Surprised with Long An's Real Estate market

Having a favorable location next to Ho Chi Minh City, convenient traffic routes, development of transport infrastructure, a wave of investing in industrial parks, etc. Long An’s real estate market has become surprisingly exciting in the past months.

Long An Real Estate driving investors to urban land

Ho Chi Minh City has proposed the extension of Vo Van Kiet Boulevard (Ho Chi Minh City) to connect with Long An. Besides, the two Departments of Transport have also agreed to prioritize the investment in 23 essential routes connecting the two provinces, among those, 12 existing routes will be expanded, 8 planned routes will be carried out and 3 extra routes will be added.

In particular, the proposed extension of Vo Van Kiet Boulevard (Ho Chi Minh City) to Hai Son - Tan Do Industrial Park (Duc Hoa district) will open up further opportunities for socio-economic growth development and particularly, real estate development along the main roads of Long An.

With a central location connecting Ho Chi Minh City and the Mekong Delta, in addition to the strategic components including transport infrastructure and industrial park, Long An has become one of the most interesting markets for real estate investors. This ignites the strategic acquisitions of additional land by many domestic real estate giants such as Vingroup, FLC, Nam Long, Him Lam, Dat Xanh, Thang Loi Group, Tran Anh Group, etc., causing this market to boom in the recent time. It is also worth noting Nam Long’s in-progress Waterpoint township.

The market also draws an increasing demand to explore and seek investment opportunities. According to Batdongsan.com.vn’s latest market report, Long An was the most searched province in the South with this quarter’s result increasing by 54% compared to the last quarter. Townhouse and duplex villas are most interested.

The low-rise house segment, which is priced from VND 2.6 - 2.8 billion per unit has the biggest attention. In some areas such as Duc Hoa, land plots, and residential lands are priced at VND 6 to12 million per m2. In Can Giuoc, townhouses and land are priced around 13.5 to 22 million VND per m2. In Can Duoc particularly, the attention is mainly paid to townhouses, private houses and residential land in the center of Can Duoc wit a selling price of approximately 15 to 26 million, due to the limited supply of project land. Besides, Can Duoc is also the new prominent region to invest in Long An.

According to experts, the factors driving the interests to Long An market are transportation projects and infrastructure.

A lot of potential pushes for real estate prices

In addition to the favorable location, Long An has streamline connections with other provinces thanks to the synchronous transportation system. Do Thi Nguyet Anh, Sales Manager at Savills Vietnam, believes that the increasing interest in neighboring provinces of Ho Chi Minh City such as Long An and Dong Nai, is the result of the added values as a series of infrastructure projects will be completed in the next 3 years. In Long An, some major routes are expected including Ben Luc - Long Thanh and Ben Luc - Hiep Phuoc highways, extended Nguyen Huu Tho - Nguyen Van Tao boulevards, etc.

On top of that, the development of Long An industrial parks is attracting huge investment into the province and driving the housing demand upward. Long An currently has 32 Industrial Parks with a total area of more than 11,500 hectares, added to the overall planning by the Prime Minister. The occupancy rate of existing Industrial Parks is almost 87%.

Long An aimed to boost the development of infrastructure and urban areas in 2020, in particular, towards green and sustainable models. Therefore, the province has approved many large-scale industrial zones such as Viet Phat Industrial Park and Urban Area (Thu Thua District, 1,800 ha), Duc Hoa III - SLICO Industrial Park (Duc Hoa District, 196 ha), etc.

Another reason is that the average land price in Long An is currently lower than in other neighboring provinces of Ho Chi Minh City. Indeed, Batdongsan.com.vn’s report indicates that in Binh Duong, the average land price is about VND 13.8 million per m2, townhouses and villas’ prices are about VND 40-60 million per m2, in Dong Nai, land price is about VND 8 million VND per m2, townhouses and villas’ prices are about 35-50 million VND per m2. While in Long An, the average price is only 50%, land price varies between only 6 and 6.7 million VND per m2 and land in central location is priced from 18 to 30 million VND per m2.

(Nguồn: CafeF)