Enhancing urban stature, promoting regional connectivity
The merger of Bac Giang and Bac Ninh into Bac Ninh province has opened a new chapter in the development process of the expanded Capital Region.
This event not only has the meaning of management and administration, the event is also a "historic boost" for the local socio-economy, especially the real estate market in the old Bac Giang - which is being considered a new growth pole of the Northern region.
With a total area of about 4,800km2, reaching 94.3% of the standard; the population size exceeds 3.6 million people, reaching 258.5% of the standard. The newly formed "super province" of Bac Ninh will create a strategic industrial and service growth pole for the capital region.
This not only enhances the stature of the urban area but also helps strengthen competitive advantages in attracting investment, promoting the synchronous development of infrastructure, logistics, industrial parks and satellite cities.
restructuring boundaries will also lead to adjusting regional planning, synchronizing connecting infrastructure, strongly developing important economic corridors such as National Highway 1A, National Highway 17 and inter-provincial railway lines.
This creates momentum to promote the shift in the real estate market, in which the old Bac Giang city area (now in Bac Ninh province) is being considered a new investment focus thanks to its large land fund, high potential for price increases and strongly upgraded infrastructure.
The real estate market accelerates to welcome a new wave
One of the clear orientations after the merger is the formation of modern satellite cities, ensuring the following factors: connecting transportation, adequate urban services, green living space and synchronous social infrastructure. The old Bac Giang khu vuc - with potential land funds, new planning capabilities and open local policies - is converging and meeting the conditions for development according to this model.
In the context of provinces on the outskirts of the capital gradually running out of land and high population density, the emergence of new "development poles" such as the western area of the old Bac Giang city (now in Bac Ninh province) is the solution to the problem of population dispersion, investment extension and reallocation of regional development resources.
Urban expansion, methodical planning, and key infrastructure projects are leading to a wave of shifting investment capital flows, significantly increasing housing and service demand.
In particular, compared to Hanoi's satellite areas such as Gia Lam, Dong Anh or Hoa Lac, the real estate price level in the West of the old Bac Giang is still quite reasonable, with great potential for price increases and has not been over- exploited. Open up opportunities for medium and long-term investors, especially in the context of the approval of new planning policies after the merger.
According to the assessment of the Vietnam Association of Realtors (VARS), Bac Ninh province is one of the localities with the hottest real estate market with the story of mergers in recent times (along with Ninh Binh, Hai Phong, ...).
Since the beginning of March, selling prices and transaction volumes have increased, many places have established new price levels. Therefore, the merger of Bac Giang and Bac Ninh will lead to adjustments in regional planning, promoting the formation of model satellite cities.
Land prices in this area are still at a reasonable level compared to the potential, and are supported by increasingly complete connecting infrastructure. The mentality of "going first" is spreading in the investor community, creating a new wave in the local real estate market.
