“Falling back” when the 5-year savings is still far behind the country’s land price
In the current context, with the rapid urbanization in big cities like Hanoi, the land fund in the central area is increasingly scarce. Therefore, the price of land in the inner city is increasing, many investors in Hanoi tend to move to rural areas in search of opportunities.
Investors appear in the countryside, making land transactions in the upper and lower villages become bustling. Accordingly, the price of land in the countryside is also increasing rapidly, causing Mr. Nguyen Van Minh, born in a rural area in Nam Dinh province, to share: “Graduating from university, working for 9 years, working in big cities like the city. Ho Chi Minh City with a salary of 35 million VND/month, this is considered to be the highest salary compared to the average income in Vietnam, “said Minh.
When the Lunar New Year was over, because of the stressful epidemic situation, he stayed in Ho Chi Minh City. Ho Chi Minh City, just keep your family safe as well as yourself. Recently, Mr. Minh returned to his hometown to visit relatives, heard from everyone, he also had to “fall back” because the land price continuously increased “suddenly”, compared with his savings in 5 years. not enough to buy a piece of land in my hometown in recent years.
“Many people boast that, after selling their land, they have billions of dollars in their hands to save capital, do business, and rebuild spacious houses. My cousin, who was still studying at university in Hanoi, has now left town to return to his hometown to work as a real estate broker. Not only my younger brother but also many other people in the countryside, even though they have jobs, they also left to work as a land broker,” Minh said.
According to Mr. Minh, in the last 5 years, the amount of money saved in his hand is about 1 billion VND. But if he used all this money to buy a piece of land in the countryside located on a major road, he would still be short of 50%.
“A piece of land with an area of about 100m2, with the lowest price on the main road is 15 million VND/m2, it takes 1.5 billion VND to buy, not including the cost of transferring the name or paying taxes. And in the lane where cars run, it costs 8-9 million VND/m2. My salary is also high, but after 5 years of working, it is still not enough to buy a piece of land in the countryside. I happily told some friends who escaped from the countryside to work elsewhere like me that it is very difficult now to go back to the countryside to buy land to live in later, “Mr. Minh said with a laugh.
And Mr. Hoang (born in 1988, hometown of Ninh Binh) said that in 2011 he graduated from university in Hanoi and went to work with a starting salary of 6 million VND/month. This salary is only enough for him to live and send back to his hometown, so he has not accumulated any money.
After many years of experience, his salary gradually increased to 25 million VND/month. At this time, he was thinking of saving to buy a house and get married. Currently, he has about 800 million VND in hand. With this money, he also plans to buy a piece of land in the countryside.
However, during the last Tet holiday back home, Mr. Thinh was very surprised when in just 2 years the price of land in the countryside had increased 2-3 times. Investors appear in the countryside, making land transactions in the upper and lower villages become bustling. Wherever you go, you will talk about buying and selling land.
There are plots of land located in the alley that were once thought to be of no value, now they are also up to 5-7 million VND/m2. There is a land auction in an urban area project, up to 13-17 million VND/m2.
Many people in the village previously only worked in agriculture, the economy was difficult, but after selling the land, they had billions of dollars in their hands to rebuild spacious and beautiful houses.
Mr. Nguyen Van Dinh, Chairman of Vietnam Real Estate Brokers Association, said that real estate is one of the channels people choose to invest the most in recent times.
“During the two years of the epidemic raging, the amount of transactions poured into real estate increased due to spare money, many people turned to land as a long-term profitable investment channel. This explains the wave of rushing into real estate in the past time, “said the expert.
However, an unusually high price will create a build-up of bubbles. Therefore, although at this time, the price of land in the suburbs of Hanoi is not as “bulging” as in previous years, but the current rate of increase is also a warning sign for investors to be careful.
“A sad consequence is that when the price of land establishes a new ground, in many cases, that price exceeds people’s income and many people, even with real housing needs, cannot afford to buy land,” he said. Mr. Dinh made a point.
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
