Property still sells in southern province

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Báo Tuổi Trẻ English - 36 month(s) ago 7 readings

Property still sells in southern province

While the condo market nationwide remains sluggish, street houses and villas in the southern province of Binh Duong are still bustling with new products.

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Becamex Urban Development Joint Stock Co., or Becamex UDJ, have recently 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 VND350 billion 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 VND1.6-2 million each square meter.

Earlier, Kim Oanh Co. worked with Binh Duong Trade and Development Joint Stock Company, or Becamex TDC, to develop the City Garden project in Ben Cat District with the total investment of VND100 billion.

The project will cover 7.5 hectares with 339 houses priced from VND1.6-2.2 million 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 SP Setia Group will launch the sale of EcoXuan Lai Thieu residential area with villas and commercial areas on Friday. This investor will focus on houses and villas with the prices of VND2-4 billion 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 these, land products make up 56 percent 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 in Binh Duong averages at VND43.5 million per square meter while the average of land lots is VND3.3 million a square meter.

House prices are rising 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 in this the market in the near future.

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