HCM City , Dec. 23 (VNA) — Southern Binh Duong province''s residential property market is continuing to buck the trend of falling prices that is clouding the horizon for the real estate sector elsewhere in Viet Nam. The province hopes to further develop the property market in new residential zones in Binh Duong city. Le Minh Tam, deputy director of Becamex TDC, the company in charge of developing infrastructure in the Binh Duong New City zone, said most of the infrastructure work was completed, including building of inner roads and IT systems. Houses and apartments in the city have been up for sale, although no land plots will be on the market, said Tam, adding that the city will develop its social infrastructure, including education and health care services. In the third quarter of this year, five new apartment and residential land projects were launched in Binh Duong offering more than 1,400 units. This made the number of units available in the southern province to around 24,400 across 71 projects, a study released early this month by property service provider Savills Vietnam said. Three-quarters of the projects are located in Ben Cat district, Di An town and Binh Duong New City, with Ben Cat alone accounting for 43 percent. The average asking price was 1,100 USD/sq.m for an apartment, 900 USD for villas and town houses, and 120 USD for land. With its relatively cheaper prices compared to HCM City and Hanoi , Binh Duong''s residential segment attracts not only local buyers but also those from other cities and provinces, especially from the country''s two largest cities. Eighteen projects are expected to hit the market soon with more than 8,800 units across all segments./.
Source: Vietnam News Agency
