Real estate market emerges by policies

Under the same development of nationwide market, real estate market in Binh Duong Province is accelerating to its growth as before thanks to good policies and stronger money flows to commercial and social housing.

Rich resources

According to socio-economic planning until 2020, Binh Duong Province is projected to become an urban zone under central government. To reach for this target before 2020, Binh Duong Provincial Authority focuses on building up urban zones including Binh Duong New City as the central district of Binh Duong Province. Therefore, aside from Thu Dau Mot City, other districts and towns including Ben Cat, Thuan An, Di An, and Tan Uyen have been boosting urbanization to become worthy central urban zones, making up a new city out of Binh Duong Province.

Apartments of Sora Gardens in Binh Duong New City are introduced by Becamex Tokyu

Notably, recent documental policies of the central government and the province have been in place to troubleshoot the problems of real estate market. Generally, the government policies have shown their effects where major markets of Ha Noi, Ho Chi Minh City, and Dong Nai eyed delight outcome. The evidence is the growing investment of foreign and domestic investors into real estate. This and the long-term orientation by Binh Duong Provincial leadership have convinced experts of great opportunities to develop real estate in Binh Duong Province.

“Evidently, real estate market in Binh Duong Province has been re-activated as many foreign and domestic investors have made series of housing projects for commercial and urban zones,” said Mr. Nguyen Ngoc Truong Chinh as General Director to Sen Vang Securities JSC. Particularly, famous investors of Becamex Tokyu, Gouco Land, Setia Ecolakes, Vietland, The Oasis, National Housing Organization (NHO) for First Home Premium Project in Binh Duong Province.

Chinh also noted of true demands for housing in Binh Duong Province as more housing transaction sessions showed success with very high equity to the market. For the future, housing market niche shall be more attractive in the face of high demands for housing.

The strong development of real estate in Binh Duong Province is partially thanks to modern urban planning policies launched long before. Additionally, local authorities have paid more attention to infra-constructions to add up features attracting investors and clients investing into real estates.

Market development promotion

Currently, many investors asserted that Binh Duong Province is required to have more time to activate good local policies.

Mr. Le Tien Vu, Deputy General Director of Incomreal Co. Ltd. said that Binh Duong Province should create more favorable conditions for real estate investors and enterprises to access land funds and shorter legal procedures; however, the significant factor is based on actual housing demands. The province should create land funds to facilitate social housing and bargain commercial housing.

Besides, local credit institutions should make necessary credit expansion in terms of real estates to match their financial competence and regulative measures of State Bank of Vietnam. Accordingly, loans should be offered to completing real projects, social housing for low-income people, and limitation of credit concentration for premium real estates.

Apparently, being a locality of fast economic development and urbanization, Binh Duong Province eyes great real estate potentials in Southern Major Economic Zone.

For the time, thanks to strategic vision and good investment attraction policies, real estate market in Binh Duong is strongly emerging; however, to boost the process for the demands of housing for thousands, Binh Duong Provincial authority should make use of additional forces and resources to develop the real estate market.

Reported by Khanh Vinh – Translated by Vi Bao