Northern Hoa Binh province has become a hotspot for real estate investors thanks to its lower land rentals and site clearance compensation costs, and accessible prime and convenient locations for the development of large-scale projects.
It also boasts a large land fund, moderate land prices, and a series of policies to stimulate tourism, economic development, and social infrastructure. The province has more than 11,000 km of roads of all types, with road surfaces having been significantly improved. It also has two rivers that can be exploited for inland waterway transport: the Song Da River, with a length of 151 km, and the Boi River, with a length of about 60 km.
Hoa Binh authorities have also set a target that, in the 2021-2025 period, the average annual economic growth rate will reach 9 per cent or more, and total registered investment capital for domestic projects will reach about VND80 trillion ($3.52 billion) and about $1 billion in foreign direct investment capital. This will provide a solid basis for Hoa Binh’s tourism and resort real estate market to post breakthrough achievements.
With the real estate landscape investors are creating together in Hoa Binh, a new future is opening up for the “gateway to the northwest”.
There are about 20 resort real estate projects now being implemented, with capital in the trillions of VND. Investment attraction is proportional to the increase in real estate value.