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Compared to the real estate market in coastal areas such as Long An, Binh Duong and Dong Nai, Ba Ria - Vung Tau is considered an emerging market. However, according to the analysis of experts, Ba Ria - Vung Tau is a hot region in satellite real estate markets.
Infrastructure development is a "lever" to bring real estate of Ba Ria - Vung Tau "to take off".
Infrastructure "press" for real estate
Although the location is in the key economic quadrangle of the South, but in comparison with the provinces adjacent to Ho Chi Minh City such as Binh Duong, Dong Nai ..., Ba Ria - Vung Tau in previous years received little attention. .
According to economist Nguyen Tri Hieu, the first motivation to help Ba Ria - Vung Tau thrive in recent years starts from the story of a breakthrough in infrastructure development. Since the Ho Chi Minh City - Long Thanh - Dau Giay highway and Highway 51 expanded, the travel distance from Ho Chi Minh City to Ba Ria - Vung Tau has shortened half of the time compared to before.
Especially, coming here, when the Ben Luc - Long Thanh highway is put into use, it will connect the whole Western region with Dong Nai and Ba Ria - Vung Tau, the sea tunnel linking Can Gio - Vung Tau ... Jobs unfolding the connection is not only convenient with the provinces of the Southeast, but also very easy to connect with the Southwest. In addition, Ba Ria - Vung Tau also has Cai Mep International Port, which is one of 19 ports in the world capable of receiving super large ships; then the Long Thanh International Airport project was planned and gradually improved the shape; Bien Hoa - Ba Ria highway ...
In addition to infrastructure factors, according to the analysis of experts, Ba Ria - Vung Tau has an advantage compared to many other localities, which meets the factors of "natural weather, favorable terrain and harmony", which are local Only southeast of Ho Chi Minh City converges all elements to develop industry and tourism thanks to the beautiful coastline stretching hundreds of kilometers, mild climate, fertile soil.
It is expected that in the coming time, Ba Ria - Vung Tau will become a large "port city" in the country along with Hai Phong, Logistics center and important industrial center of the country. With a clear plan and fast pace of development, Ba Ria - Vung Tau in general and TP. Ba Ria in particular has proven its potential. Therefore, the real estate market in Ba Ria has constantly attracted large investors as well as high-end projects.
Land prices are constantly increasing and there is no sign of stopping
According to experts and investors, the development of tourism leads to the demand for housing; resorts and entertainment; Office leasing also increased strongly. It is likely that from May this year, the real estate market in Ba Ria - Vung Tau will really enter the fever. The market will witness strong growth of marine real estate.
Although the price of the premises has changed in the direction of 20% - 30%, even many areas along major roads such as 44a have increased by 50% compared to last year. But the clear and reasonable policies calling for investment by local authorities to exploit the advantages of a famous coastal city in the South have helped the number of land transactions to take place exciting. more active than ever. As noted by reporters, the market absorption rate reached 80% and the average price fluctuated between 12-15 million / m2
Mr. Nguyen Thai Huy, Deputy General Director of Sales and Marketing of Yeshouse Joint Stock Company analyzed, Ho Chi Minh City is under great pressure of urbanization, the mechanical population is constantly increasing, the land fund is scarce, making the Urban living becomes overloaded. This fact has formed a trend of centrifugation in the real estate market. Not only with low-income people, but even with high-income people, they move to the outskirts of Ho Chi Minh City to settle for a healthy life. In particular, the strong breakthrough in developing inter-regional connectivity has helped Ba Ria - Vung Tau have more development potential than ever.
In addition to the aforementioned causes, according to the analysis of most experts, it is no coincidence that Ba Ria - Vung Tau last time became exciting, but this also comes from the potential reality. Over time, Ba Ria - Vung Tau witnessed the rapid development of infrastructure, the demand for tourism and relaxation of the people is increasing, this land has quite a full range of elements. With favorable geography and soil, the industry "smokeless" - tourism is being promoted.
Explaining the cause of Ba Ria - Vung Tau land price continuously increased recently, Mr. Nguyen Thai Huy said that, in terms of price increase band, Ba Ria - Vung Tau has recently increased prices faster, but considering In terms of the common price level compared to neighboring areas such as Dong Nai and Binh Duong, the land price in Ba Ria - Vung Tau is still quite "soft."
“Recently, many investors are very worried about the continuous price increase of Ba Ria - Vung Tau real estate market, because they think the market is virtual fever. Therefore, many people stand outside the poll to wait for prices to level off. However, the price is still increasing and there is no sign of stopping. Many investors missed the chance, but there were also big winners who correctly guessed the market. Currently, the price of the secondary market is always higher than the initial price, so investors are profitable.
This has spurred investment inflows to Ba Ria - Vung Tau to find potential projects. Recently, on the front of street 44a, an urban area project is about to be announced. This project converges ecological factors and smart utilities, with great tourism potential. Therefore, although it has not been officially announced, the project has received a lot of attention from investors as well as those who are in need of accommodation, ”Mr. Nguyen Thai Huy said.
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The attractiveness of Vietnam's real estate market is explained by the potential for high profits, high-quality products, the Housing Law, which is relaxed and especially attractive prices when the same amount of money, instead of investing. 1 apartment in your country, when you come to Vietnam, foreigners can buy 3 apartments.Detail
For people of Ho Chi Minh City, Ba Ria - Vung Tau has long been a favorite tourist destination on every holiday or weekend. It is not only attractive by beautiful beaches but also a short distance, only about 2 hours by car. In particular, in recent years, this local tourism was upgraded by a series of high-class resorts in Ho Tram, Long Hai. In addition, the transport infrastructure connecting Ho Chi Minh City and Ba Ria - Vung Tau has also become more convenient. Thanks to all these advantages, real estate in general and the resort real estate segment in particular are thriving. This place has also become an attractive "playground" for businesses and individual investors.Detail