The property market in Bien Hoa City in Dong Nai Province has been booming in the last few months.
The property market in Bien Hoa City in Dong Nai Province has been booming in the last few months.
Prices of properties located near HCM City have increased by 10–20 per cent since Tet (Lunar New Year), while in the city centre they have increased by 10–25 per cent on average, though in some places they have gone up by 60 per cent.
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| Bien Hoa City’s land and property has been rising in demand and value due to ongoing infrastructure improvements, being adjacent to HCM City and fast economic growth. — Photo thanhnien.vn |
Many urban area projects are underway in the city such as Biên Hoà New City and Paradise Riverside, livening up the property market.
The city received US$902.6 million worth of investment in the first half of the year, 141 per cent higher than last year.
Due to the province’s ability to attract investments, many skilled local and foreign workers live in Biên Hoà, driving up demand for property.
As a part of the southern key economic zone, the city has been growing steadily at 12-15 per cent a year, with its industrial and services sectors growing strongly, and having a high average income.
The city is also the economic and administrative hub of Dong Nai Province and situated close to HCM City’s eastern part near its major industrial parks.
This has added value to land prices in Bien Hoa, especially with construction of the Long Thanh International Airport slated to begin at the end of 2019.
Connectivity is also improving greatly, with easy links to key economic areas such as HCM City and Vung Tau, together with several traffic works getting underway, boosting value.
One such project is the HCM City metro line No 1 (Ben Thanh–Suoi Tien) extending to Bien Hoa and Binh Duong Province’s Di An Town.
Other ongoing projects include the Ben Luc–Long Thanh Highway connecting with existing highways and the Bien Hoa–Vung Tau Highway, which will help reduce distances between Biên Hoà and other cities.
The upcoming river tour in Dong Nai Province and the Long Thanh Golf Club are other factors making the demand for Bien Hoa property increase.
The population of the city is 1.2 million.
(Source:VNS)
