Opportunity for Binh Duong real estate market to flourish

In the Binh Duong Provincial Planning for the period 2021-2030, with a vision to 2050 (Planning) just announced, Binh Duong aims to become a centrally-run city by 2030, in which urban development is the province's key task.

In the Binh Duong Provincial Planning for the period 2021-2030, with a vision to 2050 (Planning) just announced, Binh Duong aims to become a centrally-run city by 2030, in which urban development is the province's key task.

According to the Plan, Binh Duong province is divided into 3 dynamic development space areas.

Area 1 is Thuan An City and Di An City. These two cities will carry out urban reconstruction and renovation; relocate outdated and environmentally polluting industrial production facilities to the North of the province. Use the available space for a new urban model following the TOD orientation (taking the orientation of developing the public transport system as the basis for urban development planning, taking the traffic hub as the point of population concentration to form a further decentralized transport system) and supplement social infrastructure to turn Thuan An and Di An into modern cities with high quality of life.

Area 2 includes Thu Dau Mot City, Tan Uyen City, Ben Cat City and Bau Bang District, which will develop based on innovation, advanced technology, regional community services and smart urban areas as pillars for the province's growth.

Area 3 includes Bac Tan Uyen, Phu Giao, Dau Tieng districts, will form new generation industrial parks, attract the development of urban - industrial - ecological service models. Preserve and develop ecological corridors of Saigon River, Dong Nai River, Thi Tinh River... increase green coverage, develop renewable energy.

In particular, developing new urban and service areas in Tan Uyen, Thu Dau Mot, Di An, Thuan An, creating space to gradually redevelop existing urban areas, moving logistics activities to areas along Ring Road 4 in Ho Chi Minh City; developing new urban areas, complexes and industrial parks in Bau Bang, Bac Tan Uyen, Phu Giao districts, creating conditions for industrial production facilities in the South to move to the North of the province.

Develop innovation centers in Thu Dau Mot, Di An, Tan Uyen, Bau Bang, Ben Cat to create a dynamic space for science, technology, services and innovation.

According to Mr. Vo Hoang Ngan, Director of Binh Duong Department of Construction, the Provincial Planning shows a clear and comprehensive development perspective, goals and vision. This is a very important legal basis for Binh Duong to approve urban planning and construction planning levels. The urban development program of the whole province and the urban areas under the province; is the basis for determining key, focal and regionally linked projects, to concentrate all resources for investment, creating a driving force to promote Binh Duong urban development in a harmonious and sustainable manner.

Mr. Vo Huynh Tuan Kiet, Director of Housing Marketing Department of CBRE Vietnam, commented that the demand for mid-range apartments in Binh Duong is currently relatively good and has a stable growth trend.

Compared to big cities like Ho Chi Minh City, the price of mid-range apartments in Binh Duong is still quite "soft", suitable for the financial capacity of many people. The main customer groups in the Binh Duong market are young workers, newly married. They have the need to stabilize their lives and find a suitable place to live. In addition, people with average incomes, who want to own an apartment to live or invest, are interested in this segment.

According to Mr. Kiet, the Binh Duong market has many advantages to maintain stable housing demand development. Because Binh Duong is one of the key industrial provinces of the country, attracting many domestic and foreign investors. This leads to an increase in population, especially the young workforce, rapid urbanization and increasing income of people are factors that promote housing demand, especially the affordable apartment segment.

In addition, Binh Duong's transportation system is being invested in and upgraded, connecting conveniently with neighboring provinces and cities. This helps shorten travel time and facilitates commuting to work. In addition, the local government has many preferential policies to attract investment in the real estate sector, creating favorable conditions for the development of housing projects.

Mr. Dinh Minh Tuan, Director of Batdongsan.com.vn commented that Binh Duong is the main market welcoming the wave of population dispersion from Ho Chi Minh City. Besides investment demand, the number of customers buying for living, studying and working, mostly focus on products priced at about 30 million VND/m2.

“When the Ho Chi Minh City market lacks mid-range products, Binh Duong has emerged as an alternative market, attracting a large number of buyers with affordable housing needs. In addition, many investors in the low-end segment are also interested in this product group,” said Mr. Tuan.

Source: https://baodautu.vn/batdongsan/co-hoi-cho-thi-truong-dia-oc-binh-duong-khoi-sac-d228028.html