Affordable apartments in Binh Duong attract customers in Ho Chi Minh City in 2023
The first quarter of 2023, although not as exciting as a year ago, but with a suitable housing development strategy and positive signals from infrastructure, increased foreign investment is pulling capital back to the market. Binh Duong apartment school.
In the past few years, Binh Duong has been leading in the development of apartment supply in the southern region with prices suitable for the majority.
Affordable apartments attract customers again
Just finished closing the savings book of 2 billion dong at the end of March, Nguyen Thi Tam, an investor in Ho Chi Minh City. Ho Chi Minh City has planned to survey the Binh Duong apartment market because house prices in Ho Chi Minh City. Ho Chi Minh City is no longer suitable for the financial ability of many small investors like her.
“City. Ho Chi Minh City used to have many options for investors with little capital like me, but now there are not. The price of an apartment even in Binh Tan, Binh Chanh, and District 12 is also more than 50 million VND/m2, "said Ms. Tam and added that the shift to satellite markets like Binh Duong is an all-time trend. weak. This area is adjacent to the city. In Ho Chi Minh City, housing demand is increasing and most importantly, the selling price is mid-range, there is still plenty of room to increase prices.
Mr. Nguyen Van Dat (from Nghe An, currently working in Thu Duc City, Ho Chi Minh City) also has a need to find suitable apartments with available financial resources of about VND 1.5 billion to live in, but because in the city. Ho Chi Minh City no longer have apartments of this price, so they accept to go further to find a place to live.
“If buying a 2-bedroom apartment in Ho Chi Minh City, you must have at least VND 2.5-3 billion, but in Thuan An and Di An cities of Binh Duong, it only needs VND 1.5-2 billion. Meanwhile, moving from TP. Thuan An to City. Thu Duc took less than 40 minutes, so I decided to choose to buy a house in Binh Duong to fit my current financial situation, "said Quang.
The strong development of infrastructure makes Binh Duong a destination for investors and buyers wishing to stay.
In fact, the centrifugal trend in the real estate market has been going on for several years now and Binh Duong is one of the highly appreciated localities. Because in the past few years, Binh Duong has been leading in the development of apartment supply in the southern region with prices suitable for the majority from 30 million VND/m2. For example, in the city. Thuan An, an apartment project on the front of National Highway 13, is located at the gateway of Ho Chi Minh City. Ho Chi Minh City, named – Diamond Boulevard, recorded a price of 31 million VND/m2, the total cost of apartments ranges from 1.8-2.4 billion VND/unit, much lower than the apartment in Thu Duc.
Similarly, in the city. Di An, the project HT Pearl offering for sale more than 1,000 apartment products at HT Pearl project on Thong Nhat street with prices ranging from VND 31-34 million/m2 (VAT included); An Gia Group is expected to launch more than 1,000 apartment products at The Gio Riverside project with prices from 2.5 billion VND/apartment for an apartment of 70 m2… Meanwhile, surrounding projects are currently in development. offered for sale from VND 40 million/m2 or more.
A real estate investor in Binh Duong said that, in addition to a convenient location and affordable price, the current projects attracting purchasing power in Binh Duong all meet the criteria of construction progress. “In the context of house prices being strongly affected by high input costs, risks from construction progress also cause businesses to adjust their selling prices by increasing costs. Investors who keep their commitment to construction progress, have flexible payment policies, and provide good support to buyers all have strong financial backgrounds, home buyers can rest assured to choose products from developers. this," he added.
The push from the "terrible" FDI projects
In addition to focusing on promoting disbursement of public investment, Binh Duong prioritizes connected transport infrastructure projects, urban embellishment, leading to a sharp increase in demand for housing, services, offices, etc. . In addition, Binh Duong also accelerated the construction of VSIP III Industrial Park, Science and Technology Industrial Park, and the development of the World Trade Center in Binh Duong New City, thereby attracting investors with the project. million dollar judgment. These are favorable conditions to "stimulate" local real estate.
For example, Binh Duong Provincial People's Committee has just held a ceremony to award investment certificates to 6 enterprises investing in this locality, of which 4 projects have foreign investment capital (FDI), with a total capital of more than 176 million USD. and 1 project with domestic investment capital of 120 billion dong. Pandora Group (Denmark) has invested 100 million USD to build a new jewelry manufacturing facility in VSIP III Industrial Park.
Also in this round, BW Industrial Development Joint Stock Company (a joint venture between Warburg Pincus Group and Becamex IDC Corporation) successfully raised 300 million USD from international investors, increasing the total investment capital. into Binh Duong from 600 million USD to 900 million USD, becoming one of the largest FDI investors in Binh Duong province.
Meanwhile, the largest FDI project in Binh Duong belongs to LEGO Group (Denmark), with more than 1.3 billion USD in VSIP III Industrial Park, which has been awarded an investment certificate and is expected to start production. beginning in 2024.
From the perspective of investors, Dr. Su Ngoc Khuong, Senior Director - Investment Department Savills Vietnam said that, in the context of supply in Ho Chi Minh City, If Ho Chi Minh City is scarce and prices are high, Binh Duong will be the focus of the real estate market in the near future, because these localities have the advantage of having a large land bank and lower prices. At the same time, the strong development of infrastructure makes these areas a destination for investors and buyers wishing to stay.
Explaining more about the phenomenon of apartment supply boom in Binh Duong market, Mr. Khuong cited statistics that the investment attraction index (FDI) and average income (GDP) of Binh Duong always ranked first. 3 nationwide. Paying to the state budget is also at the top. Currently, the province has 29 industrial parks and 12 industrial clusters with a total scale of 10,000 hectares, accounting for a quarter of the industrial zone area in the South, the average occupancy rate is over 70%.
“Binh Duong Real Estate continues to be one of the choices of many large enterprises, domestic and foreign investors and people with real housing needs. Because at present, the price of real estate projects open for sale is still very soft, just over 1 billion dong can own a luxury apartment in Binh Duong”, said Chairman of Ho Chi Minh City Real Estate Association. Ho Chi Minh City (HoREA) Le Hoang Chau commented.
Analysis of the situation of supply shifting from Ho Chi Minh City. Ho Chi Minh City to neighboring provinces,
Mr. Le Hoang Chau also said that one of the core points in the city's development strategy. Ho Chi Minh City will develop satellite urban areas according to the goal of multi-center urban development, taking into account the urban spatial area, beyond the administrative boundaries of which Binh Duong is an example.
Some experts predict the absorption rate of the apartment market in Binh Duong will be very good, with people with real demand, especially in the low price segment. Binh Duong used to be vibrant with the apartment market in the period of 2020-2021, which is considered a "golden" period to attract many investors with an explosive product volume.
With an investment strategy in mid- and low-priced apartments, the golden period for the apartment market in Binh Duong, as analyzed by Mr. Le Hoang Chau, is completely hopeful again due to well-connected transport infrastructure. More than that, Binh Duong has 28 industrial parks in operation and has more than 1 million workers. Stable jobs, high per capita income, and a huge demand for housing for residents. Not to mention the foreign experts working in Binh Duong also have a demand for housing, especially the demand for apartments is still very high.
Contact the above apartment projects via:
Hotline/Zalo HT Pearl, Diamond Boulevard…: 0911 525 454
Source : Binh Duong Apartment
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