“Vingroup’s Entry Spurs Land Prices to Skyrocket: A Rare Seller’s Market in This Desirable Location”

Mong Cai is witnessing robust price growth in its border real estate market. Notably, this area has also attracted the attention of the industry giant, Vingroup, with their project, Vinhomes Golden Avenue.

In addition, Mong Cai is home to numerous other real estate developments, such as Vera Diamond City (Vinaconex), SGO Marina Mong Cai (SGO Group), ASC Mong Cai, Royal Riverside, Promexco, and KaLong Riverside City. As a result, the market remains vibrant with a strong presence of real estate brokers.

According to a survey by Batdongsan.com.vn, land near the Mong Cai border gate is currently offered at a price range of VND 200-300 million per square meter, depending on the location. Prime locations with dual frontages are valued at VND 300-350 million per square meter, comparable to land prices in central Hanoi. This price represents a 15% increase compared to October 2024. However, local brokers assert that very few landowners are selling in these prime trading spots.

In the Mong Cai land plot segment, prices are still on an upward trajectory, with the average price ranging from VND 25-40 million per square meter. Land plots in the city center of Mong Cai are priced from VND 80-120 million per square meter.

Specifically, land in Hai Hoa has seen an increase from VND 33-40 million per square meter at the beginning of 2024 to the current market price of VND 40-48 million per square meter. Over the same period, land prices in KaLong have risen from VND 27-32 million to VND 31-35 million per square meter. Similarly, land prices in Bac Son have increased from VND 25-27 million to VND 28-30 million per square meter, while land in Binh Ngoc has gone up from VND 14-18 million to VND 17-20 million per square meter.

The presence of numerous primary projects in the Mong Cai market has attracted a large number of brokers from Hanoi, Quang Ninh, and freelance brokers, leading to a slight increase in market heat after the Tet holiday. Consequently, transaction levels have also grown compared to the same period last year.

Along with positive signals and the growth of the land plot market nationwide at the beginning of the year, the Mong Cai real estate market has experienced a slight surge. However, according to real estate brokers, this surge is not strong enough to create a trend or a fever.

Nevertheless, the Mong Cai real estate market is assessed to have further growth potential. In addition to the influx of real estate businesses investing in the area, the market is also boosted by infrastructure and planning developments.

Specifically, the region benefits from three modes of transportation: road, sea, and rail, which foster economic growth, trade, and logistics. Regarding sea transportation, the Van Ninh super-port, with an investment of nearly VND 2,250 billion, is being expedited.

In terms of road infrastructure, the area boasts two vital international border gates, Mong Cai – Dong Hung and Bac Luan 2, facilitating ASEAN-China trade. Moreover, the Van Don – Mong Cai expressway shortens the travel time between Hanoi and Mong Cai to just 3 hours, opening up connectivity and boosting tourism, trade, and real estate.

Additionally, the city is supported by the Van Don International Airport (4E grade), connecting to Ho Chi Minh City, Danang, Tokyo, Seoul, and Shenzhen. In the future, Mong Cai will further thrive with the cross-border railway connecting to the national railway system.

With a solid infrastructure foundation and a range of quality projects from leading investors, the real estate market in Mong Cai is expected to witness price increases in the coming time.