Real estate market in 2015 will prosper?

In 2014, macroeconomic stability, governmental measures to remove difficulties and PPC’s attention, direction have affected positively the real estate market in Binh Duong province.

Favorable policies

In 2015, the real estate market has many favorable conditions, because Land Law (dated 7-1-2014), Real Estate Business Law (dated 11-25-2014), Housing Law amendment (dated 11-25-2014) continue to promote efficiency. These laws have many breakthroughs, the direct impact to the real estate market. For instance, Housing Law adjusted, added some regulations to develop and harmonize various accommodation types corresponding to demands and solvency of each social groups; loosened conditions allowing Vietnamese people to settle overseas, foreign organizations and individuals purchase, own houses in Vietnam. Amended Real Estate Business Law allowed foreigners to buy houses in Vietnam...

Along with the policy of the Government, PPC, and efforts of enterprises, real estate market in Binh Duong province is expected to prosper in 2015. Image: Oasis Expert Villas Village in An Phu ward, Thuan An town.

In Binh Duong province, PPC issued Directive 01/2014/CT-UBND regarding the implementation of solutions to remove difficulties for the provincial real estate market. Provincial Department of Construction’s Director Nguyen Thanh Tai said, provincial People’s Council approved a housing development program in the province until 2020 towards 2030. The program not only satisfy housing demands of low-income people but also stimulate production and development of real estate market through mobilization of all land, capital contributions to housing development, and strengthening machinery of the State in the field of housing management.

Real estate market is recovering

HCM City Real Estate Association’s President Le Hoan Chau reckoned that along with HCM City, real estate market in Binh Duong province will "warm" up in 2015. Segment of small and average housing priced reasonably at around VND1 billion is attracting a lot of buyers. Especially, Binh Duong New City has full facilities, wide area… facilitating the recovery of real estate market there.

According to North Saigon International JSC’s General Director Nguyen Thai Hoa, in 2015, real estate market in Binh Duong will be warmed up due to housing segment of prices from VND600 million to VND2 billion. The number of people living permanently in the province is relative high, thus having high housing demand. On the other hand, the number of enterprises located in Binh Duong is also high, leading to high housing demand of foreign professionals, especially when foreigners are allowed to purchase houses in Vietnam. Currently, many foreign professionals work in Binh Duong but live in HCM City. These foreigners would buy houses in Binh Duong to be convenient for work.

Lam Thuan Hung Real Estate Company’s Head of Marketing Nguyen Nam Long believed, in 2015, many more businesses would invest in Binh Duong New City, the number of housing projects for low-income people would also increase.

Enterprises implement various solutions

Businesses also introduced measures, such as: restructuring, re-adjusting business strategies to meet real demands of the market and solvency of majority people.

According to Mr. Chau, to expand business, many real estate companies have launched products in accordance with market demands and customer groups, such as: small and medium apartments having full amenities, flexible payment methods, affordable prices, and environmentally friendly features…

Mr. Hoa said, in 2015, his company will focus on quality improving, combining environmental green programs with friendly inhabitants. In particular, the company will introduce villas designed to increase utilities, meeting user needs based on customer surveys. Besides, the company will discount 5-6% of market prices and customers can pay in installments within one year.

Reported by P.Le – Translated by Ngoc Huynh