>> CT Group presents high-tech and sustainable projects in Binh Duong
>> Week of presentation of specialties from Binh Duong province
>> Intellectual properties and good policies, keys to Binh Duong’s success
| Apartment projects in Binh Duong are attracting more and more customers. |
In Binh Duong, the construction price of apartments ranges between 38 and 45 million dong/m² for mid-range projects, up to 2.5 times cheaper than in Ho Chi Minh City. This notable price difference allows buyers to acquire more spacious apartments for a similar budget.
Located close to Ho Chi Minh City, Binh Duong offers easy access to work areas and amenities of localities in the southern megacity. Many workers choose to settle there to enjoy a more pleasant living environment, instead of having to buy an apartment in Ho Chi Minh City at too high a price.
Strong demand and growing supply
Faced with growing demand, many apartment projects have emerged in Binh Duong in recent months. Among the most active developers are Phat Dat Immobilier (nearly 5,000 apartments), Pi Group (nearly 1,800 apartments in Binh Duong New Town) and Bcons Binh Duong (more than 750 apartments with many different areas and prices ). These projects offer apartments at various prices, thus meeting the needs of a large segment of the population with an average income.
| Bcons has a plan to build affordable apartments to attract customers from Ho Chi Minh City. |
If in the past many people accepted living in cramped houses near the center of Ho Chi Minh City, they now choose to go further afield to find a spacious and airy place. This is why, recently, apartment projects in Binh Duong are attracting more and more customers. For workers with an average budget, even buying a house in Binh Duong to work in Ho Chi Minh City is also a “practical option”.
Nguyên Ngoc Thanh, a resident of Phu Yên but working in the southern megacity and residing in Binh Duong, said: “Even though we have a house, it’s not big, it’s small, but it’s a place where we can settle down and start a business. Once we feel safe where we live, we can easily focus on spending time going to work and earning money.
Bcons Binh Duong, a leading real estate developer, understands this aspiration. “Our projects are ideally located along Pham Van Dong Street, just 15 minutes from downtown Ho Chi Minh City.”explains Dô Thanh Binh, vice-chairman of the board of directors of Bcons Binh Duong. “We focus on affordable apartments, so since our inception we have launched 11 projects with moderately priced land and reasonable prices in order to create accessible products, neither too far from the city nor right in the center “.
According to experts, Binh Duong’s appeal lies in its abundance of land, the possibility of building high-rise buildings and the absence of population quotas. In particular, along the major roads bordering Ho Chi Minh City, such as Pham Van Dong Street and National Road 13, land is still sufficiently available for investors to carry out projects there. Meanwhile, land in Ho Chi Minh City is becoming increasingly scarce.
A wise investment choice
| |
| Land in Binh Duong is very abundant. |
“Apartments remain the most attractive type of property for investorssays Pham Ngoc Thiên Thanh, real estate expert at CBRE Vietnam. Indeed, apartments offer long payment terms, with certain projects allowing buyers to pay only 25% to receive the property. Once they receive the property, they can generate rental income. So when they invest in the apartment market, the cash flow is spread evenly over several years.”
In fact, if the price is lower than VND25 million/m² for the affordable apartment segment, it can be said that companies building commercial housing in Ho Chi Minh City will almost no longer be able to do so. In the first quarter of 2024, the new supply has the lowest price of 49 million VND/m² in Nhà Bè district, or a project in Binh Chanh district, Ho Chi Minh City, also costs 50 million VND/m². dong/m². Faced with this reality, middle- and low-income workers in the southern megacity who want to buy affordable houses and apartments priced below VND2 billion are forced to buy products in neighboring areas such as Binh Duong. , Long An or Dong Nai.
Text and photos: Quang Châu/CVN
