The convergence point of all opportunities.
Since the enactment of the 1993 Land Law, the Vietnamese real estate market has experienced several cycles of growth interspersed with periods of stagnation. These cycles, with periods of strong growth always dominating, are linked to macroeconomic fluctuations, public investment in infrastructure, and policy turning points. Among these, 2024 is considered the starting point of a new growth cycle.
2024 is expected to mark the starting point for a new growth cycle in the real estate market.
According to Dr. Nguyen Van Dinh, Chairman of the Vietnam Real Estate Brokers Association, as the new cycle begins, experienced investors will be able to acquire good properties at reasonable prices. Investment capital at this time will yield high returns with a long-term outlook of 3-5 years. He predicts that the market will start to rise from the third quarter of 2024.
Experts believe that a series of new policies related to real estate are currently in effect. Specifically, the Land Law, the Housing Law, and the Real Estate Business Law, effective from August 1, 2024, are expected to gradually remove institutional and legal bottlenecks in handling procedures, documents, and approving projects.
The new law also tightens regulations on land subdivision and sale, while weeding out incompetent developers, leading to a decrease in supply before recovering once the market truly absorbs the policy.
Besides policy impetus, the real estate market officially entered a new phase thanks to the role of infrastructure as a catalyst.
During the 2021-2025 period, medium-term public investment capital allocated for transportation network development is approximately VND 470,000 billion, nearly three times higher than the 2016-2020 period. Of this, VND 230,000 billion is allocated to Hanoi to accelerate the progress of Ring Road 4 and Ring Road 3.5, and to commence construction on seven bridges across the Red River… 2024-2025 will be the year of implementation for a series of projects that have been planned and prepared for many years, such as the Tu Lien Bridge.
The Tu Lien Bridge, connecting Dong Anh with the historic inner city, is one of Hanoi's key infrastructure projects, expected to begin construction in 2024.
According to the Ho Chi Minh City Development Research Institute, the planning stage can increase land prices by 8-10%. This rate will be 45-50% if the State invests in infrastructure or if investors develop urban projects.
"Accelerating the disbursement of public investment in key transportation projects plays a crucial role. This will be a direct driving force to restore confidence in the market and bring about positive changes in the real estate market," Mr. Dinh emphasized.
Shopping cart heats up the market in the new cycle.
Experts believe that now is a good time to own real estate before the market establishes a new price level under the impact of policies, planning, infrastructure, etc.
In the North, Vinhomes Global Gate is becoming a name attracting the attention of customers and investors. Initial information suggests that this is one of the new projects with a large number of units available on the Hanoi market. The project also possesses rare advantages.
Vinhomes Global Gate boasts a prime location, situated on the auspicious land of Co Loa, surrounded by four major rivers (Red River, Duong River, Ngu Huyen Khe River, and Hoang Giang River). Thanks to this, the project enjoys auspicious energy and timeless views, criteria increasingly valued by customers and investors.
Vinhomes Global Gate is also located in an area that benefits most from the infrastructure boom in the Northeast of Hanoi. Many key transportation projects are already in place here, along with new projects being invested in, including the Tu Lien Bridge – a new symbol of Hanoi, shortening the distance from the project to the city center to just 5 minutes.
The National Exhibition and Convention Center, one of the world's top 10 in scale, will be the bustling "heart" of Vinhomes Global Gate.
Located in the "heart" of Dong Anh – a district in the process of being upgraded to a city district – Vinhomes Global Gate will be a future hub for global trade activities. Taking on this mission is a crucial component of the project – the 90-hectare National Exhibition and Convention Center, one of the world's top 10 in scale, which has just commenced construction. With the mission of initiating a multi-billion dollar Expo economy for Vietnam, this center promises to welcome millions of entrepreneurs, businesses, and tourists from around the world, offering unlimited investment and business opportunities across various industries.
Like many other high-end urban developments by Vinhomes, in addition to its sustainable investment potential, Vinhomes Global Gate is also a prestigious place to live thanks to the presence of top-class amenities. This dual value is creating an attraction for investors and customers in Northeast Hanoi, generating excitement in the real estate market which is expected to enter a new growth cycle.
Source: https://dantri.com.vn/bat-dong-san/vinhomes-global-gate-ky-vong-khuay-dong-thi-truong-bat-dong-san-thu-do-20240912104124805.htm
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