Dong Nai: Project Land Continues To Increase

Dong Nai is continuing to become a great destination of the project land for customers. Although this investment channel is still considered “making a lot of money” for customers in the present time, let be cautious.

Many projects have had great selling

In early May 2017, when the news that Long Hung Urban Economic Zone, which was located in Long Hung commune, Bien Hoa city, about 20km from the center of Ho Chi Minh City, continued to sell next phase was announced,  many customers living in Ho Chi Minh City and Dong Nai have been preparing to invest. A broker of this project said that there are both new customers and old customers to buy this purchase. Someone ordered 1-2 plots of project land, or many ordered 3-4 ones at a time or even more.

Long Hung Urban Economic Zone covers a total area of 1,300 hectares comprising 5 component projects as Long Hung Urban Area with an area of 227 hectares, Phung Hoang Island with an area of 286 hectares, Cuong Hung Peninsula with 92 hectares, Waterfront City with a size of 366 hectares and the Aqua City project with an area of 305 hectares. Although in the launch, this price was about $565 / sqm, which is quite a high price compared to the previous purchase, customers are not afraid.

The real estate market in Dong Nai from the beginning of the year up to now shows that many projects have been sold out after being launched in the short time into the market. It is considered as Bien Hoa Tower project as an example. With a price of only $32 thousand per land plot, 248 land plots of this project have been sold within one hour after the announcement. An agent of Kim Oanh Real Estate Joint Stock Company, the distributing unit of this project, said that in less than a month, the first-time buyers returned the lowest profit of over $2000 / land plot.

Dong Nai land fever

Not only the projects mentioned above, other land projects in Dong Nai such as The Viva City of LDG Investment Joint Stock Company (LDG Group) in Trang Bom District also created the same attraction. In fact, many customers have seized an opportunity and earned billions from the “surf” deals on these projects. A customer named Thien from Binh Duong said that from the end of last year to now, each time he bought 6 to 8 land plots, through 3 waves of “surfing” in different projects, he won a huge reward.

As noted by the Bidding Newspaper, on April 18, 1977, Dong Nai People’s Committee issued a decision to suspend the resolution of the separation of land plots in order to correct the status of arbitrarily separating the plot or illegal transfer of land ownership which stroke in many places in the province. From then, there are more and more customers looking to buy land plots with the full legal condition in the project. This is one reason why many projects in Dong Nai continue to have great selling. However, it is worrying that despite the risk warnings from the professionals, the proportion of surfing customers in these projects is tending to increase compared with customers who have a demand for living in these projects.

Although it is exciting market, customers are supposed to be careful

Tran Thi Cam Tu, General Director of EXIMRS – distribution unit of Long Hung Urban Economic Zone, said that since the launch in August 2016, prices have increased dramatically. It is estimated that over 35% of those who purchase from last year have returned great profits. this exciting trend continues obviously to increase as customers are moving to Dong Nai to buy more land projects, especially the group of customers from Ho Chi Minh City.

The exciting property market in Dong Nai, especially the city of Bien Hoa, has been continuously fevered in the past time because a series of key infrastructure projects linking Dong Nai with Ho Chi Minh City and neighboring areas have been invested and built such as Ho Chi Minh City – Long Thanh – Dau Giay Expressway, 1A National Highway expansion, New Eastern Bus Station, Long Thanh Airport or Cat Lai Bridge.

Projects in the land of Dong Nai

Especially, Dong Nai People’s Committee is carrying out the project of Vam Cai Sut Bridge on Huong Lo 2 (Bien Hoa City) with a total capital of more than $14 million. The Bridge is expected to start from the location of intersection with Highway 51 at Ben Go T-junction and end at the intersection with Ho Chi Minh City – Long Thanh – Dau Giay Expressway. This is the main street connecting the administrative center of Bien Hoa city with Long Hung urban area, An Phuoc industrial zone and Nhon Trach urban center. Once being completed, Vam Cai Sut and Huong Lo 2 will be the premise for socio-economic development in the area along the Dong Nai river.

Another important thing is that the land plot of Dong Nai which is adjacent to the eastern gateway of Ho Chi Minh City is still a large scale, and the land price is reasonable, while the distance from Dong Nai to Ho Chi Minh City is shorted. Especially, the project land belonging to the above-mentioned projects are usually well-located, square area, full of facilities and spacious, synchronous and completed interior space, so buyers are very satisfied.

According to Le Hoang Chau, Chairman of the HCMC Real Estate Association, the project land market in the districts of the HCM City as well as neighboring localities near Ho Chi Minh City has recently been red hot as expected. High price increase often benefits for speculators but it will hurt the whole market, especially those who want to buy for the living. Thus, when buying any project, customers those having the demand of living are supposed to consider some factors carefully as the legality of the project, the price, the investor’s credit and distribution units.

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