In the second quarter of 2024, real estate transactions in Ha Nam province skyrocketed compared to the same period last year. According to investors, many people are ready to put down money, instead of just stopping at the exploration level like last year.
Ha Nam market is attractive but still has points to note
The heat of the real estate market is spreading more and more. 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.
Dau Tu Newspaper reporter had a quick interview with Mr. Tran Manh Son, a long-time investor in Ha Nam province, to learn more about the market developments. Accordingly, the soaring numbers mentioned in the recent report are not a surprise.
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| Phu Ly and Kim Bang areas are highly appreciated by investors. Photo: Nguyen Dong Son |
“After Tet, the number of people looking to buy real estate in Ha Nam has increased sharply, including both real estate buyers and investors. Overall, market sentiment is on the rise,” said Mr. Tran Manh Son.
In the land segment alone, this investor said that the Phu Ly and Kim Bang areas are attracting a large number of interested customers. The reason is that many large tourism, resort, and industrial park projects are located in this area.
“The price of subdivided land here fluctuates around 20-40 million VND/m2. This number is almost unchanged compared to last year. Besides, the residential land segment is also very 'hot' at the present time. The price of this product line is quite diverse, starting from only 2 million VND/m2,” Mr. Son shared.
According to some brokers in Kim Bang district, residential plots with alleys about 4 meters wide will cost less than 10 million VND/m2. Plots with alleys wider, allowing two cars to pass each other, will cost about 20 million VND/m2.
For plots of land located right on the national highway, the price can be up to more than 50 million VND/m2. The above figures are for reference only, the amount may change depending on the current condition of the land.
Notably, Mr. Tran Manh Son said that the red books in Ha Nam province have one difference compared to other localities. If buyers do not pay attention, this could be the cause of legal disputes later.
“The land use right certificate in Ha Nam province does not show the road through the property. Buyers will have to investigate the cadastral map to see the exact information. Many people have bought land in a mixed area for this reason. At first, they thought it was a common alley, but in fact it was just the neighbor’s land,” said Mr. Son.
Check out some new projects
According to a report from the Department of Construction of Ha Nam province, in the second quarter of 2024, local leaders granted construction permits for two projects, including a commercial service area combined with housing in Liem Chung commune, Liem Tiet commune (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 and 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.
In the report, the Department also pointed out the difficulties and obstacles of real estate enterprises in the process of developing projects in the locality. Notably, the information provided in the second quarter was almost similar to that in the first quarter. This shows that, for at least the past half year, the problems that enterprises have encountered have not been thoroughly resolved. Specifically as follows:
Regarding site clearance, most projects encountered difficulties because people with land within the project area did not receive compensation and demanded compensation prices higher than the regulations. Some projects encountered difficulties in moving graves.
In addition, units also have problems with capital, so the progress of project implementation is slower than approved.
Regarding legal policies, businesses still have a “headache” in carrying out legal procedures (adjusting investment policies, extending project implementation time, etc.); implementing legal regulations on investment, housing, and land (determining 20% land fund for developing social housing, etc.); calculating land use fees for projects, etc.
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