city is currently at 100 million VND/m2; in 3.5m alleys, in the inner city, it fluctuates at 30-40 million VND/m2; on main roads, on the inner city border, it is about 38-42 million VND/m2; in the Liem Chinh and Liem Chung areas, it is about 31-31 million VND/m2.
For residential land, the price of a plot of land with a car parking space in front of the door (10-15 million VND/m2), far from the city center (5-7 million VND/m2); Thanh Liem, Thanh Ha, Ly Nhan, Binh Luc (15-20 million VND/m2). Agricultural land is about 90 million VND/sao. Land around industrial parks is about 16-25 million VND/m2.
The Deputy Director of VARs IRE said that real estate prices in Ha Nam are only 1/3-2/3 of land prices in localities with similar locations and potential such as Bac Ninh, Bac Giang, Vinh Phuc, and Hung Yen.
“The real estate price level in Ha Nam is still very competitive, with a lot of room for growth in the future. Moreover, Ha Nam is a new market, a good opportunity for investors who know how to take shortcuts,” she said.
Near Hanoi, why hasn't the Ha Nam real estate market 'taken off' yet?
Although the Ha Nam real estate market has grown in recent times, in general, Ms. Mien believes that the Ha Nam real estate market has not "bounced up" because the projects developed in the previous period had inadequate quality and scale.
Possessing many advantages in attracting FDI capital and industrial development such as location, convenient transportation and good investment support policies, in recent years, Ha Nam has promoted attracting investment in real estate projects with many large enterprises such as Sun Group, Bitexco, BRG Group, T&T or Icon4...
Panorama of the seminar. (Photo: VV)
According to economist Tran Dinh Thien, the Ha Nam real estate market will have a bright future. The entire Red River Delta has 11 provinces and the prospect of the Ha Nam real estate market is shown in the fact that this is one of the provinces prioritized for investment and development.
Ha Nam is a province with a leading role, momentum and potential to develop strongly, booming in industry and tourism. Besides, although the population is small, Ha Nam is also a leading locality in urbanization. It has strong momentum among the 4 provinces and cities with an urbanization rate of about 30.7% in 2020.
“The urbanization level of Ha Nam is not high, but we have relatively good urban space. That means we have room, this is an advantage for investors in Ha Nam.
Two particularly important characteristics of Ha Nam are: connecting tourism development with the Tam Chuc spiritual tourism area and attracting large-scale investors to shape the urban "game", Mr. Thien emphasized.
Experts recommend that in order to attract and retain high-quality human resources, serving the planning orientation 2021 - 2030 (Ha Nam becomes a high-tech industrial center), Ha Nam needs to promote the development of housing projects, including high-end and luxury segments.
Investing in developing high-end urban areas will help dramatically change the appearance of the area and the infrastructure, creating a foundation for the Ha Nam real estate market to break through.
Source: https://www.congluan.vn/gan-ha-noi-vi-sao-thi-truong-bat-dong-san-ha-nam-chua-bat-len-duoc-post305369.html
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