Townhouses in these provinces “attract” more visitors than Ho Chi Minh City
Worried about money devaluation, investors took shelter in real estate, causing land-house transactions in many markets to increase sharply at the beginning of the year. The scarce land fund, the tight legal framework has caused a sharp decline in the supply of land-based houses in Ho Chi Minh City from 2020 until now.
However, the demand for this type of house has not decreased and the “cake” of land houses still brings huge profits from the strong demand of Vietnamese homebuyers.
This creates an opportunity for satellite towns such as Binh Duong, Dong Nai, and Long An to develop a series of large-scale villa and townhouse projects that pull purchasing power into this area.
According to data from Batdongsan.com.vn, from 2021 to now, with a large available land fund, reasonable land prices and increasingly improved infrastructure, Dong Nai, Binh Duong, and Long An are surpassing Ho Chi Minh City. Ho Chi Minh City in terms of both supply and transaction volume of land-based houses.
In 2021, the primary supply of Dong Nai is about 130% more than Ho Chi Minh City and the transaction volume is about 160% more than Ho Chi Minh City. Binh Duong and Long An also have high primary supply and transaction volume many times higher than HCMC.
It is expected that by 2024 Dong Nai will have more than 17,700 apartments, 105% more than HCMC. Long An is expected to have about 10,000 more units, Binh Duong about 7,400 units because the focus of this market is on apartments rather than land-based houses.
The report of Batdongsan.com.vn also shows that the demand for real estate search in provincial markets such as Long An, Binh Duong, Dong Nai, Ba Ria – Vung Tau increased by an average of 10-31% in January. 2022 and continue to record an uptrend of 17-25% in February 2022.
Particularly in the villas and townhouses segment, the search interest increased by 50-55% compared to the same period in 2021. In terms of supply, while in Ho Chi Minh City, the number of townhouses for sale increased by 24. % and mainly increased in the type of townhouses and some luxury products, the satellite markets recorded an increase in the number of products for sale by 25-75%.
This is also the main market supplying mid- and high-end villas and townhouses to the southern market in the first quarter of 2022. Consumption is concentrated mainly on projects developed by large, reputable and well-known investors in the market. The primary selling price of this segment also recorded an increase of 5-10% compared to the previous period.
In addition, the product structure in the provinces is also changing, with many high-end townhouse products worth tens of billions of dong, creating a new picture for the real estate market, changing criteria for real estate selection in the provincial market.
According to Mr. Dinh Minh Tuan, director of Batdongsan.com.vn in the South region, in the neighboring provinces of Ho Chi Minh City, the products in large-scale urban areas, methodically, with well-invested utilities still receive attention. great interest from buyers. Although there is a period of slowdown due to Covid-19, mainland real estate in satellite cities is forecasted to be still the trend of the future real estate market in the context of increasingly convenient transport infrastructure and The middle class is growing rapidly.
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
