Binh Duong market 'heats up' with many new projects about to launch

According to data from Savills Vietnam, the supply of the southern market will gradually recover in 2024. Of which, Binh Duong and Dong Nai with large land funds will have more than 6,000 villas, townhouses and more than 9,000 apartments.

It is noted that in Binh Duong, there are a series of apartment and low-rise housing projects that will be launched by investors in the near future, mostly concentrated in key cities of the province such as Thu Dau Mot, Di An, Thuan An to take advantage of the increasingly strong demand in these areas.

For example, in Thuan An, some projects expected to be launched in the near future such as Binh Duong Tower, Sym Life, A&T Sky Garden have been able to bring more than 3,000 products to the market. In Di An, projects such as Phu Dong Sky One 2, Bcons Binh Thang, The Gio, Happy One Linh Xuan, Fresia Tan Van... are also expected projects with thousands of products to meet the market's "thirsty" supply demand.

Binh Duong market heats up with a series of new products about to launch image 1 — Binh Duong will welcome the launch of many new projects in the coming period.

In addition to the upcoming products, in the Binh Duong market there are still many projects in the opening stage and have been favored by customers and investors in recent times because of the price of only around 30 million VND/m2. This is also the advantage of this market in the difficult market period, especially when Ho Chi Minh City no longer has any housing products priced at only about 1.5 billion VND/unit.

In addition to buying for living, many investors also aim to buy for rental business when the demand for renting houses in areas such as Di An, Thuan An or Thu Dau Mot is still very high. Thanks to these reasons, the Binh Duong market has recorded earlier recovery of liquidity for apartment buildings compared to other markets.

However, many opinions say that this market will not be able to maintain stable prices as in the first half of 2023. Because among the projects expected to be opened for sale in 2024, many projects have revealed selling prices of over 40 million VND/m2.

Market data for the third quarter of 2023 from DKRA Group also showed that the lowest price of apartments in Binh Duong is nearly 30 million VND/m2, while the highest price has reached 49 million VND/m2, a price equivalent to many apartment projects in the suburban areas of Ho Chi Minh City.

Meanwhile, the demand for housing in Binh Duong is still increasing as this "industrial capital" continues to develop its advantages in the coming time. Accordingly, up to now, Binh Duong has 29 industrial parks in operation with an occupancy rate of over 90%. According to the industrial park land use plan for the period 2021 - 2030 and the industrial park land use plan for 2022, by 2050, there will be 46 industrial parks in Binh Duong province.

Binh Duong market heats up with a series of new products about to be launched image 2 — The strong development of industrial parks with an increasing number of FDI enterprises is one of the factors increasing the demand for housing in Binh Duong.

With the orientation of strongly developing industrial parks and being in the top of FDI attraction in the country, Binh Duong is attracting a large number of experts and workers to work and live in the area. Therefore, the demand for housing in areas with many industrial parks such as Thuan An, Di An, Thu Dau Mot, Ben Cat is always high and becomes a potential market for real estate developers.

With the above factors, many opinions say that apartment prices in Binh Duong market will show signs of heating up in the coming period, leading to price increases of other types. This market will still have affordable products but they are no longer as attractive as before.

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