Binh Duong real estate stabilizes after a period of 'racing' with the market

According to the April real estate market report of Batdongsan.com.vn, the number of real estate listings in Binh Duong increased slightly by about 2%. Notably, many key types of this market such as apartments, private houses, townhouses and land all saw an increase in the number of listings in the past month. The strongest increase was recorded in the land category with 13% compared to the previous month, followed by townhouses with an increase of 9%, and apartments and private houses in Binh Duong with an increase of 3-4%.

However, in contrast to the number of listings, the demand for real estate in this market decreased by 4% compared to the previous month. Compared to March, the demand for buying and selling decreased in all types, especially apartments and project land.

Specifically, for the apartment type, the market in Binh Duong has a decrease of more than 10% in searches compared to the previous month, followed by project land with 8% and free land with a decrease of 6%. The remaining types such as townhouses and private houses also decreased by 2-3% in demand in April.

The real estate market in Binh Duong has cooled down after entering the second quarter of 2024.

In the rental real estate segment, apart from apartments with a 1% increase in demand, the remaining rental types all saw a decrease in demand compared to the previous month. Accordingly, the number of searches for townhouses in Binh Duong decreased by 9%, boarding houses decreased by 3%, and warehouses decreased by 2%.

The cooling trend of the general market also led to a decline in regional markets. For example, in Binh Duong's "hot spots" of Thuan An, Di An and Thu Dau Mot, the demand for real estate decreased by 3%, 7% and 6% respectively compared to the previous month.

Even Ben Cat, which officially became a city last month, did not record any positive changes in the demand for real estate. Compared to March, the number of searches for real estate in Ben Cat decreased by 9%, Bau Bang and Phu Giao districts were also two areas where the demand for real estate decreased sharply by 12% and 16% respectively compared to March.

Even the new city of Ben Cat has not shown any signs of change.

Only private houses and warehouses have seen a slight increase in demand compared to the previous month due to the advantages of the industrial "capital" of Binh Duong. It is forecasted that in the second quarter of 2024, real estate in Binh Duong is expected to have at least 10 more apartment, land and townhouse projects for sale, most of which are still the next phase of existing projects.

Although supply is still low, many experts predict that with Binh Duong's potential in attracting FDI and inheriting the demand of Ho Chi Minh City, this market still has the opportunity to increase in the second half of the year.

Binh Duong is currently the center of FDI attraction with 4,219 projects and a total registered capital of more than 40 billion USD in 2023 - ranking 2nd in the country. Disbursement of public investment capital reached 18,787 billion VND - more than 2.4 times higher than in 2022 and will continue to increase to 22,000 billion VND in 2024. In particular, Binh Duong New City is the center of public investment in the country with an investment of more than 10 billion USD.

Source: https://www.congluan.vn/thi-truong-bat-dong-san-tai-binh-duong-on-dinh-tro-lai-sau-giai-doan-chay-dua-post296800.html