In 2017, with average interest rates of 6.5% per year, depositors received good returns. However, in 2018, experts predicted that more people would be using their idle capital to invest in real estate.
The flow of idle cash
Le Ngoc Hieu, Director of Nam A Bank - Binh Duong Branch, said that in 2017, credit growth in Binh Duong was very good, above 10%. Although the dollar increased continuously against the VND, many people still chose to deposit in VND. Mr. Hieu predicted that in 2018, deposit in VND would be the choice of many customers in Binh Duong.
Dinh Hoa low-income housing area.
In the last transaction session of 2017, domestic gold price was listed at VND36.48 million / tael and VND36.57 million / tael sold by DOJI Jewelry Group. Meanwhile, the statistics at the end of 2017 by the General Statistics Office showed that the USD price index in December-2017 increased 0.02% over the previous month and decreased 0.05% over the same period in 2016; the average growth in 2017 was 1.4% compared to 2016. Although the dollar rose, few depositors saved in US dollars when interest rate commonly applied at banks was 0%
Recently, the real estate market in Binh Duong is getting "hot" again, with a series of residential projects in large areas such as Di An, Thuan An, Thu Dau Mot are invested and spread to the north of the province. Many experts said that it is possible that by 2018, idle capital would flow into the real estate.
Real estate continues to absorb capital?
An expert, Dinh The Hien (Ho Chi Minh City), said that in the last year, profits from bank deposits were much lower than investment in land, as land prices have risen sharply. For real estate market in Binh Duong, the price in 2018 would be difficult to reduce, due to the large demand and the appearance of foreign investment capital for projects. However, due to the increase in supply, some areas and product segments would exceed demand. In addition, low-end, mid-end apartments, although still in stable demand, would have high competition among projects on product quality and promotion. Lands in remote areas but with well-connected infrastructure still attract medium and long-term investors.
Currently, because the proportion of people coming from outside the province accounting for 50% of the province's total population, the demand for land and housing for people with average income in Binh Duong is very huge. This fact will create momentum for a dynamic real estate market. This is a very attractive investment channel for people with idle money this year.
Experts said, in 2018, real estate market in Binh Duong would continue to increase, the average increase from 10 to 50% depending on each region. Therefore, real estate in Binh Duong continues to be an attractive investment channel for many people.
Reported by Xuan Vi – Translated by Ngoc Huynh
