Recently, the land project cost between $26 – 30 thousand per land area of about 100sqm and townhome $40 – 80 thousand was uninterruptedly extended to Da Nang market.
After the condotel fever, cheap land is now a new trend of investors in the market Da Nang. Of which, two areas of interest to investors today are the South and the Northwest with a series of land and urban projects are launched.
The southern part of Da Nang and northern Quang Nam is considered as the place to attract investment capital flow into the most powerful real estate projects in Da Nang. This area is planned to expand Da Nang city, the concentration and development zone of urban areas, industrial parks, concentrated hi-tech zones of the city. In addition, along the beach on the road is said to be five star Truong Sa – Hoang Sa is resort projects, luxury hotels.
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Therefore, a series of new urban projects in this area are being invested by real estate giants, forming a chain along the Co Co River to meet the needs of people with medium and low income in all over the place here to live.
A number of urban land projects have been opened for sale, causing the supply of this segment to boom in Da Nang. As early as July 2017, Phu Gia Thinh Company sold the land in this area only from $12 thousands/unit.
Recently, a real estate developer in Hanoi, CEN Group has also joined up with Dat Quang to invest in a land project in the area. According to representatives of CEN Group, the product is launched into the market segment of land price is less than $30 thousand, the price is quite soft so suitable for the majority of investors, especially investors to from Ha Noi.
The vivace of the market also makes the competition in the market become fierce. Many large urban areas along Co Co River have large land banks such as FPT City, Sentosa City, Coco Riverside City and Green City. According to preliminary calculations, in the new urban area Dien Nam – Dien Ngoc has nearly 70 project investors large and small. These include low-income housing projects, educational development projects and a series of residential projects.
Representatives of some real estate floors in this area said that the market in the recent time in Da Nang developed quite a segment of cheap land. Investors around the world are pouring money into trading that makes open-ended projects exciting. According to investors, utilities and synchronous infrastructure of Da Nang are two main factors that make them invest here.
Not only in the south but also Da Nang land area is now spreading to the northwest of the city. According to Dat Xanh Mien Trung, this unit has just introduced to the market Lakeside Palace land project is invested by Sai Gon Investment Corporation Da Nang investors, quite well-received investors. The launch on August 27 attracted more than 500 participants, and 200 products were registered to buy at 97% liquidity.
Representatives of some real estate floors in this area said that land prices in the North West are rising in the last 3 months. Many plots of land in Hoa Lien 5 have a selling price of $16 thousand / lot, but some people now pay the difference higher than $2 thousand / lot.
Land prices in some major urban projects such as the Golden Hills also tend to inch up. At present, the price of land on the surface of 41 meters as Nguyen Tat Thanh stretches from $47 – 56 thousand/ lot while the smaller ones cost about $25 thousand. This price increase of about 15-20% compared to a year ago.
However, along with the opportunity is risky, with large supply is likely to appear new risks, supply exceeds demand. In some areas, Da Nang real estate investors have tasted “bitter fruit” when strangling land, spending money hugging dozens of land, now worried about the risk of drowning.
The risks in land market in Da Nang are not without. Recently, in order to avoid taking advantage of the opportunities of the vibrant market, Da Nang People’s Committee has announced the projects in the city have been transferred land use rights. Because there are already a number of organizations and individuals (investors) that are mobilizing capital in different forms, while projects have not completed the procedures related to the transfer of land use rights…
You are reading the article “Explosion Of Land Under $40 Thousand In Da Nang” in the section “Real Estate News” on the website: realestatevietnam.com.vn
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