According to Batdongsan's Binh Duong Apartment Market Overview 2024 data, the average apartment rental yield in Binh Duong is currently 4.7%, surpassing Hanoi's 3.7% and Ho Chi Minh City's 3.6%. In addition, 3.6% is also the national average apartment rental yield in 2024.
Notably, some projects in Binh Duong recorded apartment rental yields of 6% - 7.5%/year. This can be considered a record in Vietnam, nearly double the rental yield of apartments in Hanoi and Ho Chi Minh City.
Such good rental yields in Binh Duong are largely due to the fact that high-end apartments here have moderate purchase prices while rents are high and occupancy rates are stable. This type of product with handover standards attracts customers from the high-end segment, willing to pay higher rents.
On average, each luxury apartment in Binh Duong (purchase price of about 45-50 million VND/m2) can be rented at 12 million VND/month for a 1-bedroom apartment, 15-16 million VND/month (2-bedroom apartment) and 18-20 million VND/month for a 3-bedroom apartment. However, if in Ho Chi Minh City or Hanoi, an apartment with a price of 45-50 million VND/m2 can only be rented at about 7-12 million VND/month per apartment depending on the number of bedrooms.
Mr. Dinh Minh Tuan - Southern Regional Director of Batdongsan.com.vn - said: "The occupancy rate for luxury apartments in Binh Duong is about 80-90%, even some projects are almost always "full". This comes from the high rental demand thanks to the strong development of industrial parks, attracting workers and experts to work here."
Mr. Dinh Minh Tuan added that Binh Duong is currently in the top of the country in attracting FDI and second in immigration rate. The province also implements many policies to support businesses in attracting and retaining workers. With the highest per capita income in the country, Binh Duong has become an attractive destination for immigrants.
Among the 5 largest rental real estate markets in the country outside of Hanoi and Ho Chi Minh City, Binh Duong is the leading locality in both the number of interests and the growth rate of interest, surpassing other provinces and cities such as Da Nang, Hai Phong, Khanh Hoa. By the third quarter of 2024, the number of searches for apartments for rent in Binh Duong had increased by 58% compared to the first quarter of 2021.
