Long-term investors seeking capital gains or rental income are increasingly looking to the southern province of Binh Duong’s housing market, according to a survey by property services provider Savills Vietnam.

The province has been a leader in attracting foreign direct investment, with almost 2,200 such projects with total capital of more than 18 billion USD. Its population last year was around 1.69 million people, of which 75 percent were of working age, revealing the potential of its residential market.

As of August, there were 49 apartment and villa/townhouse projects in both the primary and secondary markets, supplying around 11,000 dwellings – an 11 percent average annual increase since 2009. All residential projects are located in the five main areas of Thuan An, Di An, Thu Dau Mot, Ben Cat and Binh Duong New City.

This year 18 additional projects are expected to hit the market with more than 11,800 apartments, villas and townhouses. Approximately 77 percent are apartments. In that segment, the price of active projects is 800-1,200 USD per square metre and unit prices range from 80,000 USD to 120,000 USD. In the landed property segment, prices range from 550 USD to 1,000 USD per square metre.

The average price in Binh Duong New City is 1,500-2,100 USD per square metre, higher than in other areas. The prices at popular townhouse projects in New City range from 200,000 USD to 260,000 USD per dwelling, while comparable houses in other areas sell for 50,000-110,000 USD.

The most common household size in Binh Duong is two to four people, with 73 percent falling in that range, making two-bedroom units the most appropriate.-VNA