Bac Ninh’s Real Estate Report October 2021 is a program to update real estate information in the Bac Ninh market. And to start the program, let’s review the main highlights in October 2021 in the Bac Ninh market.
Currently, Bac Ninh attracts nearly 1,600 FDI enterprises and projects with a total registered capital of 19.8 billion USD and ranks first in the country in terms of industrial production value, estimated at 1,066 trillion VND by 2020. The scale of industrial production has increased rapidly, firmly affirming the “leading role” for economic growth and development. Bac Ninh becomes the center of electronics industry and high technology industry of the country. Proportion of high-tech industrial products in Bac Ninh province will increase from 61.7% in 2015 to 86% in 2020.
On October 16, the specialized Vice Chairman of the National Traffic Safety Committee Khuat Viet Hung directly inspected the current state of works that violated the railway traffic safety corridor in Tu Son.
Truong Thinh Phat Joint Stock Company must stop the construction immediately on the railway traffic safety corridor; The Vietnam Railway Administration makes decisions to handle administrative violations for this violation.
Bac Ninh Provincial People’s Committee has just issued a decision approving the task of detailed planning of urban areas and services for Nam Son – Hap Linh industrial park. Kinh Bac Consulting and Investment Joint Stock Company is the sponsoring business to elaborate this project. The total planned area is 108ha and the population is expected about 20,000 people.
From October 11 to 13, in Tu Son town, Institute of Economic Development, Consultancy and Development (IDE); the Vietnam Industry and Trade Club; Bac Ninh Young Entrepreneurs Association cooperates with Hanaka Group to organize the program to celebrate 75 years of President Ho Chi Minh’s day sending letters to Industry and Trade and Vietnam Business Day (October 13).
Within the framework of the program, the Organizing Committee of the Conference “Forum of entrepreneurial culture for the cause of national interests – Constitutional reforms of institutions for the development of the private economy”.
The real estate market report in the third quarter of 2020 will continue to recreate the picture of the real estate market in Vietnam in the context of the global economic decline. The investment is still huge. In the third quarter of 2020, real estate had to cede the “throne” to investment in two securities and gold channels.
Son recently inaugurated the Dai Dinh overpass and expanded the provincial road 179 to 33m connecting the center with Gia Lam, helping to shorten the travel time for people here, so this area has an advantage in attracting. Investors looking for an airy, peaceful and fully equipped living space in the outskirts of Hanoi.
Currently, Bac Ninh has completed the items in the project, determined to achieve the goal of becoming a centrally-run city by 2022. The event is expected to create a strong boost to the real estate market in the North. Ninh in general and Tu Son in particular.
According to Jones Lang LaSalle (JLL), the average occupancy rate of industrial parks in the Northern provinces including Hanoi, Hai Phong, Bac Ninh, Hung Yen and Hai Duong in the third quarter of 2020 increased 160 percentage points compared to the quarter. I / 2020, reaching 74%.
Accordingly, land prices reached a new peak with 102 USD / m2 / rental cycle in the third quarter of 2020, an increase of 7.1% over the same period last year. Prefabricated factory rents also increased slightly, ranging from 4.1-5.2 USD / m2 / month in the third quarter of 2020, an increase of 2.1% over the same period last year.
The industrial zones (IZs) all increased search volume in the third quarter. Specifically, compared to the same period last year, the search volume of VSIP Bac Ninh Industrial Park increased 22%, some industrial zones in Ho Chi Minh City such as Tan Binh Industrial Park increased 20%, Hiep Phuoc Industrial Park increased 23%, Tan Tao Industrial Park increased 37%.
Land prices around industrial zones in Tu Son or Yen Phong (Bac Ninh) increased by 1% QoQ; Residential land prices around Binh Duong (Di An, Thuan An) also experienced significant growth year on year.
Benefiting from industrial real estate, land prices in Tu Son increased continuously over the years. According to a market summary result, from 2016, the average price growth cycle of all real estate segments has been recorded from 200 – 250% per year. Particularly for land plots located in urban areas invested in utility infrastructure, the price may have increased by 7 times.
The investment trend of the core urban area in the center of economic regions with development potential has become the investment trend in the second half of 2020. Some safety points when investing in the core urban area is the central location that is always valuable.
Increasing investment returns, located in the planning area, legal transparency with red book handing and if necessary, can borrow from a bank with 85% of the book value. Therefore, the selection of central core urban urban products will help with good product liquidity, not only bring profits when the market goes up, but also easily recoup the cash flow when the market cools.
Since the end of February 2020, the real estate market has shown signs of sluggishness influenced by Covid-19 and limited supply of new products by legal policies. In addition, the attitude of being sure to wear durable clothing still greatly affects investors’ decision to buy real estate. In particular, investment in land plots still dominates because the general mentality of Vietnamese people still likes “to be safe, wear durable”, to accumulate safe assets as “savings”.
Mr. Ngo Xuan Tong, Director of the Tax Department of Bac Ninh province, said that the initial inspection results were available, continuing to verify Cenland tax evasion.
Through verification, Bac Ninh Tax Department has not detected Nam Hong Company to evade tax because it has declared and paid full tax when dealing with real estate at Vuon Sen project. Bac Ninh Provincial Tax Department said it is continuing to clarify whether the Cenland Real Estate Exchange has tax evasion or not.
Recently, the launching ceremony of the Hanaka Paris Ocean Park project at Pico Building has attracted numerous customers and investors to attend. Out of a total of 80 lots launched, all of the lots were officially “finished”, proving the attraction and “fever” of the project in particular and the resilience of the Bac Ninh real estate market in general.
Together with the “boiling” back of the post-translation market, Hanaka Paris Ocean Park is attracting a large number of customers to visit the project and has become an “ideal” destination for investors’ cash flow which attracts profitable opportunity.
The last information has ended the Bac Ninh’s Real Estate Report October 2020. See you in the next Bac Ninh Real Estate Report in Sen Vang’s youtube channel “Kênh đầu tư Sen Vàng“. Hope you have a productive day!!!
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