The Civil Judgment Enforcement Office of District 1, Ho Chi Minh City has just announced the auction of land at 37 Do Quang Dau, Pham Ngu Lao Ward, District 1. This is the 4th auction of this land plot.
Accordingly, the land area is 41m2, building a 6-storey house. The total construction area is nearly 188m2. The starting price of the auctioned property is 21.244 billion VND, meaning that each m2 of land on the frontage of Do Quang Dau Street costs about more than 518 million VND.
The auction documents will be sold from March 13 to April 9. Each set of documents costs 500,000 VND, the deposit is equivalent to 5% of the starting price (more than 1 billion VND). On April 12, the official auction will take place in Thu Duc city.
Real estate in District 1, Ho Chi Minh City is always expensive. (Photo: Dai Viet)
The Ho Chi Minh City Civil Judgment Enforcement Department will also organize the fifth auction of the house at 225B-C Tran Quang Khai (Tan Dinh Ward, District 1) with a land area of 89.5 square meters. The house has a structure of 1 ground floor and 3 upper floors, with a total floor area of over 362 square meters. The starting price of this property is offered at 28.7 billion VND.
Thus, this house is being offered for sale at an average price of about 340 million VND/m2. The time to view the auctioned property and submit bidding documents is from March 18 to April 8.
The cost of purchasing the auction documents is 500,000 VND/set, the deposit is equivalent to 20% of the starting price, or 5.74 billion VND. The above house will be officially auctioned at 2:30 p.m. on April 11.
Mr. Ngo Van Nghia, representative of a real estate company in District 1, said that houses priced at VND500-600 million/m2 in District 1 are normal. In prime areas such as Dong Khoi, Nguyen Hue, Le Lai, and Le Loi streets, the actual land transaction price has reached VND1.5-2 billion/m2.
“At the time when real estate was hot, land on Dong Khoi Street cost more than 2 billion VND/m2. As soon as there was news of someone selling a house, there would be buyers immediately,” said Mr. Nghia.
Currently, the Civil Judgment Enforcement Department of Ho Chi Minh City is also announcing the auction of many houses in District 10, Go Vap, Tan Binh, Binh Thanh... with starting prices from several billion to tens of billions of VND.
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