Binh Duong Real Estate Changed The “Taste”

Many disputes between buyers of land or houses and businesses in the past have made many people more hesitant before making investment decisions.

Now, only some projects having legal papers and methodical infrastructure investment and prestigious investors or brokers have attracted many customers.

Finding a safe investment

The “hot” development of the real estate market in HCM City last time has included potential risks for investors. Even, many projects which have not completed the legal and infrastructure which has not been built have bought and sold. Consequently, many customers who buy these products have “run aground” when they couldn’t receive the land under the contract, and this leads to disputes and litigation.

Tran Cong Ninh, an investor in Ho Chi Minh City, said that he had bought two plots of land in District 9 nearly one year ago and  been signed the contractual commitment that the seller would be supposed to deliver it to him within 4 months after the completing of the payment procedure but he has not had a red book yet.

Similar to Mr. Ninh, in a project land crisis, many customers have accepted the risk of buying land in the projects that have not been invested in infrastructure. Many customers pre-pay most of the money under the contract but until now they still have not received their land.

Customers start looking to buy the projects of the investor because of the investment, basic infrastructure, many utilities and legal transparency.

Mai Hoa, who a buyer of project land in Binh Chanh has not received the land for more than a year, lamented: ” because of the observation of many people making a quick profit and brokerage news, I lost most of my money saved for tens of years while I have lived in the rental home. Thus, it is great for anyone who needs to buy land at this time to choose to buy the project of the branded owner or brokers to avoid the ” spending money on a quack doctor and only getting worse” like me.”

The market survey shows that since the beginning of the second quarter when the land demand reaching a peak and great potential risks, some customers began to change their way of investment. They have sought big projects, prestigious investors and complete infrastructure projects to invest their capital. In addition to Dong Nai, Binh Duong market has attracted more and more customers due to the recognition of a high range of prices.

“The fluctuation of prices in Ho Chi Minh City are unpredictable so I am looking for the way to sell my land out. My next goal is to invest in Binh Duong because real estate prices here are still soft. Moreover, the Binh Duong infrastructure has developed very well, and many large enterprises have been investing in this, so the real estate market will be promised increasing its prices soon, ” Ninh said.

It is known that Ninh and some his friends are exploring some projects in Ben Cat town because they suppose that this is a very developing area of Binh Duong and is being expanded to become a second-class city by 2020.

A fragile hope

According to Dang Thi Kim Oanh, General Director of Kim Oanh Real Estate Joint Stock Company, because of the breakthrough development of infrastructure, many manufacturing establishments located in Binh Duong have led to huge demand for housing for workers, managers, experts in and outside the country.

With the current high rate of investment and economic growth, it is forecasted that the demand for houses in Binh Duong will be in the boom stage in next few years.

In addition, the Binh Duong provincial government is gradually developing smart urban orientation and improving transport infrastructure, urban refurbishment, education and medical, etc. Especially, it is planned to put Binh Duong into a centrally-run city by 2020. This will not only create a new face for Binh Duong but also stimulate the Binh Duong real estate market “taking off”.

Prefabricated products priced at 600-800 million VND / unit are very popular with buyers.

However, Oanh also said that this time Binh Duong real estate market was filtering so choosing the projects having safe investment and profitability was what customers should carefully consider. Accordingly, buyers are supposed to choose large-scale projects, reputable developers, locations in crowded residential area or administrative center, well planning, synchronous infrastructure, etc to be able to stay and business profitably.

There are currently a number of large projects in Binh Duong preparing to sell such as Mega City urban with the area of 50 hectares, An Dien commercial urban built in area of 9 hectares, etc. These are projected land and pre-built projects located in the heart of Ben Cat town, adjacent to the new Binh Duong city, with good traffic connections such as National Highway 13, National Road 14, DT 744, DT 748, DT 749, etc. At the same time, these projects are closed investment, including full of facilities, completely invested infrastructure, and the price is only from $21,739 – $34,782 to meet the needs of the majority of residents.

In addition, some previously announced projects of foreign companies such as Tokyu attract also investors but the price is much higher.

Commenting on the real estate investment potential of Binh Duong, Ton That Khiem, Deputy General Director of Marketing – Communications Kim Oanh Company, said that the general psychology of most Vietnamese people had owned the house and land with potential of increasing value to make a “save” for their grandchildren. Therefore, projects such as Mega City or An Dien will attract the great attention of many people because it is the central location, full of facilities and profitability.

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