Binh Duong property market still bustling

While the condo market remains sluggish, those for street houses and villas in the southern province of Binh Duong seem to be more bustling as property investors keep launching new products there.
Becamex Urban Development Joint Stock Co., or Becamex UDJ, on Thursday inked a deal with Kim Oanh Real Estate Joint Stock Co. to develop the Golden City project and introduce it to buyers.

The two enterprises will invest around 350 billion dong in the project, which will cover a total area of seven hectares along the My Phuoc-Tan Van Expressway, one of the most important roads in the province.

The project will offer around 460 villa and house land lots. Each one is measured from 100 to 300 square meters and priced from 1.6-2 million dong each square meter.

Earlier, Kim Oanh Co. has cooperated with Binh Duong Trade and Development Joint Stock Company, or Becamex TDC, to develop City Garden project in Ben Cat District with the total investment of 100 billion dong. The project will cover 7.5 hectares with 339 houses priced from 1.6-2.2 million dong a square meter.

Kim Oanh said it sold all land lots of the project within just a month during two sales in August.

Meanwhile, Malaysia-based S P Setia Group will on Friday launch the sale of EcoXuan Lai Thieu residential area with villas and commercial areas.

The investor will focus on houses and villas with the prices of 2-4 billion dong each.

A market survey of Savills Vietnam shows that 10 projects with 1,800 condos and land lots were launched in Binh Duong as of the end of August. The province now has 68 projects in both primary and secondary markets, providing 22,700 condos and land lots. Of which, land products makes up 56% of the total market, concentrating in Thu Dau Mot, Thuan An, Di An, Ben Cat districts and Binh Duong new city.

The price of houses and villas there averages at 43.5 million dong per square meter while that of land lots is 3.3 million dong a square meter. House prices are in a rising trend while land lot prices stay unchanged from early this year.

Savills expects to see around 5,600 condos and land lots from 16 projects launched onto the market in the coming time.

Saigon Time Daily

Tags: Binh Duong property market