There is no basis for the phenomenon of land prices rise up each year, quarter, even days in the real estate market. Macro-economic explanations are not close to the actual evolution of land prices.
Eye drops at land prices
According to data of market research firm DKRA Vietnam, real estate segment price of land has increased a year ago, some areas increased sharply to 60-70%. Only from the beginning of the year, Land price in HCMC has increased by 10-20% on average. At the “hot spots” such as Thu Duc, Binh Chanh, land prices have increased 60-70%.
These are just statistical figures, but in fact, land prices are much more boiling. “Hot” especially in District 9, land prices in the Long Thanh My Ward, Long Truong, Long Binh, Truong Thanh … continuously increased. The land along the road as Nguyen Xien, Lo Lu, La Xuan Oai … to buy and sell again. The land was deposited the day before, the next profit-making from VND200-300 million, a lot of land to 4-5 people.
A stretcher said that by the end of 2017, the price of land plots along Nguyen Xien road would be about VND 19 – 19.5 million / sqm. During the recent land fever, the price of land reached VND 29 – 32 million /sqm, in some places up to VND40-50 million per square meter if the road is large. The previous land plot cost only VND2 to 3.5 billion, now the price is up to VND8-9 billion
“There are land plots when I play the buyer to ask, I was offered VND500 – 700 million. A few months later, the same land when I asked again was screamed for half a billion. A lot of brothers and sisters in finance and real estate have also checked and seen that, “said Su Ngoc Khuong, Director of Savills Investment Vietnam.
10 buyers, 9 resellers
According to Mr. Qiang, the current housing price growth, if only explained by the effect of FDI flow and GDP growth as well as infrastructure planning is not enough. Based on the GDP growth rate of the country as well as the growth of per capita income of the city. HCM City in 2017 the price of land in the city. HCM is very hot, beyond the ability of people.
The sharp rise in real estate prices over time has several factors, including the price hike of brokers. On the consumer side, the demand for housing is real.
“Real estate prices increase 50-70% as the last time it is true. It may be because the eartheners exaggerate the progress of the project or the progress of the technical infrastructure of the city. We have even used the tricks to buy and sell the land, “said Phan Truong Son, Head of Housing Development Department of the HCMC Department of Construction. “
According to experts in real estate business, housing and land prices tend to increase depending on economic growth, income, borrowing conditions in banks or manipulation factors of “storks” land, virtual price hikes, speculation, overbought demand or the trend of buying and selling real profits … But, the current price has exceeded the ability of people and real estate investors.
Mr. Le Hoang Chau – Chairman of the Association of Real Estate. At this time, only 10% are buyers with real demand and 90% are buying and selling.
With the cycle this person buys and then sells to others to make a profit, so every transfer is the loser is the last buyer because then, the price has been pushed to a high. Current land price in TP. HCM is too high compared with the actual market price so customers have to be very careful while buying.
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