Thanks to the advantages of economy, infrastructure and urban planning, Quy Nhon is considered a "wave-ground real estate" market. Binh Dinh province currently has 5 main growth pillars including high-tech industry, tourism, processing industry, port services, logistics and urban economic development. The urbanization rate of the province is growing relatively rapidly, reaching about 46% in 2024. In particular, the tourism industry is growing strongly with more than 9 million domestic visitors in 2024, an increase of 83% compared to last year.
In addition, promoting public investment disbursement has also helped the transport infrastructure system in Binh Dinh make great strides with 5 key national highways. In particular, National Highway 19 is the main and important driving axis of the entire region, strongly connecting Binh Dinh province and the Central Highlands provinces with the gateway to the sea, Quy Nhon port. Phu Cat airport is also being upgraded with an expected capacity of 5 million passengers/year by 2030.
With advantages in nature, beautiful landscapes and large land funds, the residential real estate market in Quy Nhon is expected to develop strongly, especially towards the Northern region. The expansion and development of transport infrastructure, along with modern urban planning projects, will create a great driving force for the growth of this market.
According to data from Batdongsan.com.vn, the customer base interested in Quy Nhon real estate is mainly from Ho Chi Minh City (24%), Binh Dinh (22%) and Hanoi (16%), reflecting the need to find real estate products for investment or settlement. In addition, there are up to 10% of overseas customers, which shows the great potential of Quy Nhon real estate.
For each type of real estate in Quy Nhon, the level of interest and selling price are differentiated. Apartments have a slight improvement in 2024, but the price level has not recovered, currently fluctuating at 25 million VND/m2, down nearly 14% compared to the beginning of 2023.
Some apartment projects in Quy Nhon are facing delays in handover compared to the expected schedule, causing concerns for buyers and investors. Townhouses and villas have witnessed strong and unstable fluctuations in selling prices. The level of interest in this type has not recorded clear growth, showing the caution of investors.
According to Batdongsan.com.vn, land is the type with the most positive developments in recent times. The level of interest and land prices in Quy Nhon have improved significantly. Projects with complete infrastructure and clear legal status recorded a slight price increase, while unfinished projects still maintained stable or decreased prices. This trend shows that legally solid low-rise real estate is still the investment choice that attracts the most attention in Binh Dinh.
Another important factor that makes Quy Nhon considered a "wave-ground real estate" market is the relatively low price level compared to other coastal cities. The average land price in Quy Nhon ranges from about 29 million VND/m2. This shows that there is still a lot of room for Quy Nhon real estate prices to increase, as infrastructure and urbanization continue to be strongly promoted in the coming time.
For land products, especially urban areas far from the center, consumers today have more strict selection criteria. They focus on transport infrastructure factors, clear legal status, long-term development potential and surrounding utilities. This reflects the trend of buyers not only looking for investment opportunities but also posing high requirements for the quality of life and sustainable value of the project in the future.
Mr. Le Dinh Chung - General Director of SGO Homes Real Estate Consulting and Development Joint Stock Company - commented that to ensure efficiency and limit risks, investors need to pay attention to avoiding following the crowd psychology. In addition, investing in land at the present time requires a medium-term vision, with a capital recovery period of at least 1 to 3 years, instead of expecting to "surf" quickly.
