Land lot projects in Binh Duong find more buyers
Similar to the apartment segment in HCMC which is offering price discounts to attract home buyers, owners of many land lot projects in Binh Duong have also lowered selling prices.
Over one month ago, land lots of the ijc@vsip project in Binh Duong New City were announced to be priced at some VND3.5 million per square meter. These land lots have an area of 150-300 square meters each.
However, at the launch of the project last Saturday, the project’s distributor Tac Dat Tac Vang Joint Stock Company said that the selling price of land lots was adjusted down to around VND3 million per square meter, or a 14% discount.
ijc@vsip invested by Becamex IJC and VISP consists of commercial houses, shopping center and other amenities in an area of 128 hectares.
Similarly, Kim Oanh Real Estate Joint Stock Company is also seeking customers by offering for sale land lots of the Ben Cat Center Point project in Ben Cat District and next to National Highway 13.
Invested by Becamex, BenCat Center Point covering some 55 hectares provides townhouse land lots which are of 100-3,000 square meters each and priced from VND200 million per unit. In addition to this project, Becamex is selling land lots of the Civilized City project.
According to Becamex, projects with reasonable and affordable products are attractive to customers. The firm has sold around 1,700 land lots in Binh Duong and Dong Nai provinces.
Truong An Duong, head of research and consultancy at Savills Vietnam, said that the most potential housing segment in Binh Duong Province is the one for medium-income earners.
A research by Savills Vietnam indicated that there were 49 apartment and villa-townhouse projects with some 11,000 apartments and land lots in Binh Duong as of August. Those projects are mainly located in Thuan An, Di An, Thu Dau Mot, Ben Cat and Binh Duong New City.
According to Savills, most of the housing projects in Binh Duong Province direct at customers who are State workers and home buyers from other provinces.
With a population of some 1.7 million and laborers accounting for 75%, Binh Duong Province is a potential market for property projects.
Japan-based Tokyu is also investing in an urban area worth US$1.2 billion in Binh Duong New City