Binh Dinh Province currently focuses on five key pillars of economic growth.
HO CHI MINH CITY: The real estate market in the central coastal province of Binh Dinh, particularly in Quy Nhon City, is drawing increasing attention from investors, most notably from Hanoi and Ho Chi Minh (HCM) City.
A recent report by property listing platform batdongsan.com.vn highlights Quy Nhon as a “wave-front” real estate market, signifying its emerging status as a prime destination for early-stage property investment.
Binh Dinh Province currently focuses on five key pillars of economic growth: high-technology industry, tourism, processing industry, port services and logistics, and urban economic development.
The province’s urbanisation rate has steadily increased, reaching approximately 46% in 2024.
The tourism sector has experienced robust growth, welcoming over nine million domestic visitors in 2024, an increase of 83% compared to the previous year.
Public investment disbursement has also been accelerating, significantly boosting the province’s transport infrastructure.
This includes five major national highways, with National Highway 19 serving as a crucial corridor linking the province and the Central Highlands to the sea via Quy Nhon Port.
Phu Cat Airport is undergoing upgrades, with capacity expected to reach five million passengers annually by 2030.
With its natural advantages, and abundant land reserves, Quy Nhon’s residential real estate market is expected to grow strongly, particularly in its northern part.
Continued investment in transportation and modern urban planning will be key drivers of the market’s long-term growth.
The platform’s data shows that 24% of interest in Quy Nhon real estate comes from Ho Chi Minh City-based buyers, followed by 22% from Binh Dinh locals and 16% from Hanoi, reflecting strong demand from the country’s two largest urban centres.
Notably, 10% of interested buyers are based overseas, emphasising Quy Nhon’s growing international appeal.
Buyer interest and pricing trends vary across different real estate types, but prices have yet to rebound, staying at around 25 million per sq m on average, down nearly 14% from early 2023.
Some projects have experienced delayed handovers, raising concerns among both buyers and investors.
Townhouses and villas, meanwhile, continue to see significant price fluctuations and a lack of clear growth in demand, reflecting caution from investors. — Viet Nam News/ANN
