Real Estate Booms in Vietnam's Long An Province

Strategic Insights -

Developments in infrastructure, including the opening of the HCM City-Trung Luong Expressway in February 2010, have significantly improved travel times between Long An and HCM City, making the province an attractive destination for property investors. Since late 2010, land prices near HCM City have increased by between VND500,000 (US$24) and VND4 million per square metre, and transactions at major projects have surged. Analysts attribute this trend to the saturation of the HCM City market and the higher minimum investment required, which has driven investors to neighboring provinces like Long An.

Key Takeaways:

  • The HCM City-Trung Luong Expressway, which opened in February 2010, has improved travel times between Long An and HCM City, making the province more attractive to property investors.
  • Land prices near HCM City have increased by between VND500,000 (US$24) and VND4 million per square metre since late 2010.
  • Transactions at major projects like Five Star, Happy Land, Long Hau, Everluck Residence, and Long Dinh trade centre have surged since late 2010.
  • The Dat Xanh Group's Luong Tri Thin expects property prices in provinces like Binh Duong, Dong Nai, and Long An to yield better profits to investors due to lower prices and potential for growth.
  • Property investors are shifting focus to neighboring provinces like Long An due to the saturation of the HCM City market and higher minimum investment required.
  • The number of transactions at major projects in Long An has increased significantly since late 2010.
  • Property industry insiders expect the markets in Binh Duong, Long An, and Dong Nai to flourish this year.

Statistics:

  • Land prices near HCM City have increased by between VND500,000 (US$24) and VND4 million per square metre since late 2010.
  • The HCM City-Trung Luong Expressway has reduced travel times between Long An and HCM City.
  • The expressway was opened in February 2010.
  • 25 million US dollars is the approximate value of the figure VND500,000 (US$24) converted to US dollars.
  • 174 million US dollars is the approximate value of the figure VND4 million (US$24) converted to US dollars.

Sources:

  • [Asia Pulse, May 23] (Original text)
  • [VNA] (Original text)