Apartments for rent in Binh Duong are still very rich in potential

Potential apartments for rent in Binh Duong

Binh Duong is considered one of the largest industrial centers of Vietnam. This industrial capital currently has 28 industrial parks and 10 industrial clusters in operation, attracting 45,000 foreign experts, engineers and nearly 1 million high-tech workers to work in factories. Each year this figure continues to increase from 20-25%.

In 2022, Binh Duong’s urbanization rate reached 82%, far exceeding the national average of only 40%. This is also the locality with the highest rental demand in the country with 74.5%. The above figures have made Binh Duong become a “promised land” of apartment investors for rent.

According to some experts, in recent years, Binh Duong is welcoming a wave of population movement from Ho Chi Minh City. The reason is that real estate prices in Ho Chi Minh City are constantly increasing, making many people tend to come to Binh Duong to be able to buy a house. If financial accumulation to buy a house is still low, many young people also choose to rent a house in Binh Duong to save costs and have a more comfortable living space. Every day they still move to work in Ho Chi Minh City normally.

On the other hand, apartments for rent in Binh Duong also attract a large number of foreign experts and engineers working in industrial parks. These are very potential tenants, continuously increasing with the wave of foreign investment rushing into Binh Duong.

After the Covid 19 pandemic, the demand for apartments for rent in Binh Duong has remained quite stable. The profit margin from apartment rental is assessed to be on par with Ho Chi Minh City.

The survey shows that currently the rental price of a two-bedroom apartment in Thuan An, Di An area averages about 7-8 million VND/month (empty house). For furnished apartments, the average rent is from 9-14 million VND/month. Investors tend to buy affordable apartment projects, with an area of 1-2 bedrooms, priced at about 1-2 billion VND/unit for rent.

Not only leasing, many investors in Binh Duong real estate market also take into account the profit difference when selling apartments in the future, after the rental exploitation period. Investment in apartment rental has a profit rate of about 6% / year, but the profit from the apartment price difference can be up to about 30-40%. 

Mrs. Huynh Giang, Head of Research Department of Savills Vietnam, said that the Binh Duong apartment market still has a lot of potential for development. Apartment prices in this area are still quite far from the price level in Ho Chi Minh City. Meanwhile, Binh Duong’s infrastructure is developing strongly, services and utilities are invested no less than Ho Chi Minh City. This factor ensures strong real estate prices growth over time.

Choose the right project for profit synergy

The record shows that Binh Duong market continues to receive a fairly abundant supply of apartments. The level of customer interest in the apartment segment also maintained well. In particular, some projects with complete legality, fast construction progress and sales policies with many practical incentives are attracting a large number of real buyers and investors.

One of the brightest projects is Kim Oanh Group’s Legacy Prime apartments. Located in the heart of Ho Chi Minh City. Thuan An, adjacent to AEON Mall, Legacy Prime is considered to own a prime location because it is surrounded by arterial roads such as Ring Road 3, Binh Duong Avenue (National Highway 13), My Phuoc – Tan Van Avenue, DT 743 and DT 746. This is also a project that many investors buy to exploit for lease because it is very close to large industrial parks such as Viet Huong, Song Than, VSIP 1 …

More “sure to win”, Legacy Prime is also committed by the investor to lease for a period of 36 months with a maximum total value of up to VND 216 million. Even customers who choose to receive housing are still entitled to 50% of the rental commitment. If the customer chooses to receive 50% of the rental commitment from the investor, then find tenants for the apartment themselves, the amount can be much higher. This is a special support policy that first appeared on the market, ensuring absolute profits for investors.

In addition to the “huge” profit commitment program, Legacy Prime also made waves in the market when a special shopping cart was priced from only 900 million VND / unit. Even customers only need to pay 99 million VND to sign an apartment purchase and sale contract, be supported with loans up to 80%, grace the principal of 36 months and enjoy 0% interest rate until receiving the house.

According to the investor’s plan, customers who buy Legacy Prime will be handed over their homes before Tet. Representative of Kim Oanh Group said that at the time of handing over the house, the apartment value is likely to increase by 10-15%. After the commitment period to rent apartments, reselling for profit is also a positive solution when the real estate market is entering a recovery cycle, resonating with the development speed of infrastructure of Thuan An City. The most prominent of which is the Ring Road 3 adjacent to the Legacy Prime project which is being accelerated construction speed.

Regarding the living space of Legacy Prime, Mr. Duy Phuc, a customer who has just bought a 2-bedroom apartment, highly appreciated the project when integrating a system of more than 30 diverse utilities, fully meeting the daily enjoyment and relaxation needs of residents. This includes shopping malls; gym, yoga; outdoor sports areas; swimming pool; BBQ area; children’s play area; preschool… 

“In the context of the ‘extinct’ market, the project costs less than VND 1 billion / unit, choosing to buy an apartment with a beautiful location, well-planned and full utilities with a price of only 900 million VND is guaranteed to have great profitability. Although I am not a professional investor, I can still see the bright prospect of the market in the coming years, so I decided to ‘down the money’, even if I do not live, the rental is still very positive”, Mr. Phuc shared.

Lam Anh