The price of land in Ho Chi Minh City increased record in 2017 has impacted real estate prices in the neighboring cities. The most obvious change was in land prices in Binh Duong, Dong Nai and Vung Tau with an increase of 30 to 100% compared to 2016.
Dong Nai, Binh Duong land prices doubled
Dong Nai and Binh Duong land prices have increased dramatically by the end of 2017, as soon as the decision to extend the Ben Thanh – Suoi Tien metro line to Di An town and Bien Hoa. In Binh Duong, land prices around the two Metro axis of Di An increased about 60% compared with early in 2017. Not only the area near the Metro, the land in many other districts also increased by 20-30% compared to the beginning of the year. If landmark is early in 2016, land prices are almost 100% increase.
Real estate in other areas of Di An, Thuan An, Ben Cat, Tan Uyen and Thu Dau Mot have increased by 30-40% on average, especially in projects that have completed infrastructure in crowded KDC or surrounding areas. Major industrial zones such as Mapletree, VSIP 1 and 2, Rach Bap, Protrade Singapore, My Phuoc 1,2,3 … For residential land, hot areas such as Di An, Thuan An, Thu Dau Mot, prices increase from 40-60% compared to the same time of 2016.
The Dong Nai market recorded the upward trend not inferior to Ho Chi Minh City. For example, some projects with synchronous planning in Bien Hoa, such as Long Hung urban area (Bien Hoa city), price from VND 6-7 million / sqm increased to VND 12 million / sqm , the investor may increase prices to VND 16 million / sqm in the new opening. Another project located in Dong Nai is Richland City, the initial price is only about VND 416 million / platform increased VND 650 million / platform. Similarly, the Golden A project, Bien Hoa Riverside sales price doubled in just one year, from VND 3.5-4 million / sqm increased to VND 6-8 million / sqm.
In areas such as Long Thanh, Nhon Trach, Bien Hoa, land prices have doubled compared to the same period in 2016. Residential land, agricultural land also increased from 30-60%. For example, Nhon Trach residential land plots cost between VND5 million and VND6 million per sq m by the end of 2016. Agricultural land sales before just about VND500-700 million / 1000 sqm, now increased to VND800 million-1.1 billion / 1000 sqm. In Long Thanh, the price of agricultural and residential land increased from VND4-6 million / sqm to VND12-14 million / sqm. In Bien Hoa and Trang Bom districts, prices of land also increased by 30-100%, up to VND12-15 million / sqm, while previously only at VND5-7 million / sqm.
Vung Tau, Long An moving forward
Although not as strong as Dong Nai but land in Long An area recorded the purchasing power and price fluctuations. The number of new projects launched here also increased quite strong, mainly land products are cheap. Land price increase in Long An is about 20-40% compared to 2016. Some projects in Ben Luc, Duc Hoa, Can Giuoc districts such as Vista Land, Bella Vista, Sen Village Vietnam, Phuc An City, Saigon Village, Cat Tuong Duc Hoa … selling price from VND6-8 million / sqm, but now it increased from VND10-12 million / sqm.
Ba Ria – Vung Tau is considered as a new factor in the market in 2017-2018. Land here is becoming a new focus of real estate investors. Many large enterprises such as Novaland, Hung Thinh, Danh Khoi … announced that they will deploy the project in Vung Tau in 2018. Specifically, Hung Thinh has spent out of a thousand billion to buy out 4 projects of relatively large scale big city center. Vung Tau; Danh Khoi also successfully purchased a project of nearly 10ha in the center of the city. Ba Ria to develop into a city called Barya Citi. Most recently, AllGreen Vuong Thanh – Trung Duong Co., Ltd in cooperation with Danh DL Viet (DKRV) officially announced the project of Vung Tau Regency scale of 23ha, located on 3/2 Street, Vung Tau.
The move to capitalize on this market of large series is causing Vung Tau to increase its competitive position with the rest. Investors increasingly interested in Vung Tau real estate and direct impact on land prices in this market. Land prices in the coastal areas. Vung Tau has increased from 30-50% compared to 1/2016. Ward 9, Ward 8, Ward 2, Long Toan, Hoa Long, in the city. Vung Tau, land prices from VND8-11 million / sqm increased to VND16-19 million / sqm by the end of 2017. The 3/2, Nguyen Huu Canh, Truong Chinh, CMT8, Nguyen Van Cu, prices increased from VND8 -12 million / sqm to VND12-18 million / sqm, equivalent to 40-70% increase compared to 2016. Land area around the Truong Cong Dinh, Do Chieu, Tran Phu, Le Loi, Vo Thi Sau. average price of VND15-40 million / sqm increased to VND22-54 million / sqm.
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