Thái Nguyên: A Land of Opportunities for Investors
Thái Nguyên, a province located about 50km from Hanoi’s International Airport, is a bustling hub of economic and social exchanges between the northern mountainous region and the Red River Delta. With well-connected beltways to provinces such as Bắc Ninh, Bắc Giang, Vĩnh Phúc, and Phú Thọ, as well as toll-free access to the Hanoi-Thái Nguyên expressway, the province benefits from its strategic location and synchronized transportation infrastructure, facilitating regional integration and attracting investments.
According to the 2021-2030 strategic plan and the vision for 2050, Thái Nguyên is set to become an industrial center with numerous advantages for development. This will lay the foundation for attracting infrastructure investments and industrial enterprises to the region, with a projected surplus of over 6,000 hectares of land for industrial development by 2030.
Thái Nguyên has consistently been one of the most attractive destinations for foreign direct investment (FDI) in the northern region, particularly in the industrial sector. In 2023 alone, the province approved 41 new FDI projects with a total registered capital of over $253.3 million. Additionally, there were 17 projects with increased capital totaling $136.2 million. Currently, Thái Nguyên hosts 211 active FDI projects with a total investment of $10.72 billion, attracting leading global economic groups from major economies such as the United States, South Korea, China, and Japan. Notable examples include Samsung, Sunny, Trina Solar, and Núi Pháo Massan.
Moreover, Thái Nguyên boasts vast land reserves, covering approximately 3,562 square kilometers, while its current population is only around 1.3 million people. This abundance of available land presents a significant opportunity for urbanization and the development of the real estate market.
The Affordable Real Estate Market and its Potential for Growth
Thái Nguyên’s promising prospects have generated a substantial demand for housing. Currently, the real estate prices in Thái Nguyên are relatively low compared to its neighboring provinces and the Hanoi market, indicating potential for significant price appreciation. With a growing workforce in industrial zones, led by FDI corporations, and a significant number of graduating students each year, the demand for housing and settlement in the province is expected to further drive the growth of real estate projects.
According to Mr. Đoàn Đức Duy, Chairman of the Real Estate Club of Thái Nguyên (under the Thái Nguyên Business Association), the most sought-after segment in the local real estate market is land. Residential properties, particularly those priced between 1 to 3 billion VND in the city center, have maintained good liquidity due to genuine demand.
Recently, the Thái Nguyên market saw a surprising surge in interest with the launch of Tecco Elite City’s Tower E. Within just one hour, over 40 apartments were successfully sold under a special policy: zero investment risk. Customers only need an initial investment of 800 million VND for a 2-bedroom apartment at Tecco Elite City, receiving immediate possession and a guaranteed rental income of up to 11 million VND per month for two years. Additionally, for the first time in Thái Nguyên’s history, there is a buy-back guarantee at the original price after two years, providing customers with the flexibility to reside there for any reason.
In addition to apartments and residential land near industrial zones, Thái Nguyên has experienced an increasing demand for large forested areas with reasonable prices. These areas are being developed for eco-tourism, community-based tourism, and agricultural tourism.
Mr. Duy also shared his outlook on the real estate market in Thái Nguyên for 2024, stating that it will operate in a more stable manner, with numerous large-scale projects attracting investors’ attention. His advice to investors is to focus on long-term goals and aim for a steady cash flow from their real estate investments, rather than relying solely on price appreciation.