Potential apartments for rent in Binh Duong
Binh Duong is considered one of the largest industrial centers in Vietnam. This industrial “capital” currently has 28 industrial parks and 10 industrial clusters in operation, attracting 45,000 foreign experts and engineers and nearly 1 million highly skilled workers to work in factories. This number continues to increase by 20-25% each year.
Legacy Prime attracts a large number of customers at opening events.
In 2022, Binh Duong's urbanization rate will reach 82%, far exceeding the national average of only 40%. This is also the locality with the highest demand for rental housing in the country at 74.5%. These figures have made Binh Duong a "promised land" for investors in rental apartments.
According to some experts, in recent years, Binh Duong has been welcoming a wave of population migration from Ho Chi Minh City. The reason is that real estate prices in Ho Chi Minh City are constantly increasing, causing many people to tend to Binh Duong to be able to buy a house. If the financial accumulation to buy a house is still low, many young people also choose to rent a house in Binh Duong to save costs and have a more comfortable living space. They still commute to work in Ho Chi Minh City every day.
Legacy Prime project is being completed, expected to hand over houses before Tet.
On the other hand, apartments for rent in Binh Duong also attract a large number of foreign experts and engineers working in industrial parks. These are very potential tenants, constantly increasing with the wave of foreign investment pouring into Binh Duong.
After the Covid 19 pandemic, the demand for apartment rentals in Binh Duong remains quite stable. The profit margin from apartment rentals is considered equal to that of Ho Chi Minh City.
Surveys show that the current average rental price for a two-bedroom apartment in Thuan An and Di An is around 7-8 million VND/month (empty house). For furnished apartments, the average rental price is around 9-14 million VND/month. Investors tend to buy affordable apartment projects with 1-2 bedrooms, priced around 1-2 billion VND/apartment for rent.
Not only for rent, many investors in the Binh Duong real estate market also consider the profit difference when selling apartments in the future, after a period of exploitation for rent. Investing in renting apartments has a profit rate of about 6%/year, but the profit from the difference in apartment prices can be up to about 30-40%.
Ms. Huynh Giang, Head of Research at Savills Vietnam, believes that the Binh Duong apartment market still has a lot of potential for development. Apartment prices in this area are still quite far from the price level in Ho Chi Minh City. Meanwhile, Binh Duong's infrastructure is developing strongly, and services and utilities are invested in no less than Ho Chi Minh City. This factor ensures strong growth in real estate prices over time.
Choose the right project to combine profits
It is noted that the Binh Duong market continues to welcome a fairly abundant supply of apartments. The level of customer interest in the apartment segment is also maintained well. In particular, some projects with complete legal documents, fast construction progress and sales policies with many practical incentives are attracting a large number of real buyers and investors.
Perspective of gym and yoga room at Legacy Prime project.
One of the most promising projects is the Legacy Prime apartment complex of Kim Oanh Group. Located right in the center of Thuan An City, adjacent to AEON Mall, Legacy Prime is considered to have a prime location because it is surrounded by major roads such as Ring Road 3, Binh Duong Boulevard (National Highway 13), My Phuoc - Tan Van Boulevard, DT 743 and DT 746. This is also a project that many investors buy to exploit for rent because it is very close to large industrial parks such as Viet Huong, Song Than, VSIP 1 ...
“More certain to win”, Legacy Prime is also committed by the investor to lease for 36 months with a maximum total value of up to 216 million VND. Even customers who choose to receive the house to live in will still receive 50% of the committed rental amount. If customers choose to receive 50% of the committed rental amount from the investor, then find tenants for the apartment themselves, the amount can be much higher. This is a special support policy that appears for the first time on the market, ensuring absolute profits for investors.
In addition to the "huge" profit commitment program, Legacy Prime also made waves in the market when the special product basket had prices starting from only 900 million VND/apartment. Customers only need to pay 99 million VND to sign an apartment purchase contract, receive support for loans up to 80%, a 36-month principal grace period and enjoy 0% interest until receiving the house.
According to the investor's plan, customers who buy Legacy Prime will receive their houses before Tet. A representative of Kim Oanh Group said that at the time of handover, the value of the apartment is likely to increase by 10-15%. After the committed time to rent the apartment, reselling for profit is also a feasible solution when the real estate market is entering a recovery cycle, in line with the development speed of infrastructure in Thuan An City. The most prominent of which is the Ring Road 3 adjacent to the Legacy Prime project, which is being accelerated in construction speed.
Regarding the living space of Legacy Prime, Mr. Duy Phuc, a customer who just bought a 2-bedroom apartment, highly appreciated the project for integrating a system of more than 30 diverse utilities, fully meeting the daily enjoyment and relaxation needs of residents. These include a shopping mall; gym, yoga room; outdoor sports area; swimming pool; BBQ area; children's play area; kindergarten...
“In the context of the market 'extinction' of projects priced under 1 billion VND/unit, choosing to buy an apartment in a beautiful location, well-planned, with full amenities for only 900 million VND is sure to bring great profits. Even though I am not a professional investor, I can still see a bright prospect for the market in the coming years, so I decided to 'put down money', even if I don't live there, renting it out is still very promising", Mr. Phuc shared.
Lam Anh
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