Home » What strange story is happening in the real estate market in Ho Chi Minh City?

What strange story is happening in the real estate market in Ho Chi Minh City?

Land lots in East, South and Northwest Ho Chi Minh City are being offered for sale and announced aggressively on websites of many real estate brokers with attractive introduction.

Behind the hot fever

In 2016, the land plot segment was still evaluated by experts and investors as the bright spot of the market in terms of liquidity. Ms. Tran Thi Cam Tu, Exim RS’s General Director, said that “for the land plot segment, the amount of money under 1 billion is acceptable. The number of customers has less than 1 billion now, investing in the land is still more than bank anyway. For example, with 710 million, I have 100 m2, have a red book, the infrastructure is complete, the segment is extremely numerous, regardless of who can buy it. With banks supporting it, it’s easy, just need to pay 30% ”.

According to Ms. Dang Thi Kim Oanh, General Director of Kim Oanh Real Estate JSC, the land market tends to lead the market in 2017, because there are signs of oversupply in the apartment segment. Meanwhile, the Vietnamese mentality always likes “land-attached houses”.

However, recently the market has grown “hot”, many areas have increased prices, many experts are concerned about the situation of blowing prices, “to follow” big projects about to “land” in Ho Chi Minh City to drag pull customers.

Most notably recently, as soon as Ho Chi Minh City announced the policy of assigning an investor to build Can Gio bridge project connecting this district with Ho Chi Minh City, suddenly the price of land along these areas “escalated”. . According to a broker, normally Binh Khanh ferry land, from Tan Thuan Export Processing Zone to the end of Huynh Tan Phat Street (part of Nha Be District) is offered at about VND 10 million / m2, but only recently get “shouting” 13 million VND / m2, because the area is about to have a bridge.

Besides, opposite to Binh Khanh ferry (Can Gio district), the land here is mostly aquaculture, normally only sell for 5-7 million / m2, but from the beginning of the year until now “jump” to nearly 20 million / m2.

“Many households here do not seem to want to spend more farming land, leveling for sale because of high prices,” said Mr. Tan – a sales officer for a brokerage floor in District 1.

Many real estate brokers also set up websites to say good words about the land of Can Gio with the purpose of “blowing” land prices. Accordingly, the brokers, after introducing about the area of ​​this area, together with the images of the megacity projects of real estate giants about to be built. The most common “move” of brokers is to show the image of previous customers “taking profits” hundreds of millions due to seizing the opportunity for quick investment.

Similarly, compared to 2016 and before, land in Cu Chi district has very few customers interested because the area is still limited to travel and quite far from the center of the city. However, in March 2017, when the super-urban projects of the “island island” of Tuan Chau made a proposal to the HCM City People’s Committee, immediately the land of this area became “feverish fever”, there are places ” hot hand “.

According to the survey, the price of land from Tay Bac Cu Chi industrial park extending to the terrain (along Nguyen Thi Lanh street) is increasing quite high. Every day the roads around here are deserted, there are now many lots of “houses” standing along both sides of the road to distribute leaflets, to invite guests to introduce the project without knowing who needs. or not.

Ms. Nguyen Thi Bong, the living house opposite Cu Chi tunnels, said that in the past few years, the land has been selling for 3-5 million VND / m2. But, from the beginning of the year until now, the land price has surpassed 14 million / m2, many companies come to ask for the acquisition of people’s land very much. “Even if it is so high, we will never sell, because if we sell the house, we know where to live,” said Bong.

Talking about this issue, Mr. Dao Hong Tuyen – Chairman of Tuan Chau Group said that the project at Cu is only in the proposed stage. “We only focus on the project of a riverside road connecting the center of Ho Chi Minh City with Cu Chi, if the city approves the plan of exchanging land for infrastructure, then it will be done for the project. image of the project in Cu Chi to make housing prices, customers are very careful “.

Identify the “example” recipe of the broker

The fever of this land is spreading to some districts in the East, such as Thu Duc and District 9 – where there is a large land fund in Ho Chi Minh City. According to research, in the past 2 years, the land area in district 9 has increased significantly. Typically, the land in the residential area of ​​Phu Nhuan project, belonging to Phuoc Long B ward, was previously priced from 4-5 million / m2, but now has increased to 20-35 million / m2 depending on location … Although the land price increases, there are still many people asking to buy.

“Many provincial customers who come to district 9 to buy land think that the land in this area is cheap, so much, it is only under 1 billion to buy a satisfactory land. But the reality is not so, the land price here usually ranges from 1.5 to 2.5 billion VND / background depending on the area. Particularly in areas far away from the center such as Lo Lu, Long Phuoc, Long Binh, Long Truong, Long Thanh My, the current average price is about VND 15-20 million / m2, ”a broker at the road leading to the highway adds.

Some experts say that customers must be very careful

Because this can only be a blow for speculators to benefit from the price difference. Because actual surveys show that the real price of the East real estate is only 1/3 of the market price.

The formulas of the brokers can be seen: At first they introduced VND 10 million / m2, but after a week they began to raise prices by 5-10% and announced that the land was sold out. Even, staging transactions in front of customers to blow prices, giving customers information, the land is feverish, if not bought immediately, there will be no land to buy, or a sharp increase in prices. In particular, many brokers also “borrow” other projects to offer, attracting customers.

At the recent HCM City real estate market press conference in the first quarter of 2017, Mr. Marc Townsend – General Director of CBRE Vietnam Co., Ltd., contradicted the image of trading slowdown in apartment segments. In the area, the land plot segment is very active. However, this excitement has to look at real trading numbers or just “stir” by brokers. Customers who sign a transaction contract need to ask to see legal documents relating to the land, the project to be bought and absolutely not listen to any promises.

Leave a Reply

Your email address will not be published. Required fields are marked *