Land prices in central Da Nang increase "skyrocketingly"

Land in the urban area along the Hoa Quy - Dong No river costs more than 50 million VND/m2. Photo: VINH LOC

Scarce supply

After a month of wandering around residential areas in An Khe ward and through brokers, Mr. LHL still could not find a street-front plot with a price of 3.5 billion VND. "Actually, there are still a few plots with lower prices, but the location in the alley makes it difficult for cars to get in and out, and there are almost no plots with street-front at that price," Mr. L. said.

In mid-April, when news of the merger of Quang Nam province and Da Nang city broke out, real estate prices in central Da Nang areas increased dramatically by 10-20%. At the end of August, Mr. Tran Van Lam from Tam Ky went to An Khe ward to deposit money to buy a level 4 house (floor area 100m2) for 3.7 billion VND, but only 2 months later, the price increased to more than 4 billion VND, making the homeowner reluctant to sell.

Through actual surveys and on real estate sale pages, it is easy to see that land in some projects or residential areas in the suburbs of the center such as Nam Cau Cam Le, Nam Hoa Xuan,FPT , Dam Sen, Con Dau (Ngu Hanh Son ward)... the price is mostly at the range of 42-70 million VND/m2 depending on the location.

Mr. Nguyen VQ, a long-time land broker in An Khe ward, said that the average land price in residential areas in the ward is currently around 37-40 million VND/m2. Even some areas such as the railway line (Truong Chinh street) or residential areas in Hoa Chau commune (old) were flooded in the recent flood, but the land price is still at 39-40 million VND/m2.

Analysis shows that the reason for the increase in land prices is that the People's Committee of Da Nang City issued Decision 45 (dated June 26, 2025, effective from July 7, 2025) on adjusting the land price list across the city, with an average increase of 125-172% compared to the previous price range. Notably, an equally important factor is that the merger of Quang Nam - Da Nang has created a sense of expectation for many investors, causing the real estate market in the city center to show signs of being "inflated" higher than its real value.

Many land brokers in Ngu Hanh Son ward analyzed that the reason for the high price of land in Con Dau and Dam Sen areas is because Sun Group is starting construction on two apartment complexes near Hoa Xuan bridge, causing investors to hold back land waiting for opportunities, leading to a scarce market, while there are many buyers. For example, land in Dam Sen area was only about 40 million VND/ ^m2 at the beginning of the year, but now the lowest is 52 million VND/ ^m2 (for 7.5m road). Particularly, the urban area along the Hoa Quy - Dong No river is also the lowest at 48 million VND/ ^m2 or Con Dau (Hoa Xuan) is about 50 million VND/ ^m2 , cheaper is only the area west of Vo Chi Cong street (south of Khue Dong bridge) but the price is also 40 million VND/ ^m2 ...

Since the beginning of the year, land in Dam Sen residential area (Ngu Hanh Son ward) has increased by 7-10 million VND/m2. Photo: VINH LOC

Invest cautiously

The report of real estate group DKRA in the third quarter of 2025 shows that the primary supply of land plots increased by 85% compared to the same period in 2024. In which, Ngu Hanh Son ward took the lead when accounting for 91% of the supply proportion and 99% of new consumption. The general demand of the market recorded many improvements, the general consumption volume reached about 54% of the total primary supply. Primary prices increased by an average of about 3% and secondary prices increased by an average of about 4% compared to the second quarter of 2025. Transaction volume focused on projects belonging to urban complexes, convenient regional trade connections, completed legal infrastructure...

In the apartment segment alone, market demand reached 68% of the total primary supply, most of the newly opened projects in Hoa Xuan, Ngu Hanh Son and Hoa Cuong wards, mostly in the high-end segment. Selling prices continuously increased, fluctuating between 80-100 million VND/m2 of apartment.

Many people believe that with the current continuously increasing prices, those who really need it will find it difficult to buy land, but they also cannot wait because the market is unpredictable. The concern does not only come from real buyers, many investors are also cautious.

Ms. Nguyen Thi Thuy, an investor from Ho Chi Minh City, commented that although prices are high, the central area of Da Nang is still very potential because of limited supply. However, with the current rapid price increase, there are many potential risks, especially with bank loans if they cannot be liquidated. In early September, Ms. Thuy liquidated a ^100m2 plot of land in Dam Sen area (Ngu Hanh Son ward) for 4.2 billion VND. At the end of October, she returned and the land price in this area had increased to more than 5 billion VND, so she decided to return to Ho Chi Minh City to invest in apartments.

According to DKRA's forecast, in the fourth quarter of 2025, about 850-950 new land products will be opened for sale, mainly in Ngu Hanh Son and Dien Ban Dong wards... however, the price level will continue to be high. For the apartment segment, there will be about 3,000 - 4,000 new apartments introduced to the market. Of which, the class A apartment segment continues to account for a large proportion, concentrated in An Hai and Hoa Cuong wards. It is forecasted that there will be a shortage of supply in the class B and class C apartment segments to serve the real housing needs of the majority of people.

Notably, only about 15km from the area of Nam Cam Le bridge, residential projects in Dien Ban ward, An Thang... have prices ranging from only about 20-23 million VND/ ^m2 . This is considered a more comfortable choice for buyers, but the heavy flooding in the recent flood has made these residential areas less attractive to the market. However, all predictions and analyses are for reference only, investment needs to be calculated carefully, especially in times of market fluctuations like today.

Source: https://baodanang.vn/gia-dat-nen-trung-tam-da-nang-tang-phi-ma-3309193.html