Infrastructure under synchronous investment is one of the important elements to promote Binh Duong’s real estate market

According to the result of a survey conducted by the real estate consulting firm Savills Viet Nam, there will be a lot of prospects for Binh Duong’s real estate market, especially in housing market.

 

Infrastructure on sharp growth

 

Binh Duong is now home to 6 land plot projects with 4,837 land plots, 6 villa/townhouse projects with 1,655 villas and 5 apartment projects with 1,046 apartments. Over the past time, there were 8 apartment projects with 1,747 apartments, 14 villa/townhouse projects with 3,600 villas and 5 land plot projects with 4,357 land plots sold out by investors. The average price of apartments is about US$608 per sq.m, US$447 per sq.m for land plots and US$132,000 for a villa.

 

According to the assessment of Savills Vietnam, the demand for housing in Binh Duong is very promising with the reasons as follows: Binh Duong is a locality with high population growth; more and more people will come to live and work in Binh Duong, due to well-built infrastructure, policies luring the talents and high demand for laborers from industrial parks.

 

In the next few years, it is expected that there will be around 12 apartment projects with 5,231 apartments, 2 villa/townhouse projects with 440 villas and 1 land plot project with 500 land plots on sale in Binh Duong.

 

Binh Duong now has also six office buildings with 3,520sq.m. Thus, the office for lease market in Binh Duong is small compared to that of other localities like Nha Trang, Can Tho and Da Nang. This is because the office for lease market herein has been recently developed and the demand for the market is still not much, Savills Vietnam explained. TDM town accounts for 45% of share market while the remainders belong to Thuan An and Di An districts.

 

Binh Duong is one of Vietnam’s top localities with FDI attraction, so the office for lease market herein is likely to achieve growth like Ha Noi and HCM city.

 

High-class hotel: new market

 

According to Savills Vietnam, Binh Duong now only has 12 one to three-star hotels with 952 rooms. The price of three-star hotels herein is US$24.2 per room per night. And Binh Duong has not yet had four or five-star hotels.

 

“Binh Duong is a locality with many industrial parks. Hence, if having additional entertainment services, Binh Duong will lure more merchants and tourists, contributing to promoting its hotel sector”, representative of Savills Vietnam said. The representative also added that Binh Duong will have two more four-star hotels in Thuan An district and additional 8 projects calling for investment, most of them are tourist sites and eco-tourism sites…

 

Reported by D.Le-Translated by K.T