The Cửu Long (Mekong) Delta, known as Việt Nam’s “rice bowl”, is emerging as a promising destination for real estate investment due to its improving connectivity and transportation infrastructure and growing tourism, according to industry insiders and experts.
Lê Bảo Long, strategy director at Batdongsan.com.vn , said the improving transportation creates opportunities for housing developers.
An estimated VNĐ20 trillion (US$818.64 million) is set to be invested in the region in the construction of new expressways and bridges, he said.
There will be 760km of expressways by 2030, and 1,180km by 2050.
Lê Quyết Tiến, director of the Construction Investment Management Department under the Ministry of Transport, said key infrastructure projects such as the Rạch Miễu 2, Mỹ Thuận 2, Đình Khao, and Đại Ngãi bridges would be completed over the next few years.
The region already has expressways like Bến Lức-Trung Lương, Trung Lương-Mỹ Thuận, Cao Lãnh-Lộ Tẻ, and Lộ Tẻ-Rạch Sỏi.
These not only improve transportation but also stimulate the real estate market, he said.
The impending completion of projects like the Mỹ Thuận-Cần Thơ Expressway, Mỹ Thuận 2 Bridge, Cà Mau bypass, upgrades to the Hậu River (phase 2) and Chợ Gạo Canal (phase 2) will improve infrastructure.
The Chợ Gạo Canal will allow large vessels to sail easily.
Đặng Hùng Võ, former deputy minister of Natural Resources and Environment, said key factors that make the property market in the region attractive are the favourable natural conditions and climate.
It could thus potentially attract people from all over the country and foreigners to come and live and work there, he said.
Real estate projects connected to the agricultural eco-system and sustainable and smart tourism would be highly attractive to investors, he added.
The region holds great potential for agricultural and seafood exports.
It also attracts a lot of FDI in industries such as clean energy and logistics.
The recent approval of the regional plan for 2021-30 by the Government shows its commitment to developing the region.
Under the plan, trade connections within and beyond the region will be enhanced, which presents opportunities for investors to develop real estate projects.
Dương Quốc Thủy, chairman of the Cần Thơ City Real Estate Association, said abundant land at low prices and a large and affordable labour force make the region an attractive destination for property investors.
“The market is still relatively new and less volatile, reducing the risk of speculation and price manipulation.” — VNS