Quang Binh Real Estate: Opportunities thanks to growing tourism

Positive signals from tourism are strongly affecting the real estate market in Quang Binh, especially the segment of resort real estate and investment products such as land plots.


International visitors to Quang Binh increased sharply


Quang Binh is known as the locality with the advantages and potential of leading tourism development in Vietnam, voted by the New York Times as the most attractive destination in the world, with diverse and abundant tourism resources with world natural heritage Phong Nha - Ke Bang, beautiful beaches, Vietnam's longest coastal sandy strip, the land of spiritual masterpieces, the intersection and continuity of many cultures, creating values Unique and unique.


Quang Binh tourist destination contains global values with a system of thousands of caves such as Son Doong - the largest cave in the world, Khe Ry cave with the longest underground river in the world, Thien Duong cave is Asia's longest dry cave; is the main studio of the blockbuster movie "Kong: Skull Island"... So far, tourism in Quang Binh has gradually affirmed the position and brand of destinations on domestic and international tourist maps.


Quang Binh is blessed with many beautiful national and international landscapes


According to a report of the Department of Tourism of Quang Binh Province, as of mid-June 2019, tourists to Quang Binh were estimated at 2.45 million, up 20% over the same period last year, of which international visitors were more than 133,000 arrivals, up by 31%. Phong Nha - Ke Bang continues to be on the list of the most experienced destinations in Vietnam voted by the world's leading travel magazine Lonely Planet. Quang Binh is also a highlight of Vietnam's tourism promotion program in Western Europe in October 2018.


It is expected that in 2019, Quang Binh will welcome 4.3 million visitors, including 250,000-300,000 international visitors; The total revenue from tourists reaches 4,950 billion VND; the accommodation system is estimated to reach 1.14 days/person... aiming to make Quang Binh one of the top attractive destinations in Southeast Asia, the capital of adventure tourism and experience of Asia.


Undeniably, the remarkable growth of tourism has been strongly affecting the real estate market in Quang Binh, especially the segment of resort real estate and investment products such as land plots.


New land "attracts" investment capital


At the Investment Promotion Conference of Quang Binh Province held at the end of 2018, there were 66 investment projects in the locality with a total capital of 168,869 billion VND, including the presence of large enterprises such as Viet Group, Vingroup... are contributing to turning the beautiful unexploited coastal areas into potential "golden land".


Tourism and commerce development have led to the demand for real estate ownership in the dynamic "kingdom" of Quang Binh, especially in the central area of Dong Hoi city and Nhat Le - Bao Ninh coastal area.


According to a survey of market research units, by June 2019, the price of land in the downtown area has exceeded the threshold of VND 20 million/m2, doubling over the same period in 2018. With 2km to the sea, the land price in 2018 ranged from 15-20 million dong/m2, up to now 40 to 45 million dong/ m2 depending on the area.


Urban areas are planned and designed to improve the living standards for the people of Nhat Le beach

Real estate experts said that, in addition to the growth of tourism, there are three other important causes that make the Quang Binh real estate market hotter in recent years.


Firstly, Quang Binh is focusing on a system of high-class economic and industrial zones (EZs, IZs), strongly attracting investors and thousands of local, foreign and domestic workers, engineers and experts. about working, creating a great demand for real estate. Up to now, the Economic and Industrial Zones in the area have 118 investment projects with a total registered capital of over VND 45,000 billion.


Secondly, the Quang Binh transport system is changing day by day with a series of completed works such as the opening of Nhat Le 2 bridge connecting the center of Dong Hoi city with Bao Ninh peninsula; opening of the first international flight Dong Hoi - Chiang Mai; routes Dong Hoi - Hanoi. This is one of the main factors that make Quang Binh increasingly interested and sought by investors.


Thirdly, compared with the veteran real estate markets, housing prices in Quang Binh are still very cheap, only 20-30% of the land prices of the markets of Da Nang - Nha Trang - Phu Quoc.


Professor Dang Hung Vo, former Deputy Minister of Natural Resources and Environment, said: “We are familiar with the hot spots of the market such as Da Nang, Nha Trang or Phu Quoc. At some point, these markets will be saturated. And maybe these locations are no longer hot, but will move to other locations such as Phu Yen and Quang Binh. These areas are not much different in their potential and may become a faster growing area.”


With many favorable factors, many experts predict that Quang Binh real estate will boom and develop sustainably in the period of 2019 - 2023. This is an opportunity for real estate businesses and investors come to explore.


According to M.H