At the end of September 2024, in Da Bac district, Hoa Binh province, the Hoa Binh - Moc Chau expressway project was started.
The Hoa Binh - Moc Chau expressway will be the premise for the formation of the Hoa Binh - Son La - Dien Bien expressway; combined with the external traffic network of Son La province with Hoa Binh province and the Northwestern provinces with Hanoi capital (via the Hoa Lac - Hoa Binh expressway) to create an expressway axis connecting the Northwest region with the Northern economic region, connecting to the Northeast border gate and Lach Huyen international seaport, reducing the load on National Highway 6.
It is worth mentioning that the construction of this highway has become a springboard for real estate in the Northwest region to take off.
Immediately after the Hoa Binh - Moc Chau highway started construction, a series of plots of land in the area surrounding the highway were put up for sale.
"Catching the wave of Hoa Binh - Moc Chau expressway infrastructure, the owner sells a villa in the center of Moc Chau Farm town, area 105m2.."; "After the groundbreaking ceremony of Hoa Binh - Moc Chau expressway, I have a piece of land to catch the wave of profitable investment, only 1km from the intersection.." - land sale ads are posted on all real estate groups, revolving around the area of the tens of thousands of billion dong expressway passing through.
Mr. Thieu Duc Van - real estate broker in Moc Chau - Van Ho area said that after the Hoa Binh - Moc Chau expressway started construction, real estate prices in Moc Chau and Van Ho area have fluctuated a lot.
In particular, some locations in low-lying areas such as Phieng Luong and Minh Quang communes have increased slightly from 5 to 10% depending on the location. The number of investors interested is also about 20 to 30% more than before.
Mr. Van said that currently, the price of Moc Chau real estate in the central area of Nong Truong town and Moc Chau town, the area along Highway 6 and the 31m subdivision area behind Muong Thanh hotel ranges from 50 - 60 million VND/m2. In the residential area around the 2 towns, it ranges from 5 to 20 million VND/m2 depending on the location.
At the exit area of Hoa Binh - Moc Chau highway, the price is about 1-5 million VND/m2, the land has available residential land.
Van Ho area, auctioned land in Van Ho District administrative center, price ranges from 7 - 12 million/m2. Land in the community, price ranges from 1 - 3 million/m2.
"The above prices have increased by 20-30% compared to the same period last year and are expected to increase sharply when the highway is completed and put into operation. At that time, large projects, especially large resort projects, will be invested in, helping to change the face of the Northwest region."
According to statistics from the People's Committee of Van Ho district, Son La province, in 2023, when the Hoa Binh - Moc Chau expressway project started, the district's budget revenue from land reached nearly 17 billion VND. From the beginning of 2024 to the end of August 2024, the district also collected more than 2 billion VND from land.
Of which, revenue from land use conversion in 2023 reached nearly 3 billion VND and from the beginning of 2024 to now reached nearly 1.9 billion VND. Meanwhile, in 2022, this figure only reached 117 million VND.
Leaders of the two provinces of Hoa Binh and Son La also expect that the investment in the construction of the Hoa Binh - Moc Chau expressway is expected by the Northwestern provinces to contribute to attracting investment in the localities through which the route passes, with the highlight being the Hoa Son bridge project with a length of about 1.2km, the largest cable-stayed main span in Vietnam, 550m long.
