Remember in 2021, when names like Thai Nguyen, Bac Giang, Bac Ninh, Hai Duong, Quang Ninh… continuously create real estate fever spots, the Phu Tho market is quite peaceful. This is also the reason why the price level of this land is still much lower than that of its “neighbors” bordering Hanoi.

80km from the capital center, 50km from Noi Bai airport, about 180km from Hai Phong port and Lao Cai border gate, Phu Tho is an important “link” on the economic corridor Kunming – Lao Cai – Hanoi – Hai Phong – Quang Ninh.

Located in an important position at the western gateway of Hanoi Capital, Phu Tho is adjacent to the Northeast and Northwest regions with the Red River Delta, and at the same time possesses a “river crossroads” location with prosperous feng shui, is the focal point for economic exchange between the Northern Delta provinces and the Northern mountainous provinces.

With synchronous infrastructure investment, Phu Tho has become one of the localities with a very strong growth rate attracting FDI capital with large Korean industrial real estate projects (Microsoft, Samsung, Dell…) ; Japan (Matsuoka, …); India; Slovakia; Italia; Australia; New Zealand; China…

The entire Phu Tho province currently has 7 industrial parks approved by the Government, with a total planning area of ​​2,156 hectares, including industrial parks: Thuy Van, Trung Ha, Phu Ninh, Phu Ha, Tam Nong, Cam Khe and Ha Draw. In addition, the province also has two industrial clusters: Bach Hac and Dong Lang. To date, there are 4 industrial parks and 2 industrial clusters that have invested in infrastructure and come into operation.

According to Mr. Nguyen Van Dinh – Chairman of the Vietnam Real Estate Brokers Association, the formation of industrial parks will lead to a wave of population movement to these areas: “First is the need for housing for professionals.” Experts, engineers, workers working in industrial parks, followed by the need for rest, shopping, entertainment… This is the reason for the demand for residential real estate and commercial real estate in industrial parks. The central area of ​​Viet Tri or near industrial parks in Phu Tho will increase sharply,” Mr. Dinh commented.

Pioneering in development in Phu Tho, the real estate market has recorded notable names such as Vingroup, TNR Holdings, T&T Group, GP.Invest, Bach Viet Land… In addition, according to our information There are a number of large real estate corporations, and even emerging names are entering the Phu Tho market with many apartment and urban area projects completing legal procedures.

According to Mr. Dinh’s assessment, during the hot real estate growth period, Phu Tho was a rare area close to Hanoi that was not swept away too strongly by the price fever. Therefore, in the new growth cycle of 2024-2025, investors will target suburban areas and provinces bordering big cities. Among them, Phu Tho will be an attractive choice.

Actual surveys show that, for real estate projects with synchronous and complete infrastructure and landscape in the city center. Viet Tri, land prices range from 25-40 million VND/m2. Land prices close to industrial zones range from 18-25 million VND/m2.

Data from the Vietnam Association of Real Estate Brokers (VARS) also recorded a difference from the usual rules in the provincial market. Particularly in Phu Tho, the market recorded that the apartment segment received higher interest from buyers than the land segment. background. Some projects such as Wyndham Lynn Times Phu Tho, Vinhomes Sky Park Bac Giang priced at about 40 million VND/m2 recorded an absorption rate of up to 60%. Customers are mostly investors in Hanoi who buy to exploit and lease in industrial parks in the area.

According to experts, the cash flow of real estate investors at the end of the year is shifting strongly towards suburban areas, which is an inevitable consequence of the excess space in large markets like Hanoi. There’s not much left. According to the inevitable rule, wherever the money flows to, there is a low-lying area, and Phu Tho is considered a potential low-lying area in the eyes of investors.