Infrastructure boosts real estate value in the Northeast region
A typical story is the West West Lake axis with the formation of a series of important connecting traffic routes that have brought the real estate market in the area to a new level. According to VnExpress, many real estate segments such as apartments, villas, and shophouses in the West of West Lake have increased in price by 70-100% in the past 4-5 years.
It is worth mentioning that while the West Lake axis has a long history of development, the new focal point of the Hanoi real estate market is the Northeast region, which has only recently begun to be strongly exploited. In fact, the Northeast region, with Dong Anh as its representative, has been laid with solid infrastructure foundations in advance, creating a springboard for an explosion in the new cycle.
A series of key traffic routes such as Thang Long - Noi Bai Expressway, Nhat Tan - Noi Bai Expressway (Vo Nguyen Giap Street), National Highway 5 extension, National Highway 3... along with bridges: Thang Long, Nhat Tan and Dong Tru become the strings that stretch the development momentum in the Northeast and Dong Anh. Dong Anh residential land prices always top the market in terms of "hotness". Data from Batdongsan.com.vn shows that within 5 years, from the first quarter of 2014 to the first quarter of 2019, Dong Anh land had the highest increase among the markets in the suburbs of Hanoi, reaching 61%.
New levers of infrastructure and planning continue to stimulate the comprehensive growth of the Dong Anh market in particular and the Northeast region in general. From a primitive market with mainly land plots and auctioned land, the Northeast region is undergoing profound changes in product structure with the synchronization of global-scale projects, internationally positioned such as Vinhomes Global Gate metropolis, Smart City, Kim Quy park, planning of the new Tam Xa urban area in the future...
Commenting on the potential of the Northeast market, Mr. Nguyen Van Dinh - Chairman of the Vietnam Real Estate Brokers Association said that developing the two banks of the Red River and developing to the Northeast is a strategic vision in the development of Hanoi. Strongly invested infrastructure and well-planned metropolitan projects, promoting the living environment with landscapes and utilities, creating a new urban appearance and creating excitement for the Northeast market. The Northeast region is and will be the "New Coordinates" of the Capital's real estate, attracting many domestic and foreign investors to pay attention, approach and seek investment opportunities.
Tu Lien Bridge – a turning point for the Northeast real estate market
Besides the main traffic routes, Tu Lien Bridge is one of the key traffic projects that created a historical boost for the Northeast real estate market. According to the plan, Tu Lien Bridge has a main span across the Red River, connecting the west bank of the Red River along Au Co - Nghi Tam road in Tay Ho district with the east bank of the Red River in Dong Anh district.
When Tu Lien Bridge is completed and put into operation, it will help shorten the distance from Dong Anh to the city center, the travel time is only 5 minutes. Creating a vital traffic system, connecting many key areas. The presence of Tu Lien Bridge in the near future and the increasingly clear shape of Vinhomes Global Gate metropolis have resonated with the value of real estate in the Northeast.
The latest market data from Batdongsan.com.vn provides remarkable information: Dong Anh real estate ranks first in terms of user interest with a growth of 104% compared to the same period in 2023. During the same time period, Dong Anh land prices also increased by an average of 24% - the highest increase in the Hanoi land market.
The story of the Northeast development axis in this period reminds us of the development process of Thu Thiem area (HCMC), where 5 years ago, the starting price of an apartment was 120 million VND/m2, but now, the strong acceleration of infrastructure has established the transaction price of Thu Thiem apartments to exceed 200 million VND/m2.
With its existing potential, the Northeastern development axis of Hanoi can completely become a Thu Thiem of Hanoi, especially with the appearance of leading real estate giants in the Vietnamese real estate market. Participating in this, the project development unit MIK Group has for the first time launched the most premium version of the Imperia product line called Imperia Signature. The project promises to create a new symbol, a classy place to live, gathering a global community of residents, and at the same time bringing investment opportunities with the potential for spectacular price increases when key traffic projects come into operation.
