Interest in the real estate market in Binh Chanh, Ho Chi Minh City increased sharply after positive information.

Not yet fully exploited

As a suburban district at the southwestern gateway of Ho Chi Minh City, Binh Chanh is considered the connecting point between Ho Chi Minh City and the provinces of the Mekong Delta. In recent years, Binh Chanh's traffic infrastructure has received a lot of investment and development, with capital flowing into projects to date estimated at about 5 billion USD.

Many major traffic routes run through the district such as Ho Chi Minh City - Trung Luong - My Thuan Expressway, Inter-Provincial Road 10, Nguyen Van Linh Street crossing the Saigon River to District 2 and going to Dong Nai, National Highway 50 connecting Binh Chanh District with Can Giuoc and Can Duoc Districts (Long An).

Thanks to the favorable investment in infrastructure development, Binh Chanh has become a bridge for economic exchange and road trade between the Mekong Delta region and the Southeast economic region and key industrial zones.

Interest in the real estate market in Binh Chanh, Ho Chi Minh City, increased sharply after positive information. Image 1 — Binh Chanh becoming a city will promote real estate development in the area.

In addition, with the largest population in the country, up to more than 800,000 people and being the third largest locality in Ho Chi Minh City, Binh Chanh has a lot of potential to develop strongly in the real estate sector but has not been fully utilized.

According to reports on housing development in Binh Chanh, there are currently 148 projects approved for investment. To date, 55 projects that have been delayed have expired, while 93 projects that are still in progress are still valid with a total area of 2.23 million hectares.

There are 46 projects in the Southern planning area with a total area of 1.18 million hectares, and 47 projects outside the Southern planning area with a total area of 1.06 million hectares. 50/93 projects have completed compensation with a total area of 548,560 hectares and 43 projects are behind schedule. In addition, Binh Chanh has issued 13,194 construction permits for individual houses, with a total floor area of 2.84 million square meters.

Once a bright spot in the market

Although it has not yet fully utilized its resources for development, Binh Chanh was once considered one of the few "bright spots" of the market during difficult times.

Specifically, in the context of the market lacking supply in the affordable segments, Binh Chanh is one of the markets that still has affordable products. Especially in the context of the price level in the central areas and the Eastern area of Ho Chi Minh City continuously increasing sharply, in Binh Chanh, the price level still has not fluctuated much. Therefore, it partly meets the needs of the housing market that needs products with reasonable prices.

Interest in the real estate market in Binh Chanh, Ho Chi Minh City, increased sharply after positive information. Image 2 — In Binh Chanh there are also many quality real estate projects.

In addition to the proposal to the city, Binh Chanh market is also affected by the event of starting construction of Ring Road 3, expanding and merging Binh Tan, handing over projects at good prices, making this market more vibrant than the general level. Thereby, many interests have been directed to this market with a steady increase in recent months.

Specifically, according to the August real estate market report of Batdongsan.com.vn, while some districts had negative growth in interest, Binh Chanh apartments in the second quarter increased by 8% in interest compared to the previous quarter, ranking 2nd out of 22 districts in Ho Chi Minh City.

This report also shows that the areas where Ring Road 3 passes through, especially the areas in Ho Chi Minh City and Binh Duong, recorded rapid growth, with dozens of projects being launched simultaneously. Buyers and investors have high expectations for the impact of Ring Road 3 on socio-economic and real estate growth.

According to Mr. Dinh Minh Tuan - Director of Batdongsan.com.vn in the South, the current selling price of apartments is fluctuating from 60 - 110 million VND/m2, not suitable for the real needs and affordability of people with average income, ordinary workers or office workers working in the city. However, contrary to the general level, Binh Chanh apartments currently have a soft price.

Interest in the real estate market in Binh Chanh, Ho Chi Minh City, increased sharply after positive information, image 3 — Market interest in Binh Chanh has increased steadily over time.

In addition, many experts also assess that the Binh Chanh market will continue to develop in the near future due to many positive information affecting the market, especially the development of traffic infrastructure that will be formed in the future.

For example, the Metro 3a Ben Thanh - Tan Kien (Binh Chanh) project has just been officially surveyed by the Japan International Cooperation Agency (JICA) to complete the project proposal and accelerate the implementation time. In addition, this year, some traffic junctions to Binh Chanh are also being implemented such as the 3.2km long Binh Tien bridge - connecting the center to Binh Chanh district to the South area, ...

With the above factors, in the near future, Binh Chanh will become one of the most interested real estate markets in the Southern region. This will also be the key point to help relieve the "thirst" for housing that is currently present in Ho Chi Minh City but has not found a solution.

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