There are many projects for sale on the market but few projects are due for handover.

According to statistics recently announced by the Department of Construction of Binh Duong province, from March 2016 to July 15, 2024, there are 112 housing projects in the area that are eligible to sell future housing, with a total of nearly 58,700 products.

From the beginning of 2024 to now, the province has 5 projects eligible for sale according to regulations.

Although many projects have been opened for sale, the number of products delivered is not high, including many projects that have been opened for sale for many years but have not yet been completed.

Since 2019, the Binh Duong real estate market has exploded as dozens of new real estate projects have been opened for sale and construction. Specifically, the Dai Phu apartment project in Dong Hoa ward, Di An city was offered for sale with a deposit contract in the period of 2019 - 2020, expected to be handed over at the end of 2023. However, the project currently has 6 blocks and is currently only building 7 - 10 floors, the entire project has stopped construction since 2023.

Another project that has been on sale since 2019 is Astral City in Thuan An City. The project covers an area of ​​3.73 hectares, including 8 40-storey buildings with nearly 5,000 apartments, with a total investment of VND 8,282 billion, developed by Danh Khoi Group. However, the project is currently only under construction up to the 10th floor and after a long period of construction suspension, the project is currently under construction at a standstill.

Also opened for sale in 2020, the project named Lavita Thuan An is invested by Thuan An Real Estate Joint Stock Company. The project has 4 apartment blocks from 33 to 38 floors high, with a total of 2,477 apartments. However, the project has almost completed the rough construction but had to stop construction in 2023, and is now starting to rebuild.

Or the LDG Sky project in Binh Nguyen New Urban Area, Di An City, built on an area of ​​over 20,000m2, including 5 30-storey apartment towers, with 1,659 apartments. The project, invested by LDG Company, was opened for sale since 2018, with the plan to hand over houses by the end of 2023. However, this project has stopped implementation after building the basement.

In addition, from 2023 to present, a series of investors such as Bcons Group, Phuc Dat, Le Phong... are also developing real estate projects in Binh Duong and projects are under construction.

Quarter IV/2024 will welcome 2 projects for house handover

According to the investigation of the reporter of the Investment Electronic Newspaper - Baodautu.vn , in the fourth quarter of 2024, there will be a project to hand over houses, quenching the thirst for housing for the Binh Duong market. Phu Dong Real Estate Joint Stock Company (Phu Dong Group) said that in October 2024, it will hand over houses to customers at the luxury apartment project called Phu Dong Sky Garden. The project was opened for sale from the beginning of 2023, built on an area of ​​​​over 6,000 m2 on An Binh Street, Di An City. With 2 apartment blocks 27 floors high, the project includes 640 apartments with an area of ​​​​2 to 3 bedrooms.

Phu Dong Sky Garden project is expected to be handed over in October 2024.

Another project is scheduled to be handed over at the end of the fourth quarter of 2024, called Bcons Polygon, a class C project with 764 units built on an area of ​​over 5,000 m2, including 1 and 2 bedroom product lines.

Mr. Nguyen Viet Hung, General Director of Westland Real Estate Joint Stock Company, said that there are not many projects with stable construction progress and handover this year in Binh Duong, not meeting the increasing demand of the market. The number expected to be handed over this year can be counted on the fingers. This makes it difficult for customers who want to buy a house to choose a satisfactory and affordable apartment.

Mr. Hung also said that the projects that are about to be handed over are opportunities for customers to live in, receiving great attention from customers. This product line helps customers feel more secure when "putting money down" in the situation where many projects are behind schedule in the market.

Ms. Nguyen Huong, General Director of Dai Phuc Real Estate Joint Stock Company, said that in the last months of the year, the market is having many positive changes, especially the moves of banks to lend preferential capital and disburse large amounts of money, which are opportunities for investors. After a period of market stagnation due to projects being stuck in legal and credit issues, investors tend to consider more carefully, looking to buy projects with full legal documents to minimize risks.

“In the past, when the market grew strongly, many people rushed into real estate, so newly opened projects in the form of future formation would be sought after by customers to buy. At that time, customers chose these projects because of the high profit margin. However, the problems of some projects caused many people to change the way they invest in real estate,” Ms. Huong said.

Mr. Vo Hong Thang, Director of the real estate market research department of DKRA Group, said that buying projects that are under construction and about to be handed over at the present time is attracting the attention of investors. Secondary transactions and transfers are still very active. This shows that customers are gradually prioritizing projects with proper legal procedures to limit risks and accept lower but sustainable profit margins. This is also what businesses and authorities are aiming for.