Land prices in Can Tho are less than half of those in Hai Phong and Da Nang.

According to a report by the Vietnam Association of Realtors (VARs), real estate in the Southwest region is benefiting from transport infrastructure.

In fact, the West is one of the 7 major economic regions, with an area of over 4 million hectares, a population of over 19 million people, and is the granary of rice, food, fruit, etc. of the whole country. However, in recent times, this region has been considered the "lowland" of the whole country, with development not commensurate with its potential. Because of the slow transformation of the purely agricultural economic structure and the inadequate human resources.

Although in recent years, many key projects have been invested. Road, waterway, maritime and aviation systems, vertical axes, cross-roads, large river bridges such as My Thuan, Can Tho, Rach Mieu, Vam Cong, Cao Lanh, Dam Cung, Nam Can... have created a better traffic network. But overall, it is still at an average level, not meeting the requirements.

Land prices in Can Tho are less than half of those in Hai Phong, Da Nang, picture 1 — Can Tho real estate has a lot of potential, in which land prices are less than half compared to similar cities such as Hai Phong and Da Nang. (Photo: XD)

As of 2020, the entire region had only 45 km of highways, accounting for about 3% of the country's highway length. By mid-2022, the Mekong Delta region had only 91 km of highways out of a total of 1,239 km nationwide, accounting for 7%.

However, recently, the Mekong Delta region has received much attention and investment in infrastructure. According to the plan, by 2030, the Mekong Delta region will have 760 km of highways, and by 2050, 1,180 km of highways. In the next 4 years, this region will have Rach Mieu 2 and My Thuan 2 bridges across the Tien River, Dinh Khao bridge across the Co Chien River and Dai Ngai bridge connecting the two banks of the Hau River with a total investment of more than 20 trillion VND.

Up to now, the Mekong Delta has completed and put into operation the first phase (4 lanes) with a total length of 171 km including the expressway sections Ben Luc - Trung Luong (40 km), Trung Luong - My Thuan (51 km), Cao Lanh - Lo Te (29 km) and Lo Te - Rach Soi (51 km).

“The above expressways not only facilitate economic development but also contribute to promoting and creating a “push” for the real estate market in the provinces of the Western region to develop,” stated the VARs report.

Mr. Nguyen Van Dinh, Chairman of VARs, said that in recent times, the real estate market in the Western region has developed relatively stably, with few virtual fevers, low prices, and much room for growth in the future. Meanwhile, real estate prices in Ho Chi Minh City and the Eastern part of the city, including Binh Duong, Dong Nai, etc., are too high, and the land fund has almost been filled.

When distance is no longer an issue to consider, the trend of moving to new neighboring markets - provinces in the Mekong Delta region, with well-planned planning and full modern infrastructure and utilities, is inevitable.

Moreover, with the vision of planning and transport infrastructure increasingly focused on investment, attracting a large amount of investment in business and services from within and outside the country, the rapid urbanization speed along with the growth of tourism attracts a large number of mechanical residents, the population density is increasing. Therefore, the demand for housing is increasing.

“Especially in Can Tho, land prices are less than half of those in similar cities such as Hai Phong and Da Nang,” Mr. Dinh commented.

A series of key projects that have been approved or are in the preparation and initial procedure completion stages will start construction in the near future, and key expressway projects that have been, are being implemented and completed will create a longitudinal expressway for the West passing through Can Tho City. In addition, the Western Ring Road projects connect with important national and Mekong Delta traffic routes such as National Highway 91, National Highway 61C, National Highway 1, creating a complete traffic system, helping the transportation of goods and passengers between the city and neighboring provinces to be convenient, fast and safe.

In particular, when the My Thuan – Can Tho expressway project is completed, connecting with the Ho Chi Minh City – Trung Luong My Thuan route, the travel time from Saigon to Tay Do will be only 2 hours.

With a limited number of projects, especially apartment projects. Investors entering the market at this time will have the advantage of input prices with room for strong growth along with the momentum from key transport infrastructure projects.

Source