According to the Hai Phong Real Estate Association’s (HpREA) H1 2024 real estate market report, the real estate market in Thuy Nguyen district saw the most notable transaction volume in April compared to the rest of the year. Prices recovered with a slight increase of 5-10%, although most areas are still 10% below the peak of Q1 2022.
The supply of products in Q2 2024 increased from Q1 due to land subdivision, land auction, and primary market sales. Notably, Vinhomes Royal Island was the most prominent project launched in the past period. The upcoming project, The Centric, developed by Masterise Homes, is also attracting investors’ attention.
Overall, in the first half of the year, products priced below VND 1 billion and those meeting actual housing needs around the administrative and new district centers maintained liquidity and performed well in transactions.
In addition, HpREA assessed that local brokers have become more professional, and the Thuy Nguyen real estate market has also attracted many brokers from all over to work on projects here.
Predicting the real estate market trend in Thuy Nguyen in the coming time, HpREA said: “The Q3 market will be sideways. By Q4, the market will improve and create a hot momentum for early 2025.”
According to the Association, Thuy Nguyen has many advantages, including a large population, abundant remittances, large investment flows from many major investors, and a focus on public investment. This area also has an industrial area that accounts for one-fifth of Hai Phong, not including industrial clusters and craft villages.
In the first six months, the number of people in Hai Phong accessing nhadatanphu.com.vn accounted for the highest proportion, higher than both Hanoi and Ho Chi Minh City.
Also, according to HpREA’s report, in the first six months of 2024, the entire Hai Phong real estate market recorded positive factors in most areas and segments, with a gradual warming up. Transaction volume increased, and prices rebounded (5-15% on average), and there was no longer a “loss-cutting” situation.
Investors have returned to the market, and developers have focused on implementing many new projects, with the volume of primary products sold to the market increasing several times compared to 2023. At the same time, apartment transactions remained stable in projects with attractive locations and sales policies, such as Hoang Huy Commerce and The Minato.
In addition, real estate offices have restructured and operated more efficiently, and brokers have returned to the profession in increasing numbers. Industrial real estate also maintained stable growth, but the recovery of the rental segment was still slow.
The bright spot was townhouses in central districts priced below VND 3 billion, land plots in districts priced below VND 1 billion, and land in areas with infrastructure in populous areas with high demand. The low-rise segment recorded the successful launch of the mega-project Vinhomes Royal Island, and the social housing segment stood out with the project at Tong Kho 3 Lac Vien.
According to the master plan until 2045, Thuy Nguyen will become an urban area of type III by 2025, aiming for type II by 2035, with a model of a city belonging to Hai Phong city. Thuy Nguyen is also the new administrative and political center of Hai Phong city.
It is also the center of industry, commerce, services, finance, tourism, culture, sports, health, and education; the center of marine fisheries in the Northern coastal region; a smart, eco-friendly, and climate-resilient city; and a strategically important location for national defense and security.
The projected population of the entire city by 2035 is about 600,000 people. By 2045, it is expected to reach about 725,000 people. In terms of land use planning, by 2035, the total construction land area is expected to be about 15,595 hectares, including about 6,265 hectares of residential land. By 2045, the total construction land area is expected to be about 17,443 hectares, including about 7,128 hectares of residential land.
Introducing Vinhomes Royal Island – A Continental-Class “Royal Island City”
On March 15, 2024, Vinhomes Corporation officially introduces “The Royal Island City” project – Vinhomes Royal Island on Vu Yen Island, Hai Phong – a pioneering island urban area in the city center.
Luxury Yacht Terminal: The New Symbol of Opulence in “Wealthy Cities”
Luxury yacht adventures will attract the ultra-rich from around the globe to Vinhomes Royal Island, the Royal City Island, which was officially launched on March 15th in Vu Yen, Hai Phong.
Own the triad of “wood – water – universe”, Vinhomes Royal Island becomes the focal point
Vinhomes Royal Island has created a new wave in the real estate market with a spectacular launch, revealing pioneering luxury amenities in Vietnam. The special allure of the Royal Island City comes from its unique location and exceptional connectivity.
Mayhomes – Official F1 Distributor of Vinhomes Royal Island
With proven sales accomplishments in major Vinhomes projects, Mayhomes continues to partner with the developer in the most anticipated project in Northern Vietnam in 2024 – Vinhomes Royal Island Vũ Yên, Hai Phong.
What’s new at “Upscale Island” in Hải Phòng?
Experience daily beachfront living with a private beach right at your doorstep, learn horseback riding at the pioneering Royal Vietnam Equestrian Academy, dock your yacht at the exclusive Royal Island City marina… These premium amenities await the future residents of Vinhomes Royal Island.
