The Bac Son extended road project has a total investment of VND 2,100 billion, is over 9km long, designed with 6 lanes, with a cross-section of 61m. The project started in 2018, after many delays, the contractors have restarted the project since April 2025.
Recorded by PV on November 19, after a long period of construction, the project has had clear changes. At the construction site, workers are completing items such as roadbed, drainage system, trees, sidewalks. Some land bottlenecks are being cleared.
After many years of stagnation, the project's progress has created a strong boost for the regional real estate market. Land prices along both sides of the route as well as in neighboring areas have increased significantly.
Ms. Thanh Lien (a real estate broker in Thai Nguyen) said that along the route, there is basically auctioned land with many residential areas. Compared to 2024, early 2025, land prices are currently having a clear change.
"In previous years, many small plots of land on the road were only at 5 - 12 million/m2. However, in the past two months, when the project's progress has changed significantly and information about land auctions has spread, the price in many locations has increased to 10 - 30 million VND/m2", said Ms. Lien.
According to Ms. Lien, the increase in real estate around the project area is not uniform. Lots of large roads with business advantages have high prices, while many locations are far from the center, with small areas, and the increase is not significant.
Similarly, Mr. Nguyen Hoai Nam (real estate broker in Quyet Thang ward) said that the market will start to be vibrant from the third quarter of 2025. Investors consider Bac Son extension as a new development axis, so the trend of land acquisition occurs early, especially in sections with basic land.
"Compared to the same period in 2024, prices have increased. Lot 2 land, about 50 - 100m from the road, even increased by tens of millions of VND/m2, especially lots near major intersections such as To Huu or Cao Trang.
The main reason comes from the gradually improving infrastructure, expecting population and trade growth in the near future," said Mr. Nam.
According to brokers, the main driver for the rapid increase in land prices in a short time is the accelerated project progress. Many sections of the route have shaped urban space, attracting investors and people to learn. However, the transactions are currently mostly exploratory and expectation-based, and there has not been a local increase.
According to the assessment, the price level of around 10 - 30 million VND/m2 is likely to remain in the coming time, depending on the speed of completion of the intersections and the operation of the route.
Recently, Viet Bac Joint Stock Auction Company announced the organization of auction of land use rights for 16 plots of land belonging to the Bac Son extended road residential area project (from Cay Xanh hamlet, Quyet Thang commune to Cao Trang hamlet).
According to the organizing unit, the plots of land put up for auction have an area of 410m2 to 848m2, all of which are urban land with long-term use. The starting price is calculated by m2, the total value of each lot ranges from over VND6.6 billion to nearly VND10.8 billion.
