HCM CITY — The property market in Biên Hoà City in Đồng 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 Tết (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.

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 Đồng Nai Province and situated close to HCM City’s eastern part near its major industrial parks.

This has added value to land prices in Biên Hoà, especially with construction of the Long Thành 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 Vũng Tàu, together with several traffic works getting underway, boosting value.

One such project is the HCM City metro line No 1 (Bến Thành–Suối Tiên) extending to Biên Hoà and Bình Dương Province’s Dĩ An Town.

Other ongoing projects include the Bến Lức–Long Thành Highway connecting with existing highways and the Biên Hoà–Vũng Tàu Highway, which will help reduce distances between Biên Hoà and other cities.

The upcoming river tour in Đồng Nai Province and the Long Thành Golf Club are other factors making the demand for Biên Hoà property increase.

The population of the city is 1.2 million. — VNS