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An Impressive Comeback
In recent years, Bac Giang has been one of the fastest-growing markets in the North, especially in the industrial real estate segment, thanks to the “invasion” of foreign enterprises under the impact of the wave of international investment relocation. Along with this, other segments such as land, villas – adjacent houses, and apartments have also seen impressive growth.
Going through the period of 2022 – 2023 depression due to the common difficulties of the country’s market, the Bac Giang real estate market has recovered very quickly since the beginning of 2024. According to statistics from the Bac Giang Real Estate Association, in the first quarter of 2024, there were an estimated 3,400 real estate transactions through notarization, a significant increase compared to the same period last year. In terms of price levels, in almost all segments, the average selling price of products increased by 10 – 15% compared to the “bottom” of 2023.
Bac Giang Real Estate Attracts Investors
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According to Mr. Le Dinh Chung, General Director of SGO Homes, real estate transactions in Bac Giang have been especially good since April 2024. “We sell here, sometimes selling more than 100 units per month. The selling price of products has generally grown quite well compared to the bottom of the previous period, and some positions in the city center have even recovered to old peaks.”
Notably, Mr. Chung said that the Bac Giang auction market from the beginning of 2024 to now has been very vibrant. Auction land prices have continued to grow, and if at the beginning of the year, the winning price was only VND 50-100 million/lot higher than the starting price, then by April-May, the winning price was 25% higher than the starting price. It is worth noting that the auctions attract the participation of many investors from all over.
Realistically, in the first half of 2024, there were many record-breaking auctions in Bac Giang. For example, the auction of 65 land plots in Viet Yen town on May 15 had a total starting price of VND 93.9 billion, while the winning price was up to VND 198.8 billion, a difference of up to VND 104 billion.
The auction organizer said that the number of dossiers and customers participating in the auction was usually very high, with nearly a thousand dossiers for just a few dozen land plots. Especially, not only local customers but also many investors from other provinces participated in the land auction in Bac Giang.
In addition to auction land, other segments such as commercial housing and social housing have also witnessed improved liquidity. Typical examples include the Vinhomes Skypark project, which has almost sold out, or the Evergreen Bac Giang social housing project, which has sold about 600 units to eligible buyers.
Mr. Vu Kim Giang, General Director of Hai Phat Land, evaluated that most real estate segments in Bac Giang have good purchasing power. “Land in urban areas is trading very well; we sold about 200 land plots in just two months. Apartments are also selling well because they can be rented out at reasonable prices. Although not as popular as land, low-rise houses still have liquidity, and their commercial exploitation ability is also better than before.”
Investors’ Priority Trends
The strong recovery of the Bac Giang market across many segments has opened up a series of opportunities for investors. However, this also poses an “investment equation” of where to invest to achieve the best profits.
In reality, like anywhere else, investors in Bac Giang also prefer projects in the city center. Because this area possesses all the advantages of a leading project: a prime location, synchronous infrastructure, modern planning, and the ability to quickly connect to administrative, economic, cultural, and entertainment “strongholds.”
In addition to the above factors, Mr. Le Dinh Chung, General Director of SGO Homes, also emphasized that investors in the current period are particularly interested in the legality of the project. Projects that are complete and legally compliant, with red books, are always the top priority. This explains why auction land and projects developed on auction land are so attractive to buyers.
A typical example of a project developed on auction land in Bac Giang city that is currently attracting great attention from investors is The Terra – Bac Giang by Van Phu – Invest. The project is located in the southern urban area of Dinh Ke ward, where the new administrative center of the city is located. Surrounded by arterial roads, it offers convenient connections to the most dynamic economic areas and abundant amenities such as the walking street, GO! supermarket, square, stadium, Hoang Hoa Tham park, etc. This diamond location enhances the value of the product by providing a foundation for a convenient life and profitable rental business opportunities.
Another notable point is that the entire project only has 66 single-detached villas, 43 low-rise adjacent lots, and 688 apartments in two twin towers. The limited quantity is one of the fundamental factors that help the project’s prospects for increasing value over time.
 The Terra – Bac Giang Project by Van Phu – Invest
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According to industry experts, the Bac Giang real estate market is entering a new growth cycle, supported by economic development, increasing FDI attraction capabilities, and rising purchasing power of local residents.
In the context of the largest northern market, Hanoi, facing a severe shortage of supply and peak price levels, investment opportunities are exhausted. Investment capital is “migrating” to more potential destinations. With its superior advantages, Bac Giang is becoming the destination for investment capital. This will further enhance the profitability of real estate investments in the province, and The Terra – Bac Giang is an ideal choice.
