Development potential of Hoa Binh resort real estate

HOA BINH The good growth of the tourism industry after the pandemic has opened up many opportunities for investors in the resort real estate segment in Hoa Binh.

Hoa Binh market has a lot of room for development, can be exploited for lease and has good growth potential in the future.

Competitive advantage of Muong tourism

In the first 6 months of the year, Hoa Binh welcomed over 1.68 million visitors and tourists, up 56.8% over the same period. In which, international visitors were 60,000, up 45.1% over the same period last year. Domestic visitors 1.62 million, up 57.2% over the same period. Total revenue from tourists reached VND 1,900 billion, up 115.4% over the same period, reaching 79.2% of the year plan.

Northwest mountain landscape. Photo: Shutterstock

The tourist attraction of this mountainous region comes from the rich natural landscape such as rolling mountains, dense system of lakes, rivers and streams, wild beauty and unique ethnic cultures. All of these have helped this place become an attraction for tourists to come to relax, enjoy and explore the local culture. Besides, this is also considered a favorite destination of the capital's residents for weekend vacations because it is only about 80 km from Hanoi.

Many experts estimate that Hoa Binh possesses many advantages to develop popular tourism trends that are spreading globally such as eco tourism, health tourism, health tourism. authentic tourism.

According to the Politburo's resolution on developing tourism into a spearhead economic sector, the leaders of Hoa Binh province have set a target to welcome 4.9 million visitors by 2025, with a revenue of VND 5,400 billion.

Development driving force for real estate

Besides the advantage to develop tourism, the investment in transport infrastructure is also an important factor promoting the development of Hoa Binh real estate market.

Transport infrastructure in Hoa Binh province. Photo: Phuong Son

According to the plan, in the next 5 years, the province will focus on investing and perfecting the arterial traffic network. In particular, the key is the project to expand the road surface of Highway 6 Hoa Lac - Hoa Binh to 80-110m, with a scale of 6 lanes with a total investment of about 8,100 billion VND, expected to start in the fourth quarter.

Along with that, the Ministry of Transport and Communications has just approved a proposal to build a road nearly 7 km long, 120 m wide with a scale of 6 lanes, connecting Thang Long Boulevard and National Highway 21 to Hoa Lac Expressway - Peace.

In addition, many other infrastructure projects are also being accelerated, including the Hoa Binh - Moc Chau expressway, the Ring Road 5 in the capital passing through Luong Son district, the project to build and upgrade the tourism infrastructure of the province. Peace...

Resort projects with existing infrastructure and complete legality are expected to become attractive products in Hoa Binh in the near future. Photo: La Saveur

With the strengths in tourism and existing potentials, the real estate market here is attracting many large real estate enterprises such as VinGroup, Sun Group, Geleximco, T&T, Flamingo... large-scale projects. This has contributed to changing the face and helping the province's real estate market become more and more exciting.

In fact, in the last two years, the local real estate market has also recorded a large price increase and transaction volume. According to the market report of the Ministry of Construction, in early 2021, Hoa Binh land price increased by 46% compared to 2020.

"Although the price has increased sharply in the past two years, Hoa Binh real estate is still considered to have a lot of potential and room for growth," an investor from Hanoi commented.