At the announcement of the Da Nang real estate market highlights for the second quarter of 2025 by CBRE Vietnam (belonging to CBRE Real Estate Services Group, USA), Vietnam Business reporter talked with Ms. Duong Thuy Dung - CEO of the company about some unusual signs taking place in the area.
CBRE Vietnam CEO Duong Thuy Dung presented a report on the Da Nang real estate market focus in the second quarter of 2025.Ms. Duong Thuy Dung: According to CBRE Vietnam, the average selling price of high-rise houses and apartments in the Da Nang market in the first 6 months of 2025 is about 85 million VND/m2, the highest in the country, higher than the average selling price in Ho Chi Minh City (82 million VND/m2) and Hanoi (79 million VND/m2); increased by 27% over the same period last year ( Hanoi increased by about 30 - 35%, Ho Chi Minh City increased by more than 20%).
Land prices in Da Nang in the first half of 2025 will also increase by 15 - 20% in most major urban areas and key locations in the city; even in prime areas along the coast and rivers, the price increase can be up to 20% - 25%. This is good news for the Da Nang market, but in some aspects, the cost that buyers here have to pay is higher.
At this time in Da Nang, there seem to be signs of a "land fever", repeating the situation in 2018 - 2020. In your opinion, is this a real land fever or a virtual land fever?
Ms. Duong Thuy Linh: When talking about land fever, we need to find out specifically which area has increased land prices to assess whether it is a land fever or not? The definition of land fever includes both real and virtual price increases. In some areas, we observe that there are many factors such as improved infrastructure, synchronous overall planning, and the participation of reputable investors that help increase land prices there.
That is a real price increase. Buyers themselves are now very knowledgeable, they look at it and know that the land price there is indeed higher than before. However, they are still willing to spend money to buy, because that is a real price increase. However, there are also areas with virtual price increases, that is, "follow-up" price increases.
That is, there are areas that have nothing yet, but "somewhere heard" that there is infrastructure related, a merger, or that project is about to come in... so the price increases "follow suit". That "follow suit" actually happens in Da Nang, but in our opinion, the virtual price fever in the area at this time is not as serious as in 2018 - 2020.
During the period of 2018 - 2020, Da Nang experienced a prolonged land fever but not many products were introduced to the market. In the following years, there were almost no projects implemented in the area, but in the past 2 years, many projects have been introduced to the market by reputable investors, and the consumption capacity of these projects is very good.
Ms. Duong Thuy Dung answered an interview with a reporter from Vietnam Business.
Some opinions say that recently, when there is a large supply of apartments, investors inflate land prices too high to "herd chickens" to buy apartments instead of land. When land projects launch their products to the market, they use similar tricks to "herd" them back. In your opinion, is there such a situation of "herding chickens" and what is the solution to protect the legitimate rights of buyers?
Ms. Duong Thuy Dung: In fact, the situation of “herding chickens” does not only occur in Da Nang but also in big markets such as Hanoi, Ho Chi Minh City… If the land price increases by more than 30% just one day, then the next day, it is definitely a virtual fever, there is never a case of land price increasing in reality so quickly. I can confirm that smart buyers will never accept that price increase.
Maybe the virtual land fever happened in the past because buyers were afraid that if they didn't buy, someone else would buy it all. However, buyers are becoming wiser and will never invest in areas with such obvious virtual fever.
Whether there is a situation of “herding chickens” or not depends on each case and each project to consider. I think that could be a “trick” to sell houses and land. Not only in Da Nang but also in other markets, such as Hanoi, there is a similar situation. There are projects that hire people to queue up to buy, but in reality it is a virtual queue…
The most effective solution to this problem must come from the buyers themselves for personal investment or for living. It is very difficult to prove that project owners or brokers intentionally inflate prices, and it is also very difficult for the government to intervene in this matter. Therefore, the best way is for buyers to be alert to avoid falling into the profit trap.
If in the past, buyers were very uninformed about price-inflating and “chicken-baiting” tricks, now they have been warned a lot. They are wise enough to consider whether the investment is effective or not, instead of listening to the advertising or commitments of the project owner, because even the commitment contract is very loose. More than anyone else, it is the buyers who will save themselves from such traps.
Thank you!
Source: https://doanhnghiepvn.vn/kinh-te/cach-nao-de-tranh-sap-bay-lua-ga-thoi-gia-bat-dong-san/20250724074618212
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