» » Long An Province attracts property traders nationwide

VNRE - Real estate investors have started speculating in lands in Long An Province adjacent to Ho Chi Minh City since the southern province’s infrastructures were upgraded to become a bridge between the southern hub and Mekong Delta provinces.

Property investors nationwide are paying attention to lands in the southern province of Long An as the real estate markets in HCMC and Hanoi remain frozen, experts say.

In Ho Chi Minh City, trading is very slow, and prices have fallen sharply. A flat in a newly-established district in HCMC could cost between VND12-15 million per square meter— marginally more than the construction cost.

Speculation is down throughout the country, but it’s up in Hanoi because land has always been scarce in the capital.

Properties in Long An Province are getting attractive as many new modern urban zones with low prices and high profit margin being built.

“The improvement of local infrastructures is boosting the province’s property market development,” a real estate broker in HCMC told Dau Tu Tai Chinh Newspaper.

The highway connecting the southern hub of HCMC to Tan An Town of Long An Province has opened for traffic since early last year and the work on another highway connecting Tan Son Nhat Airport in HCMC to the southern province has also been under construction.

Long An Province’s authorities planned to upgrade the province to the bridge between HCMC and other Mekong Delta provinces.

According to HCMC’s town planning in the period of 2020 – 2050, towns in Long An Province including Ben Luc, Duc Hoa and Tan An are expected to together become a economic corridor, which will tightly connect to HCMC.

Among the three towns, Duc Hoa will be an industrial center and Ben Luc will become the entryway of shipments delivered between Mekong Delta provinces and HCMC.

Therefore, many investors immediately speculated on the fact that the plan would push up property price at those towns.

Statistics from property enterprise Dat Xanh show the land price in Long An Province’s areas that are adjacent to HCMC increased by VND500,000 per square meter year-on-year.

“The property market in Long An Province is very potential. Lands in urban zone projects are affordable for even medium-income earners. The work on infrastructure at many urban zone projects has finished,” said Luong Tri Thin, general director of Dat Xanh.

Nguyen Hoang Chau, chairman of the Vietnam Real Estate Association, said lands in Long An Province were creating profit-taking opportunities in both short and long terms for property investors.

Reported by Nhat Hanh | Translated by Vu Minh | SGGP

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