Frozen property market starts to thaw

Las weak, developer Becamex’s Green River project in Binh Duong province’s My Phuoc 4 area was launched with the sale attracting several hundred customers.

More than 100 land plots found customers on the first launch day, said director Hoang Anh Tuan at Tac Dat Tac Vang, the project’s distributor.

“For the first time since early year, customers paid such strong attention to Binh Duong’s property market,” Tuan noted, adding that soft investment rate and flexible payment were the project’s key advantages.

Kim Oanh Real Estate Company also held a lucky draw to grab customers and its director Dang Thi Kim Oanh revealed Kim Oanh sold 1,000 land plots this year at Binh Duong and Dong Nai province projects.

“From mid-May on, customers paid an increasing attention to these two locations and the property market shot up significantly,” said Oanh.

After two months’ sales around 400 products at Gold Hill urban complex project in Dong Nai province’s Trang Bom district developed by Dat Xanh Group found owners.

Dat Xanh Group’s chairman Luong Tri Thin said despite the rapid growth in the past months most properties in these two southern locations were just at investment and construction stage.

“Dong Nai would bring a new face after the Ho Chi Minh City-Long Thanh-Dau Giay expressway was put into use from 2013,” Thin said.

Besides, a string of important transport infrastructure projects in the province are now under accelerated construction such as a highway connecting Ho Chi Minh City with southern Ba Ria-Vung Tau province, Bien Hoa-Vung Tau railway and the future Long Thanh international airport.

Similarly, Binh Duong province has crafted a comprehensive infrastructure development strategy.

New Binh Duong city is now under intensive construction. Once completed, it would accommodate 125,000 residents and be the workplace of 400,000 people.

The My Phuoc-Tan Van highway will open to traffic in late 2012. Also within this year, Becamex IDC set to hook into building a flyover running alongside existing Binh Duong avenue.

Besides, by 2014 the provincial administrative and political centre twin tower will come in place. These all will help fuel the provincial property market.