This place is feverish, the government is involved in “lowering the fever”
Land prices have increased 15-30%
By the end of March 2022, a team of brokers from the Hanoi and Quang Ninh exchanges and free agents participating in sales poured into Mong Cai in large numbers, causing this market to heat up.
Previously in February 2022, according to data from Batdongsan.com.vn, the price in this market only slightly inched up and transactions were not much. Up to now, the price of Mong Cai land has increased sharply.
Specifically, at the end of last year, project land in Mong Cai was commonly offered for sale at the price of 20-25 million VND/m2, then after the Lunar New Year, February 2022, the asking price increased to 23 -28 million VND/m2 and up to now, within only about 1 month, the land price continues to increase to 25-30 million VND/m2.
Many project land plots have beautiful locations, prices increased sharply, up to 40-45 million VND/m2. Shophouse project opened for sale last year in Mong Cai is also being offered for sale at the price of 80-90 million VND/m2.
As of February 2022, real estate premises in Mong Cai in Hai Hoa, Ka Long, Tra Co, Hai Yen, Binh Ngoc, Tran Phu wards and some communes such as Hai Son, Bac Son, Hai Dong… Realizing that the land price has increased slightly by 5-10% compared to 2021, up to now, depending on the location, the land price in these areas is being offered for sale, increasing by 15-30% compared to last year at a rate price ranges from 24-40 million VND/m2. Transactions in the market were recorded more exciting than in February. Residential land located near major projects of Vinhomes, Vinaconex, the recorded increase reached an average of 20-30% compared to the end of last year. .
Real Estate in Mong Cai.
Mr. NMH – a broker in Mong Cai area said that the market is currently quite “hot” when the wave of brokers and investors flocks more and more.
“During Tet, the land price in some projects has slowly increased, but there have not been many transactions. Currently, both prices and transactions are increasing sharply,” said Mr. H.
“Squeeze” real estate business, prevent “virtual land prices”
However, in this area, there is a “disruptive” sale of projects that are not eligible for sale. Faced with this messy situation, in order to make the market transparent and healthy, the City People’s Committee. Mong Cai, Quang Ninh province has announced a list of 7 urban projects in the city that are not eligible to raise capital and open for sale according to regulations.
Specifically, these 7 projects include: Urban Area North of the extended Hoa Binh Boulevard, Hai Hoa Ward (Vinaconex and Phuc Khanh Vietnam Joint Venture), Urban Area on both sides of the road leading to Bac Luan 2 Bridge, Hai Hoa Ward. , TP. Mong Cai; Urban area south of the road leading to Bac Luan 2 bridge, Hai Hoa ward (Vinhomes Joint Stock Company); Ninh Duong New Urban Area Phase 1, Ninh Duong Ward, Hai Yen (A joint venture between Ninh Duong Investment and Development Joint Stock Company and FLC Group Joint Stock Company); Hai Yen new urban area, Hai Yen ward (Hai Phu Ngoc Co., Ltd. is the investor of phase 1, has not yet selected an investor for the extension); Investment project on construction and business infrastructure of new urban area km 5, Hai Yen ward (phase 2); Tay Ka Long new urban area, Hai Yen ward.
According to the City People’s Committee. Mong Cai, all 7 projects so far have not been eligible to raise capital and sell sales according to regulations. Even some projects have not yet selected investors or allocated land. However, the “storks” of the land, the real estate brokers have advertised and sold it publicly on the media.
Therefore, the City People’s Committee. Mong Cai assigned the city police to grasp the situation, detect, investigate and strictly handle acts of business, real estate brokerage, sale and transfer of real estate in contravention of current law. At the same time, investors are required not to raise capital or sell goods without meeting the prescribed conditions.
Pictures of Van Don – Mong Cai highway
Mong Cai City Party Committee stated that in the coming time, when the Van Don – Mong Cai expressway is completed and put into operation and many infrastructure investment projects of strategic investors are completed, opened for sale, and land prices in the locality. There is a risk of a sudden increase in the city’s table, causing a phenomenon of “virtual fever” that affects investment attraction and socio-economic development of the city.
In order to prevent illegal buying and selling, the Standing Committee of the City Party Committee requested the City People’s Committee, agencies, units, communes and wards to strictly manage real estate transactions among the people and the public. Real estate trading floor in accordance with the law, preventing land fever, “virtual land price”, real estate “bubble” market.
City. Mong Cai is determined to correct, prevent the sale and increase of land prices suddenly in order to stabilize the real estate market. At the same time, it is recommended that people be careful with unfounded information in the market to avoid risks.
This timely move of the government has prompted many investors who are researching the Mong Cai market to make timely decisions. An investor in Hanoi said that he did not put down money immediately after learning about projects that were not eligible for sale but still advertised and sold in Mong Cai.
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