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Vietnam Real Estate Brokerage Association Warned When Buying Land In Dong Anh And Long Bien

Land in Dong Anh and Long Bien

After having information on the preparation of construction of some bridges, emerging markets in Dong Anh District, Long Bien District (Hanoi) have appeared some brokerage activities speculation, price increases, axis land not included in the project development plan …

According to the Vietnam Real Estate Association, the new supply in the third quarter of 2017 from 20 real estate projects estimated over 5,000 apartments; 75 projects are still selling in the market from previous years to the third quarter of 2017, supplying the Hanoi market with over 20,000 units.

Apartment supply is mainly concentrated in some districts such as Hoang Mai, Thanh Xuan, Ha Dong, Nam Tu Liem, Bac Tu Liem and Long Bien. The average selling price per square meter of apartments is about $1,200, up more than 2% compared to Q2 / 2017. The increase was mainly in mid-end projects.

The total number of residential apartments traded in the third quarter of 2017 reached 4,955 transactions in Hanoi, down by 8.5% compared to the second quarter of the same year. Of which, high-end apartments accounted for 5.4%, medium-sized houses accounted for 36.4% and low prices accounted for 58.2% of total apartment transactions in the city.

Land in Dong Anh and Long Bien
An Binh City as an investment company is one of the most outstanding projects in the third quarter of 2017

Of the total housing transactions in Hanoi, 3,850 transactions have been officially signed (according to the Housing Management and Real Estate Market Department – Ministry of Construction). The remaining transaction is the transaction has signed the deposit agreement, confirm the purchase.

Ground products, villas, townhouses and shophouses, as there are currently too few projects in this segment, so trading volume accounts for only 2% of total transactions across the city, reaching 98 transactions.

According to the Vietnam Real Estate Brokerage Association, the supply is expected in Q4 / 2017 will have about 20 qualified projects with the supply of more than 6,000 products, bringing the total supply of the fourth quarter to 19,842 units.

In particular, the product is mainly in the middle segment. The average selling price increased slightly by 2%. The new projects are mainly located in the districts of Hoang Mai, Thanh Xuan, Ha Dong, Nam Tu Liem, Bac Tu Liem and Long Bien.

In the CBD area, there are no land projects which can be developed in small scale, but in small numbers, mainly in the peri-urban areas such as Hoai Duc, Thach That and Dong Anh. Trading volume in the fourth quarter is expected to reach about 5,500 transactions.

You can read more information at Vietnam Real Estate  Investment

In that, emerging market in Dong Anh District, Long Bien District because there are some sources of information on the preparation of construction of a number of bridges, so there appeared some amateur brokerage speculation activities, profits on land not included in the development plan.

Land in Dong Anh and Long Bien
illustration

These are unhealthy phenomena and information, negatively affecting the market. Vietnam Real Estate Brokerage advises investors and consumers to be alert, avoided to take advantage of, take effect and cause chaos in the market.

In fact, there are a number of projects in these areas, such as Eurowindow River Park, with a supply of around 2,000 units with stable prices ranging from $770 to $910/sqm and some projects in Viet Hung, Sai Dong, Long Bien.

In the fourth quarter, the Thanh Ha urban area project of Muong Thanh Group in Thanh Oai District was offered for sale. However, buyers should be careful because the products in this project still have many legal issues.

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