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Over the past year, real estate companies announced a series of large scaled projects in areas surrounding HCMC such as Binh Duong, Dong Nai, Ba Ria-Vung Tau. Notably, most of the projects were possessed by HCMC-based investors. This showed that the city-based land price was very expensive. Moreover, demand on accommodation and hi-class project investment in the city was in saturation.

Along with advantages of prices, a series of infrastructure projects have been under construction such as HCMC-Long Thanh-Dau Giay express project, National Highway No.51 expansion project, Bien Hoa-Vung Tau railway project and so on. Especially, Bien Hoa city expansion project has helped Dong Nai province lure investors’ attention.

In early 2010, Dong Nai province real estate companies introduced 10 local real estate projects to the HCMC-based investors. Previously, many urban and residential quarter projects with the large scale were launched. In Tam Phuoc and Long Hung communes alone, Long Thanh district has so far had 4 large-scaled urban projects under construction. They include projects of the 305ha Aquacity urban area, 286ha Phuoc Hung urban area, 366ha Water-front urban area, 227ha Long Hung residential area. Besides, the 350ha Giang Dien eco-urban area and hundreds of other projects are under construction.  

However, many experts warned that investors should be cautious when investing in real estate market at this time and they need to learn carefully about legal framework and advantages of location, infrastructure connection. Other experts also advised investors on risks of stagnancy of some projects.   

Attraction of Binh Duong new city

A plan on removing Binh Duong provincial administration center to Binh Duong new city will be started in 2012. Therefore, land price in areas adjoining the new city is on the rise, a year on year 100% rise.

However, the sky-rocketing land price at resettlement areas of the new city makes investors hesitant because My Phuoc urban area-based land and house prices are decreasing significantly.

Real estate experts said that land prices at My Phuoc urban area depend on the progress of new city project. Therefore, if stagnancy of the new city project happens, its satellite urban areas of My Phuoc urban area will fall into freeze in prices. On the contrary, if the new city project is under positive construction, local real estate market will heat up. Therefore, selecting Binh Duong as a capital investment destination will be a wise choice.

Reported by N.Phuc – Translated by A.C