Long-term investors seeking capital gains or rental income areincreasingly looking to the southern province of Binh Duong’shousing market, according to a survey by property services providerSavills Vietnam.
The province has been a leader inattracting foreign direct investment, with almost 2,200 such projectswith total capital of more than 18 billion USD. Its population last yearwas around 1.69 million people, of which 75 percent were of workingage, revealing the potential of its residential market.
As ofAugust, there were 49 apartment and villa/townhouse projects in both theprimary and secondary markets, supplying around 11,000 dwellings – an11 percent average annual increase since 2009. All residential projectsare located in the five main areas of Thuan An, Di An, Thu Dau Mot, BenCat and Binh Duong New City.
This year 18 additional projectsare expected to hit the market with more than 11,800 apartments, villasand townhouses. Approximately 77 percent are apartments. In thatsegment, the price of active projects is 800-1,200 USD per square metreand unit prices range from 80,000 USD to 120,000 USD. In the landedproperty segment, prices range from 550 USD to 1,000 USD per squaremetre.
The average price in Binh Duong New City is 1,500-2,100USD per square metre, higher than in other areas. The prices at populartownhouse projects in New City range from 200,000 USD to 260,000 USDper dwelling, while comparable houses in other areas sell for50,000-110,000 USD.
The most common household size in BinhDuong is two to four people, with 73 percent falling in that range,making two-bedroom units the most appropriate.-VNA