As a city with the highest economic growth rate in the country, possessing modern transport infrastructure and a dense population, Hai Phong has become a magnet attracting investors from all over the world to invest in trillion-dollar mega-projects. With a very open space, Hai Phong is considered a "rising star" in the Northern real estate market.
The “steel levers” of Hai Phong real estate market
Hai Phong is the city with the second largest economic scale in the Red River Delta, after the capital Hanoi . In terms of industrial production alone, Hai Phong is in the top 5 localities with the largest industrial scale nationwide and is witnessing a rare strong growth momentum. In 2023, the city's GRDP increased by 10.34%, not only the highest in the country but also marking the 9th consecutive year of double-digit growth.
Thanks to the strong economic foundation, the Hai Phong real estate market has developed rapidly in many segments and locations in recent years, marking the presence of most of the domestic and foreign real estate "giants" with famous mega-projects. These include: Vingroup (with Imperia, Marina, Royal Island), Geleximco (with Dragon Hill), Flamingo (with Flamingo Cat Ba), Hoang Huy Group (with Hoang Huy Commerce, Hoang Huy Prukas), Doji Land (with Diamond Crown, Golden Crown)... According to the Hai Phong Real Estate Association, in the past 5 years, the totalinvestment in real estate projects in the area has increased more than 10 times compared to previous years, with an average annual growth rate of over 25%.
Hai Phong City's appearance is constantly improving day by day.
The emergence of large projects and large investors has profoundly changed the urban landscape, providing a large supply and creating continuous excitement for the market. According to the Vietnam Association of Realtors (VARS), even in 2023, a particularly difficult year for the real estate market nationwide, the Hai Phong real estate market still maintained its growth rate, becoming a rare bright spot nationwide. "This is the locality with the fastest and earliest recovery rate of real estate transactions and supply in the country with the presence of diverse segments in many new projects," said Dr. Nguyen Van Dinh, Chairman of VARS.
According to experts, the Hai Phong real estate market is still open to further development, because the city receives great orientation from the central government. Decision 323 of the Prime Minister on adjusting the general planning of Hai Phong to 2040, with a vision to 2050, has determined the goal of Hai Phong to become a leading city in the country in the cause of industrialization and modernization; a driving force for the development of the North and the whole country; with modern, smart, and sustainable industrial development; with a synchronous and modern transport infrastructure; a key center for logistics and tourism services; an international center for education, training, research, application and development of science and technology, and marine economy; striving by 2045 - 2050, Hai Phong will have a high level of development in the group of leading cities in Asia and the world.
With that big orientation, Hai Phong is speeding on the journey of synchronizing development plans, investing heavily in infrastructure, and modernizing urban transportation. This is considered an important lever to increase the value of the city's real estate products.
Another important driving force for the growth prospects of Hai Phong real estate value is population. According to statistics, the city's population currently reaches more than 2 million people, higher than most provinces and cities in the same region; population density reaches 1,358 people/km2, 4 times higher than the national average. Notably, Hai Phong's immigration rate reaches 5.9%, the highest in the Northern coastal region. In particular, the city attracts a large number of domestic and foreign experts to live and work. This has increased the purchasing power of real estate products, especially high-end real estate, thereby bringing product prices to a new level and is forecast to continue to grow in the future.
Kien An District - A big bright spot
In the development of Hai Phong real estate market, Kien An district has emerged as an important location and role, as it is located in the south of the city center, converging waterway and road traffic routes and receiving the wave of movement of goods and residents.
Planned as a new urban development area associated with an international maritime service center; a commercial and financial center of the Northern key economic region; an industrial, tourism , entertainment, sports, education, healthcare , science and technology center of the Northern coastal region, Kien An district and neighboring areas are oriented to become an international maritime city.
Thanks to such a large-scale planning, Kien An is witnessing a major change in infrastructure and traffic with the city expanding investment in roads. Notably, Ring Road 2 connecting to Bui Vien with the highlight at the intersection being a 250m long, 25m wide overpass with 6 lanes.
The above favorable conditions have helped Kien An become a bustling trading "base", with bustling business activities, opening up great opportunities for real estate projects, especially commercial townhouse projects to be quickly exploited and generate sustainable profits.
Golden Point complex urban area in the center of Kien An district is about to launch
The highlight of Kien An is the upcoming Golden Point Complex Urban Area project invested by Van Phuc Dien Real Estate Investment and Development Company Limited. The project is highly appreciated for its prime location, located at the prosperous intersection between 65m Bui Vien Street and 40m Thoi Dai Avenue along the Ring Road 2.
From the project, residents only need 5 minutes to cross Bui Vien bridge to reach the city center and easily access urban facilities such as schools, hospitals, supermarkets, administrative offices, stadiums, etc. as well as travel to the most dynamic economic areas of Hai Phong. Thanks to that, the project is expected to become a destination for goods and passengers from all over.
Investors assess that with its rare location, along with the investment and completion of Kien An district's traffic infrastructure, Golden Point will certainly become a "golden spot" for business development and has great potential for value growth, especially in the context of the Hai Phong real estate market still establishing a solid upward trend.
NL
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