Hcmc real estate market explosed subdivision ground land

The real estate market in Ho Chi Minh City has decided not to promote its full potential.

Decision 60/2017 / QD-UBND was promulgated to replace the old one. Expected to limit the issue of splitting lot for sale in this market. Because in this decision has clearly defined the minimum area allowed to separate the plot. However, this decision still has “holes” to many land drag on the profiteer.

In the last period of 2017, in the vicinity of Ho Chi Minh City has “fever” land. Land prices increased by an average of 30%, especially in areas where prices increased by 70% compared to the beginning of the year. The hottest areas are in District 9, H. Duc, Binh Chanh, Can Ninh, …

Ground lands of Ho Chi Minh City, especially Can Gio island district increased rapidly and the phenomenon of virtual fever. These were intervened by the City People’s Committee

In the above areas, land prices must rise at least from VND20 million / m2. Particularly prominent in Can Tho, prices rose surprisingly high. Depending on the location, the price increases between VND10-12 million per square meter. However, the “fever” has been cooled down in time due to the intervention of the City People’s Committee.

New year, fever show signs of return

This year, the land near the city has signs of growth again. Especially after the Decision 60/2017 / QD-UBND (Decision 60) on the minimum area of ​​land separation began to take effect.

Deciding to take the task will solve the problem of spreading the rampant background for sale. Because this is a long-lasting problem in the coastal areas of Ho Chi Minh City. However, in addition to expectations, decision 60 is considered to be not tight. The problem that continues to happen though not much, but the lobster is still profitable by the law.

According to record, the separation of land plots in January still occurs in Ho Chi Minh City, especially in District 9. Important routes such as Lo Lu (Truong Thanh Ward), Bung Ong Thoan, Nguyen Duy Trinh (Phu Huu Ward), … there are many places to sell the land, VND 500-700 million / slot. Many storks also grasp the situation and pull on this bait. Currently, in this area anyone on the road can also be the land broker.

Nam Nam, a resident of this area, said. Most important frontage areas in this area are owned. If you want to buy only buy land in alleys or niches.

However, the land available for sale is currently only land in deep alley, infrastructure is sketchy

Prior to inquiring about the legality of these plots, Mr. Nam explained. Previously in the old regulations is the land area of ​​over 2,000 sqm must be planned 1/500 and not be separated. With the land area of ​​District 9, the newly formed land and the left after the separation of the plot must be 80sqm (ie the area must be over 160m2). And the road surface area is not less than 5m.

At present, according to new regulations, the land owners have land area of ​​the separation of the lot. It is possible to ensure that the minimum area of ​​the new land lot must be at least 50m2 and the width of the remaining land surface must be larger than 4m.

Many investors have taken advantage of the project to get near the project, then allocate comfort and sell the land. Obviously, the land was granted a good red book.

If not tightening the market will be chaos

Before the information in district 9 land is divided and sold rampant. Land owners take advantage of the gaps in Decision 60 to seek benefits. HCMC People’s Committee recently instructed DONRE to coordinate with relevant agencies to thoroughly deal with this issue.

At the same time, the People’s Committee of Ho Chi Minh City also suggested district 9 to regularly assess this status. To report to the DONRE about the cities spell law to submit to the People’s Committee for settlement in accordance with the law.

Owner of a real estate brokerage firm that specializes in land. Decision 60 of the City People’s Committee in which more open than the previous Decision 33. However, the gap is still there and many people are taking advantage of themselves to influence the market.

“Some districts may have loosened their management over time. It is easy for many households to separate their plot and receive a red book. In addition to the people’s profit, it has led to the condition of land is divided and sold rampant. Urban sprawl and the formation of residential areas without integrated infrastructure, “the company said.

Ground Land is sold and distributed in the area of ​​Ho Chi Minh City at this time

According to Le Hoang Chau, HoREA Chairman of Ho Chi Minh City Real Estate Association. Although Decision 60 has been in effect for a month, departments have not yet issued specific guidelines.

Mr. Chau forecast, if not timely intervention. Land market will be chaotic, because this segment is still very unstable.

~~>>Update on new information on the real estate news in Vietnam here: Vietnam real estate news

To further manage separation operations. President HoREA made a recommendation for Ho Chi Minh City. That is to direct the relevant departments to issue documents guiding the implementation of Decision 60.

In addition, regulations and forms should be issued to guide and develop management criteria. To closely control the cases of separating large land plots, besides the internal roads system, to change the purpose of using agricultural land to residential land.

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