Dong Nai province’s property projects are selling well in stark contrast to a lackluster market.
On March 25, developer Dat Xanh Group placed 200 land plots under 26.5 hectare Gold Hill project in the province’s Trang Bom district on sale. With prices averaging VND2.9 million to VND4 million ($138-$190) per square metre, entire land plots in this first round were sold out on the first day.
“What happened surprised not only property businesses, but us also,” said the group’s chairman Luong Tri Thin.
On the same day, Kim Oanh Real Estate Company aired plans for the Bien Hoa Dragon City II project in Bien Hoa city’s Tam Phuoc commune. With prices averaging from VND2.6 million to VND3.8 million ($120-$180) per square metre, more than 70 per cent of 250 land plots on offer were bought out by customers on the first day of launching, according to the company’s director Dang Thi Kim Oanh.
The project’s first launching took place in late February which saw 250 land plots taken by customers within just few hours and 300 plots were sold out in the first three days.
Land plots for building villas under East Saigon project in Nhon Trach district’s Phu Thanh and Long Tan communes were also hunted for by customers.
Director Nguyen Hoang Linh at Hoang Linh Real Estate Company, distributor of products under East Saigon project, revealed customers’ interest in the Nhon Trach project rose remarkably in number after the Lunar New Year.
“The property price in Nhon Trach shed 30-40 per cent compared to that several years ago now averaging VND1.5-2 million ($71-$95) per square metre, a soft price compared to other locations,” said Linh, adding that Phuoc An port, positioned in Nhon Trach district and soon entering into service, had inspired investors.
Thin attributed investors’ interest in Dong Nai property to current favourable pricing terms, provincial developed infrastructure and convenient transport.