According to the reporter of Lao Dong Newspaper, in the days leading up to the merger of the three provinces of Hoa Binh, Vinh Phuc and Phu Tho into the new Phu Tho province, the real estate market in Hoa Binh City has begun to have notable movements.
Once the administrative center of an independent province, this city is facing a major turning point in boundaries, creating a new wave of interest from investors.
Ms. Thu Huyen - a real estate broker in Hoa Binh City said that the number of searches for information about land, townhouses, and commercial real estate in Hoa Binh tends to increase in May and early June 2025. However, the number of successful transactions did not increase accordingly. Many customers choose to stop at the survey step or deposit slowly, instead of deciding to buy a fraction.
Areas that were once considered the focus such as Thinh Lang, Tan Thinh, Dan Chu wards or the area along Tran Hung Dao extended road are recording a slight increase in selling prices, ranging from 5 - 10% compared to the beginning of the year.
However, this increase is considered an expected trend, not clearly reflecting the real fluctuations in market demand. Land in areas bordering the central border still has prices at the old level, the number of listings is higher but the book closing transactions have not exploded, said Ms. Huyen.
Similarly, Mr. Hong Thai - a real estate broker in Hoa Binh said: "The real estate market in Hoa Binh City has not had a breakthrough because the planning and legal guidance after the merger are still unclear, causing investors to hesitate and wait for more specific information to avoid risks".
According to Mr. Thai, although the current market is still cautious, long-term expectations for Hoa Binh real estate are reasonable. Becoming a part of the new Phu Tho province with an administrative center in Viet Tri city could open up opportunities for reallocation of investment resources, especially in transportation, tourism and supporting industries.
Hoa Binh City, with its strategic location as the gateway to the Northwest, will benefit if it is well connected in the overall development map, said Mr. Thai.
On the other hand, a significant number of people in Hoa Binh are worried. Mr. Nguyen Quang Dang - the owner of a house on Tran Hung Dao street - shared: "My family planned to sell the house to move to Hanoi to live, but since the merger information was released, there have been many people asking to buy, many people paid lower than before".
According to Mr. Dang, many Hoa Binh people are "hunting" for real estate in Viet Tri City quite a lot. They sell investment land in many places to accumulate money to collect land in Viet Tri with the purpose of serving the work after the merger of provinces, and at the same time being an opportunity for speculation.
Talking to reporters, Mr. Nguyen Quang Thu - Director of the Land Registration Office of Hoa Binh City said: "Recently, the number of new sales records has been very small, mainly due to fluctuations in procedures such as extending land use, updating citizen identification cards, transferring old sales names...".
According to Mr. Thu, real estate transfer activities are on the decline, the number of successful transactions is not much, reflecting the clear stagnation of the market.
