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Bien Hoa real estate: Land prices seen rising sharply at year-end
Wednesday,  Dec 20, 2017,12:41 (GMT+7)

Bien Hoa real estate: Land prices seen rising sharply at year-end

By the end of 2017, the billion-dollar capital flows are massively flocking to Bien Hoa after the decision to extend the Metro Line No. 1 to the center of Bien Hoa City, causing land prices here to increase “dizzily”.

The decision to extend the Metro line to Bien Hoa is expected to create a positive sign for the Bien Hoa property market.

Surging trades

At present, Bien Hoa housing prices are increasing sharply. In many areas, prices simultaneously increased by 20 - 30% in comparison with early November, and doubled or even tripled versus early 2016. Likened to Nguyen Hue Avenue in Saigon, Vo Thi Sau Street - home to many high-end buildings occupied by most expats in Bien Hoa City – has its vacant land price currently being traded at VND60-90 million dongs per square meter, rising by 50% - 60% compared to the beginning of 2016. In recent weeks, land prices here have continually increased after the breaking news about one leading Malaysian corporation prepared to launch the world-class Topaz Twins apartment complex in the market for expats.

Dong Khoi Street and Pham Van Thuan Street also enjoy the price ranges of up to VND50 - 90 million/m2. Some other prime locations in Bien Hoa, such as 30/4 (VND50-70 million / m2), Cach Mang Thang Tam (VND50-80 million /m2)... have seen prices increase by between 60% and 120% compared to early 2016.

The general director of an agency in Bien Hoa said that in the last months of the year, the number of Saigon customers seeking to buy houses or land in Bien Hoa has increased by 9-10 times higher than usual. Besides the townhouse and inexpensive vacant land, high-end apartments for rent to expats are currently the hottest product line today because of its high demand while its supply is very rare.

The apartment market is even "hotter"

In the last month of 2017, Bien Hoa will welcome more than 3,000 luxury apartments entering the market.
First of all, Berjaya D2D Vietnam, a Malaysian-based multinational corporation, will introduce a package of more than 700 international standard apartments to expat specialists in the Topaz Twins project, averagely valued at VND1.3 billion per unit. This project is located in the center of Bien Hoa City, right on the bustling Vo Thi Sau Street.

In the near future more than 700 international standard apartments of Topaz Twins for expat specialists will be available in the market.

Topaz Twins has a lot of green spaces alongside its smart, environmentally friendly designs. Especially, this is a project of convergence of high-class facilities to meet the international standards of living for expat specialists such as sky garden complexes and water features at the heart of the project, infinity swimming pools, aqua gym, shopping center, restaurants, sauna, happy gardens dedicated to children, and other facilities and amenities. It is expected that when completed Topaz Twins will become one of the projects with expat tenants taking the highest proportion in Bien Hoa.

Following Topaz Twins, a Japanese business will also pour VND872 billion dong into an apartment and shopping center project with more than 400 units in Bien Hoa Downtown. In addition to the two "foreign giants" above, the announcement ceremony of more than 1,200 Samsora Riverside apartments will also be held in late December by Samland.

Excavating the gold mine of billion dollars

Besides the impetus from the Metro line, Dong Nai real estate also has advantages such as having large population, being home to 20 large industrial zones with more than 25,000 foreign experts, so the demand for high-end apartments in Bien Hoa is great. The supply of apartments is not enough to meet the demand, enticing real estate moguls to pour investment into Bien Hoa.

Statistics show that the one-bedroom apartments in the above-mentioned projects offer a minimum rental price of about VND 8-12 million per month, while the current occupancy rate is almost 100%. It is estimated that apartment investors can earn the returns of over VND100 million annually on each apartment.

With the investment cost of more than VND 1 billion/unit, the profitability of an apartment for rent in Bien Hoa is in the range of 9-10% /year, many times higher than that in other big cities.

Promising a high profit while the land fund for developing serviced apartments for expats in Bien Hoa is no longer plentiful, it is no wonder why the high-end projects in Bien Hoa get their products almost fully booked in advance.

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