Quang Binh real estate picture 2019: The time of the foundation land "crowned"

Quang Binh resort real estate has just been developed at an early stage (Source: Internet)

Attraction of new markets

If before 2017, Da Nang and Nha Trang were considered the focal points of the Central real estate market, from the second half of 2017 onwards, this focus is shifting to neighboring provinces like Quang Binh, Quang Ngai, Phu Yen, Binh Dinh... where there is a large land fund with many potentials and advantages to develop real estate for sea tourism. In particular, Quang Binh - known as the "kingdom of cave" with the second longest coastline in the Central region (116 km) is fully converging to become the new focal point of the market. Over the past two years, Quang Binh real estate market has been developing vibrantly with a plentiful supply mainly from large tourism projects located near the sea. This appearance makes Quang Binh market expand its attractiveness, no longer encapsulated in the local area, but increasingly attract investors from all over the country, leading to a rapid rise in land prices here.

According to a recent survey of a distribution unit in Central Vietnam, the area around the central twin tower project in Ho Chi Minh City. Dong Hoi, the price of land has exceeded the threshold of 20 million VND/m2, doubling when compared with the same period in 2018. 2km from the city center towards Nhat Le coastal resort and Bao Ninh sea, the land price increased from 15 - 20 million VND/m2 in 2018 up to 35-40 million VND/m2 depending on the current time.

If the comparison can be seen, the increase price band of Quang Binh real estate is now similar to Da Nang 4-5 years ago. At that time, a lot of lands at My Khe beach was only 37 million VND/m2, but so far they has increased nearly 7 times. Also a few years ago, the price of land in Dong Hoi was only a few million VND/m2, after the entry of many large projects, the land price increased to 40 million VND/m2 in beautiful locations. Not only that, the suburban area connecting convenient transportation with the city also received an impressive price increase cycle. For example, around the area of Hai Ninh commune, Quang Ninh district, land plots near projects with perfect infrastructure, reputable investors are always in the sights of many investors.

Notably, since FLC Group implemented the construction of Quang Binh FLC project and the road connecting National Highway 1A to Hai Ninh Sea, the price of land opposite to the project has increased about 5 times: from 2 - 4 million VND/m2 at the beginning of 2018 to 10 - 15 million VND/m2 at the beginning of 2019 and there is no sign of stopping. 4 - 5 km away, residential land prices and planned land in Hai Ninh and Hai Thiep communes increased from 200 - 500 thousand VND/m2 to 2.5 - 5 million VND/m2.

The emergence of big tourism real estate projects pushed Quang Binh land price up (Source: Internet)

The "budding" potential

There is a rapid increase in amplitude, but Quang Binh's land price is still quite low compared to cities such as Da Nang and Nha Trang while the tourism potential and development of Quang Binh is very large and is not "awakened" yet. Not only possessing the natural pristine beauty of the sea, Quang Binh also has a mysterious and wonderful cave ecosystem that is gradually being discovered. As a result, tourism activities of the province over the past two years have prospered, increasing the number of tourists in 2018 to the highest ever, with 3.9 million, up 18% compared to 2017.

Particularly in the first quarter of 2019, the total number of tourists to Quang Binh is estimated at 895,000 arrivals, an increase of 12.6% compared to the same period of 2018. With the current growth rate, by 2020, Quang Binh will welcome about 5,5 million visitors, becoming one of the major tourist centers of the Central region. The transportation system of Quang Binh is also changing in a synchronous direction, a series of key works completed such as: connecting Nhat Le bridge 2 connecting the city center. Dong Hoi with Bao Ninh peninsula; opening the first international route Dong Hoi - Chiang Mai; Recently, Bamboo Airways has just opened the flight of Dong Hoi - Hanoi; Domestic flights from Dong Hoi were also boosted by airlines. Along with that, many projects about to renovate and expand arterial roads, upgrade airports... are being proposed and implemented by the province.

Tourism infrastructure developed, Quang Binh became a "promising land" to attract famous local real estate enterprises. As in August 2018, the province granted investment certificates to 66 projects with a total capital of US $7.34 billion. Including many complex projects, large-scale resort tourism complex invested by reputable corporations has been implemented steadily. Some completed projects initially created a positive signal for the tourism industry, for example, a continuous golf course project in Quang Binh FLC complex of nearly 2,000 hectares, with a total investment of VND 20,000 billion, 36 The first golf hole went into operation from July 2018, becoming a new level of destination for many visitors.

In addition to infrastructure, many modern and unique recreational facilities and entertainment facilities are also being focused on by investors such as 5-star hotel, sand park, night zoo, marina... with a view to bringing new tourism appearance, helping real estate here increase more value in the long term. 

According to Nam Ha - Nhip Song Kinh Te