Real estate in Can Tho welcomes growth opportunities

With its position as the "capital" of the Mekong Delta (MD), with the highest level of economic development and urbanization in the region, Can Tho is a "promising" market for real estate.

According to information from the Can Tho Department of Construction, in 2022, the whole city successfully transacted 8,237 land plots (an increase of 34% compared to 2021, reaching 6,108 plots), 2,785 individual houses and 1,196 apartments (5.4 times higher than in 2021 with 221 apartments).

Economic strength - the foundation that drives real estate

Real estate is closely linked to the need for a stable home, long-term ownership - a home passed down through generations in the family. Accordingly, localities with high urbanization, high population density, and strong economic development are the focal points.

According to data from the General Statistics Office, among the 5 centrally-run cities, Can Tho is the 4th locality in terms of GRDP growth rate in the first quarter of 2023 - reaching 4.02% (5.7 times higher than Ho Chi Minh City) and only behind Hai Phong (9.65%), Da Nang (7.12%), Hanoi (5.8%).

Bất động sản ở thật tại Cần Thơ đón đầu cơ hội tăng trưởng - 1 — Can Tho real estate increases its appeal in the residential segment thanks to the locality's high level of urbanization, high population density, and strong economic development (Photo: Shutterstock).

Previously, in 2022, Can Tho City had the highest GRDP growth rate ever - reaching 12.64%, ranking 6th in the country, 2nd in the Mekong Delta and 5 centrally-run cities; GDP per capita reached 85.99 million VND. Of which, the proportion is tilted towards the service sector, accounting for 52.47%; the industrial - construction sector, accounting for 31.03%. The economic growth rate creates growth potential for real estate in Can Tho.

Urbanization - The attraction of residents from industrial activities

Can Tho possesses many existing factors that are the premise for urban development: the economic center of the South, the most important traffic and trade hub in the Mekong Delta, high population density, and stable economic growth.

Can Tho is a locality with a population density 3 times higher than the national population density and 2 times higher than the Mekong Delta population density. Therefore, the real housing demand in Tay Do is recorded as very large and growing steadily according to the increase in the immigrant population.

Bất động sản ở thật tại Cần Thơ đón đầu cơ hội tăng trưởng - 2 — 8 industrial parks with a total area of over 2,300 hectares and 256 projects in Can Tho attract an abundant labor force to settle down and work (Photo: Can Tho Newspaper).

Can Tho City People's Committee has estimated and assigned relevant departments and branches to coordinate with the Department of Planning and Investment and the Department of Construction to complete the urbanization rate target of 74% in 2023. By the end of 2022, Can Tho's urbanization rate will reach 73.05%.

On the other hand, the demand for local housing is currently increasing thanks to the large number of people coming to study, work and live. The most typical is the abundant labor source for industrial activities.

The scale of industrial development attracts millions of workers, including experts, engineers, and workers, to work in industrial parks and clusters throughout the city. This group of immigrants has a great need for housing, promoting the demand for land, townhouses, and apartments in the locality.

High demand and limited supply

A representative of a real estate distributor in the area commented that with the growth in investment in Can Tho, the selling price of some projects increased by 5-10%, especially products priced under 2 billion VND with full legal documents and good liquidity. It is forecasted that the land market will remain an attractive segment in the Southwest region in general and Can Tho in particular in 2023.

Among them, Stella Mega City (legal name is residential area of Binh Thuy ward, Binh Thuy district, Can Tho city developed by KITA Group) is one of the outstanding real estate projects. This is a rare project that meets two important standards: airport urban area and city center urban area, contributing to changing the urban appearance in Can Tho.

Bất động sản ở thật tại Cần Thơ đón đầu cơ hội tăng trưởng - 3 — Stella Mega City is located in the administrative center of the district, oriented to become a model urban area in Can Tho (Project perspective image).

In addition to the green living environment factor, Stella Mega City is also the focal point connecting the economic "magnet" poles, and at the same time inherits investment in infrastructure such as air logistics ports, river ports, expanded highways, and the largest industrial park in Can Tho.

The project owns a "growth coordinate" thanks to its location adjacent to 3 routes: Dang Van Day - Vo Van Kiet - National Highway 91, conveniently connecting to neighboring provinces and cities. Stella Mega City in the future will become a bustling commercial gateway in the Mekong Delta region.

With a thorough investment in a diverse internal utility system, the Stella Mega City project developed by KITA Group is creating attraction in the market, becoming a notable choice for residents in the area.

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