In general, in the Southern real estate market, Binh Duong is a province with outstanding growth in interest and stable selling prices. Specifically, the interest in Binh Duong real estate in the third quarter of 2024 is expected to increase by 32% compared to the same period last year. Meanwhile, other localities such as Long An, Ba Ria Vung Tau, Dong Nai have increased from 17% - 22%.
In Binh Duong, apartments are the segment attracting the most interest for both sale and rent, concentrated in areas near Ho Chi Minh City. Specifically, the level of interest in apartments for sale in many localities in Binh Duong such as Di An, Thu Dau Mot and Bau Bang in the third quarter of 2024 is expected to increase by 20%, 11% and 10% respectively compared to the second quarter of 2024.
Interest in Binh Duong real estate market increased quite strongly
Commenting on this market, Mr. Dinh Minh Tuan, Southern Regional Director of Batdongsan.com.vn, said that the development momentum of the Binh Duong real estate market includes many factors.
The first is the real demand, when Binh Duong ranks second in the country in terms of immigration rate with 26.4%. Factors that create population growth with a large immigration include good prices compared to the center of Ho Chi Minh City and the location of the gateway to trade and the leading industrial center in Vietnam. With the above advantages, the level of interest in real estate in the province mainly comes from the needs of local and neighboring people.
Second is the strong position in infrastructure, urbanization rate and positive planning prospects. According to the PCI (Provincial Competitiveness Index) in 2022, Binh Duong ranked third nationwide with a total score of 64. Binh Duong's urbanization rate by the end of 2022 ranked second with 84%, only after Da Nang with 88%, according to data from the Ministry of Construction . In the coming time, Binh Duong is expected to receive many market support policies, both general policies and policies for the real estate market.
Third, Binh Duong's real estate supply has a big advantage over other provinces in the same region. Data from Batdongsan.com.vn shows that the number of listings for sale and rent in the first 8 months of 2024 in Binh Duong has always been much higher than in other provinces around Ho Chi Minh City such as Dong Nai, Long An, Tay Ninh, Ba Ria - Vung Tau, Binh Phuoc. This shows that Binh Duong's real estate supply has a big advantage over other provinces in the same region. It is expected that Binh Duong will have many new projects to meet the shortage of supply in the South, from reputable investors. In addition, Binh Duong real estate prices are also competitive compared to Ho Chi Minh City and neighboring provinces.
In addition, according to many experts, the industrial economy has long been a pillar in the development of the Binh Duong real estate market. In terms of the province's economic structure in the first 6 months of 2024, the Industry and Construction sector accounted for 65%, and Services accounted for 26%. The total newly registered FDI capital in the province accumulated to the end of July 2024 reached 41.5 million USD, only lower than Hanoi (43.6 million USD) and Ho Chi Minh City (58.1 million USD). With its unique advantages, the Binh Duong residential real estate market has also gradually developed along with industrial parks.
According to Batdongsan.com.vn, before 2016, the province had only 92 residential real estate projects. Up to now, that number has increased by 277% to 349 projects. At present, Binh Duong is focusing on developing a green economy, orienting the transition of industrial parks to a smart-ecological model.
Many apartment projects are built near industrial parks to meet the actual needs of the Binh Duong market.
Speaking at the recent event Vietnam Real Estate Market Overview 2024 and Binh Duong Focus, Mr. Oh Dongkun - General Director of Becamex Tokyu Company commented that Binh Duong is a province that always maintains a high economic growth rate and ranks third in the country in attracting FDI. Recently, Binh Duong is also the province with the highest per capita income in Vietnam.
"For us - an FDI real estate developer who has accompanied Binh Duong since the early days, the province's sustainable development policy on transport infrastructure, smart city strategy and efforts to attract high-tech investment in recent years are key factors to help maintain stable growth in the current challenging economic context," said Mr. Oh Dongkun.
Source: https://www.congluan.vn/dong-luc-nao-giup-bds-binh-duong-tang-truong-on-dinh-thoi-gian-qua-post313258.html
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