Be careful with land fever

Investors need to be alert, should not rush into making decisions when pressured by brokers, and avoid investing in real estate based on rumors.

In recent days, real estate investors from Hanoi and Ho Chi Minh City have been coming to Da Nang to gather information about the land "fever." Land prices have also increased by 100 million to several hundred million dong per plot.

On standby to provide advice.

On March 19th, at the Golden Hills ecological urban area (Lien Chieu district), many kiosks have sprung up and the area is more bustling than a few months ago. Real estate agents are readily available to advise customers.

According to some real estate agents, land prices in Golden Hills have increased by approximately 100-200 million VND per plot. The current price per plot is around 2.3-3.2 billion VND. Ms. Nguyen Thi Huong, a real estate agent, stated that the increase in land prices in Golden Hills is due to the implementation of several prominent projects in the surrounding area, such as Lien Chieu Port and Hoa Ninh Industrial Park.

The nearby Bau Tram Lakeside urban area has also seen an increase in land prices. Mr. Do Phuoc Tuan from Thanh Phuc Land real estate agency said that recently, many investors from Hanoi have been buying land in Da Nang City anticipating the growth wave. A representative from Tam Thanh Thoi real estate office stated that prior to the provincial merger, land prices bordering Da Nang and Quang Nam have increased compared to before. The customer base includes both those buying for residential purposes and those speculating. Land plots located close to Da Nang City are attracting more investor interest.

• The era when anyone could jump into the "land fever" and become a real estate broker is coming to an end.

• Real estate transactions in Ho Chi Minh City have become bustling again, with land registration offices packed with people.

• Real estate companies launch new projects.

Following news that Dak Lak will merge with another province and become the center of the new province, the real estate market has been heating up daily after years of stagnation. In addition, the commencement of several large-scale construction projects has also fueled a surge in activity in certain localized areas. Along potentially promising roads such as Dong Khoi, Ha Huy Tap, Y Moan Enuol, and Y Nie, real estate brokers are continuously acquiring land through transfers.

A real estate broker in Dak Lak said that before the Lunar New Year, his company traded an average of 2-3 plots of land per day, but now that number has increased to 20-30 plots; land prices in some areas of Buon Ma Thuot City have also increased by 30%-50%.

On the land registration system of Buon Ma Thuot City on the morning of March 19th, 254 people had drawn numbers, with over 100 applications currently being processed. Many people arrived late and were unable to draw numbers, so they had to go home.

Mr. Tran Van Bao, a resident from another province who came to Dak Lak to buy land, said that in the past few days he heard information about a province being merged into Dak Lak, so he came to look for land. Through a real estate agent, he found out that a plot of land was priced at 2.55 billion VND and a house at 3.65 billion VND. However, upon arrival, the agent informed him that the land had already been reserved, the house had increased to 3.8 billion VND, and the buyer had to handle the procedures, so he continued his search.

People come to the reception and results delivery department of the Buon Ma Thuot City People's Committee to carry out procedures mainly related to land. Photo: CAO NGUYEN

Focus on the resort segment.

The real estate market in Ninh Thuan province is also showing signs of heating up. Currently, coastal real estate products in Ninh Thuan, especially in the resort and tourism segment, are attracting a lot of investor interest. The Vinh Hy area is also considered a potential real estate destination.

Recently, land brokers have been exploiting planning information to inflate land prices in some promising areas of Ninh Thuan. From mid-March until now, information about land plots in four projects that have received investment approval and investor approval (including Phu Ha New Urban Area, Bo Song Dinh New Urban Area, My Phuoc New Urban Area, and Dam Ca Na New Urban Area) has been reposted on real estate brokerage websites in Ninh Thuan to attract investors.

"Besides projects that haven't been launched yet, real estate brokerage websites are also actively promoting information about coastal land areas, Vinh Hy, Binh Son - Ninh Chu coastal urban area... hoping that land prices will increase after the merger announcement," said Mr. Ho Duc Hung, a real estate investment businessman in Phan Rang - Thap Cham City.

According to the Ninh Thuan Provincial Department of Construction, there are currently 19 housing development and real estate projects in the province that have received investment approval and are being implemented or completed. These include 13 residential and new urban area projects; 1 social housing project; and 2 tourism and resort real estate projects.

Due to the general impact of the real estate situation nationwide, the real estate market in Ninh Thuan province in 2024 was also affected and remained relatively quiet. In recent days, information about the merger of provinces and cities has gradually created renewed land price surges. Authorities advise investors to be cautious and avoid making hasty decisions when pressured by land brokers, and to refrain from investing based on rumors.

Risky and uncertain

Mr. Vo Hong Thang, Deputy General Director of DKRA Group - a company specializing in real estate services, believes that information about the provincial merger is one of the reasons for the high land prices. However, he also attributes it partly to speculation by brokers who intentionally push the information to create a "boom" in order to profit.

Mr. Thang analyzed that inflating land prices based on this information is risky and unclear. The merger is merely an administrative change. By the time this information becomes outdated, buyers could suffer losses.

Source: https://nld.com.vn/can-trong-voi-sot-dat-196250319222053844.htm