Real estate market in the southern province of Long An becomes one of investors’ most attractive destinations, with land cost increasing day by day.
|A villa is under construction in a new residential zone in Long An Province’s Tan An District. Investors are pumping into lands in the southern province (Photo: Phan Hien)|
Investors should pump into property in Long An Province as prices remain very low, says Nguyen Vu Bao Hoang, deputy general director of property firm ThuDuc House.
Investors with small financial base can buy lands under property projects, which allow payment in installments, Hoang says.
Brokers say investors shun properties in Ho Chi Minh City, which are too expensive and have low profit margin.
Low-cost lands in neighboring provinces are their top pick now. Among the most attractive destination for property investors are Long An, Dong Nai, Binh Duong and Ba Ria-Vung Tau.
“Many big property enterprises in HCMC are pouring their money into the real estate market in Long An Province,” says Nguyen Hoang Chau, chairman of the HCMC Real Estate Association.
Chau also says that lands in Long An Province were creating profit-taking opportunities in both short and long terms for property investors.
Statistics show many large property projects with an area ranging from 300 hectares to 1,000 hectares have been carried out in Long An Province.
Analysts say properties in HCMC’s adjacent province become potential investments as they are low-cost and located in new residential zones, which have good zone planning and modern infrastructure.
An increasing number of newly-built highways also boost real estate markets in the provinces.
Sai Gon – Trung Luong Highway, connecting HCMC with Long An Province’s Tan An City and Tien Giang Province’s My Tho City, opened for traffic early last year.
Under-construction Tan Son Nhat – Long An Highway, connecting HCMC’s Tan Son Nhat Airport with Long An Province, is expected to boost the province’s economic and social development.
According to HCMC’s town planning in the period of 2020 – 2050, towns in Long An Province including Ben Luc, Duc Hoa and Tan An are expected to together become a economic corridor, which will tightly connect to HCMC.
Among the three towns, Duc Hoa will be an industrial center and Ben Luc will become the entryway of shipments delivered between Mekong Delta provinces and HCMC.
Therefore, many investors immediately speculated on the fact that the plan would push up property price at those towns.