Which locality currently has the highest real estate prices in the country according to The Global City's statistics?

January 24, 2022 | NEWS

The Global City - 10 provinces with the highest price fluctuations are Hanoi, Ho Chi Minh City, Binh Duong, Da Nang, Hai Phong, Long An, Ba Ria - Vung Tau, An Giang, and Bac Giang, respectively.

According to the Vietnam Association of Realtors (VARS), Vietnam's real estate market is the most dynamic and dynamic in Asia, with an average growth rate of 15% per year.

Real estate is forecasted to have a positive outlook in the next 20 years as urbanization remains low and is taking place strongly, the economy maintains a high growth rate, and basic infrastructure has plenty of room. for growth.

The connected infrastructure system is a healthy driving force for the market. Over the past time, real estate prices have continuously increased despite Covid-19. According to VARS, prices fluctuated strongly in many localities, showing that the urbanization process is taking place in balance.

According to VARS, the 10 provinces with the highest price fluctuations are Hanoi, Ho Chi Minh City, Binh Duong, Da Nang, Hai Phong, Long An, Ba Ria - Vung Tau, An Giang, and Bac Giang, respectively.

In Hanoi, in the past year, the supply of residential real estate was scarce due to the slow speed of project approval. 80% of products offered for sale are inventory from previous years. Apartment prices were stable or increased slightly, while housing prices increased sharply by 20-30%. Local outbreaks of land fever have taken place in the suburbs, especially in districts where information is available to the district.

Hoa Binh, Vinh Phuc, and Bac Giang are the three provinces with the most positive signs of recovery in the residential real estate segment when investors look for an alternative source of Hanoi. In particular, Bac Giang is a province witnessing a strong urbanization rate with the development of the industrial real estate segment.

With Hai Phong, the highway connecting the northern economic centers including: Hanoi - Hai Phong - Quang Ninh has attracted more investors looking for opportunities with real estate in this province.

Ho Chi Minh City witnessed a decrease in both supply and demand in the segments of land plots, apartments, townhouses/villas. The East area leads the supply of apartments, townhouses/villas. Suburban districts such as Binh Chanh, Cu Chi, Hoc Mon, and the former district 9 lead the supply of land plots.

Although supply is higher than demand, all segments recorded an increase in prices compared to 2020. This trend is forecasted to continue in 2022.

The development of Thu Duc city and rapid urbanization have also helped Dong Nai develop strongly. With a strong urbanization rate and favorable location, this market, along with Long An and Binh Duong, are considered as new stars in the real estate market.

Looking at the real estate market over the past time, Deputy Minister of Construction Nguyen Van Sinh assessed: Real estate prices have continuously increased, in which housing, especially in urban areas, is too high compared to the average price. equal to the general income of the people.

Real estate prices in some areas and segments, especially land plots, increased rapidly in a short time due to unclear information on administrative planning from districts and towns to districts and cities; on investment policy on construction of new urban areas, tourist areas, investment in airport construction. Since then, leading to speculators and brokers taking advantage to blow prices for profit.