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Good news from the Southern market, 'magnet' Cam Pha, conditions for converting interspersed agricultural land into residential land

Báo Quốc TếBáo Quốc Tế23/09/2023

Experts advise investors to forget about the "good land where birds nest", the Southern market records changes, regulations on converting the purpose of using interspersed agricultural land into residential land... are the latest real estate news.
Thị trường bất động sản TP.HCM đìu hiu, cả quý chỉ có 1 dự án nhà ở mở bán. (Nguồn: DT)
The Southern real estate market has recently recorded some movements from businesses and projects. (Source: DT)

Experts advise investors to find "land with rice for birds to eat"

The Southern real estate market has recently recorded some movements from businesses and projects. Phat Dat has just topped out the Phat Dat office building project in District 3, Ho Chi Minh City with 4 basements and 12 floors above ground, expected to be completed and put into operation in December this year.

Previously, 2 subsidiaries of Phat Dat were also approved for investment policy and investor approval for the Thuan An 1 and 2 High-rise Complex Housing Project, Thuan An City, Binh Duong Province. The Thuan An 1 High-rise Complex Housing Project has also been approved for detailed planning 1/500 by the People's Committee of Thuan An City. The enterprise is expected to implement the project in the second quarter of 2024.

In addition, Thang Loi Group has just launched the shophouse product at The Diamond City project ( Long An ). Investor Nam Long recorded a new step forward in building social housing in Can Tho.

The Department of Construction of Can Tho City announced that it is accepting applications for renting and buying social housing from people at the Nam Long II Central Lake project, covering an area of 3.8 hectares. At the end of September, Nam Long also plans to launch more than 330 apartments at the Akari City project (HCMC).

Some projects have new legal developments, such as the Poulo Condor hotel and tourist apartment complex project in Bai Vong, Con Dao, Ba Ria - Vung Tau by Phat Dat or NovaWorld Phan Thiet (Binh Thuan) by Novaland.

Real estate expert Tran Khanh Quang assessed that in the third quarter, the Southern market began to restart with products from large investors and projects with full legal documents.

However, this comeback is partial and tentative. Investors have not yet boldly launched a large number of products. Successfully sold products are mostly due to investors applying good policies for customers, such as price discounts, extended payments, interest rate support, etc.

In the fourth quarter, when the legal status of projects is increasingly resolved, investors can boldly bring products to the market. According to Mr. Quang, current bank interest rates are quite attractive, equivalent to before the pandemic, investors can access and own real estate more easily. This is an opportunity for buyers at this time.

However, experts say that the real estate market is currently showing signs of excitement in the central area, and has not yet spread to the provinces surrounding Ho Chi Minh City. It is predicted that the market will only "heat up" in the second quarter of next year.

Some experts at the market seminar held on September 20 commented that infrastructure development will help real estate in suburban areas of Ho Chi Minh City such as Binh Duong and Long An grow well.

Economist Dinh The Hien assessed that with the development of transport infrastructure, with invested highways such as Bien Hoa - Vung Tau, Ben Luc - Long Thanh, Ring Road 3 - 4... the Southern economy will be much better, real estate in Ho Chi Minh City and the surrounding 100km radius will benefit.

He advised real estate investors to forget about places where "birds nest", but instead look for places where "there is rice for birds to eat".

Real estate price "low point" in 4 major cities of Quang Ninh

Although not the province with the largest population and area, Quang Ninh is one of the two provinces with the most cities in the country, with 4 cities. The strong development and growth of the economy has made Quang Ninh real estate the most vibrant market in the North, second only to Hanoi. The real estate market here is relatively large in many areas, but the most vibrant cities are Ha Long, Cam Pha and Mong Cai.

According to big data from the BHS R&D department, the main types of real estate in Quang Ninh such as project land, apartments, townhouses, etc. all have average selling prices increasing quite high each year.

Specifically, if 2017 is used as a comparison, by 2022, all types of real estate will have an increase in selling price of 48%. In particular, Hung Thang beachfront real estate increased 6 times from 15-20 million VND/m2 to nearly 90-110 million VND/m2. Sun Marina beachfront area increased in price from 50-80 million VND/m2 to 200-300 million VND/m2. Or Vinhomes Dragon Bay beachfront from 40-50 million VND/m2 to 115-150 million VND/m2.

In particular, the report of BHS R&D also pointed out an interesting point when comparing the selling price level of coastal road projects in the three cities of Ha Long - Mong Cai - Cam Pha, revealing unexpected angles. Specifically, Ha Long holds the No. 1 position with prices reaching an astonishing level of 100-250 million VND/m2. Ranked second is the price of coastal roads in Mong Cai, which is only half of that at 50-60 million VND/m2. Real estate prices along the projects in Cam Pha have many surprises when opening at a fairly cheap level of only 20-40 million VND/m2.

Although the real estate market in the four cities of Quang Ninh has developed and increased in price for a long time, it still attracts the attention of investors. Typically, in early 2023 when the real estate market was very quiet, Quang Ninh still had bright spots in transactions. In particular, transactions tended to flow to the Cam Pha valley when the price level was significantly lower.

As one of the province's industrial centers, Cam Pha used to be a city that "lived on coal", along with that, its tourism potential is not inferior to any land in Quang Ninh. Possessing many scenic spots and the potential for developing resort tourism, Cam Pha is considered an emerging "gold mine" - a new tourist destination of Quang Ninh province. Being located between two key tourism - economic centers of Quang Ninh, Ha Long and Van Don, is also helping the real estate market here quickly create a lot of room for the Northeast.

These advantages have directly impacted the excitement of real estate here, attracting large cash flows from big names such as Vin Group, Sun Group, BIM, TTP... when they continuously survey and invest in Cam Pha. This move promises that Cam Pha will bring to the market prestigious projects with affordable prices and breakthrough potential, satisfying the needs of investors.

In particular, according to experts' assessment, with that solid foundation, after the fever of Ha Long and Van Don, Cam Pha real estate is considered to become a magnet to welcome the cash flow of the new real estate cycle when the vast potential is still in the initial exploitation stage.

Thanh Hoa: Implementing the project to invest in building 1 million social housing apartments

Thanh Hoa Provincial People's Committee has just issued a Plan to implement the Project "Investing in the construction of at least 1 million social housing apartments for low-income people and industrial park workers in the period of 2021 - 2030".

Timely and effectively deploy tasks, goals and solutions according to the Project "Investing in the construction of at least 1 million social housing apartments for low-income people and industrial park workers in the period of 2021 - 2030" approved by the Prime Minister in Decision No. 338/QD-TTg dated April 3, 2023 (abbreviated as the Project).

The target is to complete at least 13,787 apartments in the province by 2030. Of which, about 6,287 apartments will be completed in the 2021-2025 period; about 7,500 apartments will be completed in the 2026-2030 period.

Specifically: In the 2021 - 2025 period, continue to complete projects that have selected investors and are under construction; at the same time, select investors and implement social housing projects included in the approved Housing Development Plan, worker housing projects under trade union institutions in industrial parks; social housing projects within the 20% land fund in commercial housing projects.

Phase 2026 - 2030: Complete other social housing projects approved for investment in the approved housing development plan, worker housing projects under trade union institutions in industrial parks; social housing projects within the 20% land fund in commercial housing projects with selected investors.

The Department of Construction shall preside over and coordinate with relevant units to review, develop and submit to the Provincial People's Committee for amendment and supplementation of the Housing Development Program of Thanh Hoa province to 2025 and orientation to 2030 in accordance with the provisions of the Housing Law, in accordance with the National Housing Development Strategy for the period 2021 - 2030, with a vision to 2045, as a basis for approving project investment. Preside over and coordinate with relevant units to organize the development and promptly submit to the Provincial People's Committee for adjustment of the Housing Development Plan of Thanh Hoa province for the period 2021 - 2025.

Thanh Hóa đôn đốc, thúc đẩy nhanh việc hoàn thành đầu tư xây dựng đối với các dự án đang triển khai thực hiện. (Nguồn: BXD)
Thanh Hoa urges and accelerates the completion of construction investment for projects under implementation. (Source: Ministry of Construction)

Coordinate with relevant units in the process of implementing procedures for selecting investors (for projects that have been approved for investment policies) to implement the project according to regulations. Supervise and request project investors in the province to improve the quality of social housing, ensure quality equivalent to commercial housing, product structure, reasonable prices to meet the needs of low-income people and workers to have the opportunity to access and improve housing; ensure essential technical infrastructure and social infrastructure conditions for transportation, health, education, and culture of the projects. Strengthen inspection, examination, supervision, and handling of violations of the law according to the functions and tasks in developing social housing and workers' housing in the province.

In addition, relevant departments, branches and sectors shall perform according to the functions and tasks clearly stated in the project.

Regulations on converting the purpose of using interspersed agricultural land into residential land

Interspersed agricultural land (not yet recognized as residential land) is located in residential areas or surplus land after planning. These types of land often do not have red books, and are transferred only through handwritten documents. Because they are interspersed in residential areas, these agricultural lands are often not large in area, only about 30 - 50m2.

Interspersed agricultural land includes 3 types: Garden and pond land adjacent to residential land; garden and pond land interspersed in residential areas; agricultural land assigned interspersed in residential areas.

Conditions for converting interspersed agricultural land into residential land: Based on Point d, Clause 1, Article 57 of the 2013 Land Law, the conversion of land use purpose from agricultural land to residential land (non-agricultural land) must be permitted by the competent State agency.

Conditions for competent State agencies to permit the change of land use purpose from agricultural land to residential land are stipulated in Article 52 of this Law.

Specifically: The annual land use plan of the district level has been approved by the competent State agency; Land use needs are shown in the investment project, application for land allocation, land lease, and change of land use purpose.

Pursuant to Article 69 of Decree 43/2014/ND-CP detailing the implementation of a number of articles of the 2013 Land Law, the order and procedures for permitting land use purpose change are prescribed as follows: Land users submit an application for permission to change land use purpose with a certificate attached to it to the Department of Natural Resources and Environment. The Department of Natural Resources and Environment is responsible for examining the dossier; verifying the field, assessing the need to change land use purpose; guiding land users to fulfill financial obligations in accordance with the provisions of law. Then, submit to the People's Committee of the competent level for decision to allow land use purpose change; direct the updating and correction of land database and cadastral records.

In case an investor receives a transfer of land use rights from a person currently using the land to implement an investment project, the procedure for transferring land use rights shall be carried out at the same time as the procedure for permitting a change of land use purpose.

After obtaining the annual land use plan of the district level approved by the competent State agency, submit the application for permission to change land use purpose to the natural resources and environment agency and fulfill financial obligations as prescribed.

Application for permission to change land use purpose includes: Application for permission to change land use purpose; Certificate of land use rights; Application for registration of changes in land and assets attached to land (according to form No. 09/DK issued with Circular 24/2014/TT-BTNMT).



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