Foreigners buy 642 apartments in Binh Duong province

Data from the Binh Duong Department of Construction shows that there are currently 22 residential housing projects in the province that have been permitted to sell to foreign organisations or individuals.

Under the currently Law on Housing, foreigners in Vietnam are restricted to purchasing a maximum of 30 per cent the total units available in a single apartment building.

The total number of units available for sale to foreign buyers has added up to 1,812. 642 units have found their owners and 308 of them have now been granted with the property ownership certificates.

The city of Thu Dau Mot in Binh Duong alone has 11 projects that are qualified to sell to foreigners, with 771 units available as foreign quota. Of these, 130 have been sold and 69 have been granted with the certificates.

Thuan An Town, meanwhile, has eight property projects with 727 units available for sale. 377 of them have been sold and 174 have been issued with the title to the apartment.

Apart from the properties in these two key locations, there have been a few others in the communes of Di An and Ben Cat.

Of these properties, the Habitat project initiated by VSIP-Sembcorp Gateway Development Co., Ltd. has been the most attractive one among foreign buyers. Apartments built in the first two phases of the project have totaled 216 units and 171 have so far been sold to foreign buyers.

The Sora Gardens I apartment project developed by Becamex Tokyu Co., Ltd. in Thu Dau Mot City has also sold out most of its foreign quota. This Japanese-invested property has been allowed to sell up to 120 units to foreign buyers and to date sold 78 units, of which 69 have been issued with the ownership certificates.

Like these two properties, the Canary Heights owned by Guocoland Binh Duong Co., Ltd. have offloaded 124 out of a total of 126 units to foreign buyers and 130 of them have received the ownership titles.

The southern province of Binh Duong has always been in the top cities and provinces that attract the highest number of foreign investments. In the first half of the year, it drew in $1.45 billion of registered capital, up 70 per cent on-year.

Binh Duong has 29 industrial parks with the occupancy rate of 82.9 per cent and 12 industrial clusters with the occupancy rate of nearly 70 per cent. The province has been among the towns that attract quite a lot of expats to come to work.