Binh Duong Apartments Resell 25% Cheaper Than New Units
Secondary apartments in Binh Duong are 25% cheaper than newly launched projects, reflecting a growing gap due to rising development costs and shifting buyer demand.
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Binh Duong Resale Apartments 25% Cheaper Than New Builds
In a new report released by Batdongsan, the residential market in Binh Duong continues to experience a notable price divergence between primary and secondary apartment products. While the average price of newly launched apartments in the province has reached around VND 45 million per square meter, resale apartments are trading at a much lower price point, averaging just VND 36 million per square meterāa discount of 25%.
Over the last decade, primary prices in Binh Duong have surged by 112%, while secondary prices have grown by only 10%, reflecting a growing imbalance. This price gap has become more evident since 2021, especially as new projects from major developers enter the market with higher pricing due to land use fees, rising construction costs, and improved amenities.
Price Gap Widens Between Primary and Secondary Markets
According to DKRA Group, Binh Duong apartments currently range from VND 28 to 60 million per square meter. Older buildings tend to fall between VND 28-40 million, while new developments, especially in prime locations, are now being priced between VND 35-60 million.
Ms. Cao Thi Thanh Huong from Savills HCMC explained that the secondary market has been slow to recover after a deep wave of discounted resales during 2022-2023. Meanwhile, primary prices have continued climbing, creating a wider divide.
Why Secondary Prices Are Falling Behind
The affordability gap is a critical factor. Mr. Son Hoang, Deputy Director of Valuation and Consulting at Knight Frank Vietnam, noted that more than 90% of unsold inventory in the market consists of mid-to-high-end properties with an average asking price of USD 3,648/m2 (over VND 91 million)āa price tag that puts them out of reach for most local buyers.
Budget apartments priced below VND 55 million/m2 account for just 10% of the inventory, and many of these are 3-bedroom units, which naturally command higher total prices (over VND 3 billion), making them less appealing to entry-level buyers.
Market Outlook and What Investors Should Know
While the price gap is currently skewed in favor of buyers looking for bargains in the secondary market, this dynamic may evolve. Binh Duong is undergoing major policy shifts, including potential administrative merger into Ho Chi Minh City, which could spur long-term appreciation.
To maintain liquidity, investors are advised to avoid chasing peak prices and instead aim for moderate returns to ensure units are not left idle. The smart play may lie in value-driven projects with sustainable pricing rather than speculating on hot launches that may be overpriced relative to buyer demand.
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