Land prices are going up all over the country of Vietnam, but a curious intersection of circumstances have made fortunes overnight for property investors that were lucky enough to have invested in the Vietnamese province of Binh Duong.
Located in the southern part of the country, Binh Duong has been in the throes of rapid economic development over the last little while. That development has led to explosive growth in all of the economic sectors represented within the area. One of these sectors is the property market. A combination of increasing demand in the market and the development of property projects in the same area has resulted in a massive increase in property values, almost overnight.
In fact, the prices in one particular day of tracking actually increased 100 per cent in a certain area of the province. That is the type of daily hyperinflation that is not seen in very many areas. With demand still going strong and the property developers not nearly finished in the province, one can expect that rapid property value increases will be forthcoming many more times before the market cools down. To that end, many analysts will argue that even people that get in the market now will still see a very rapid return on their investment.
Three particular areas within Binh Duong that have seen rapid price increases are the residential areas of Hoa Loi, Phu My and Dinh Hoa, all of which have seen measurable increases in property values on a daily basis. Of course, these areas are in close proximity to Ho Chi Minh City, where prices have been going through the roof for some time now.
According to most analysts, demand for property in the area will only increase from sources both foreign and domestic and promises to fuel economic growth for some time to come.
