For sale a land lot of 50 million VND/m2, no one has bought it yet, a month later saw the neighbor “give” the price doubled, but I don’t understand why
Having been charmed with real estate since 2015, when the market has gradually recovered and warmed up, Mr. N. (Gia Lam, Hanoi) admits that he has never witnessed the time of land fever with strange happenings. so.
Mr. N. said, more than a month ago, he advertised a plot of land of 70m2, a car came in, a square plot of land in Gia Lam area for 50 million VND/m2. Because he needed money, he decided to sell this plot of land. Mr. N. also said that the actual price of 50 million VND/m2 is based on the general market price. Previously, he only bought this land plot for 42 million VND/m2.
Posted on real estate information channels, but 1 month later, Mr. N. still has not found a key customer. However, the thing that surprised Mr. N. the most was that the next-door neighbor’s plot of land was for sale for 100 million VND/m2.
“I was a bit shocked. Because the neighbor’s plot of land is not as beautiful as my house. The location is deep inside, not airy. The form of the plot is not square. But the price has doubled. I Looking around this area, there is no information to create a fever. For example, information about Gia Lam coming to the district has appeared for a long time, and the surrounding roads have not had new information on improved planning. Even new projects appear not to be found. I don’t understand why the land price has increased so much,” said Mr. N.
Also according to this investor, usually land prices go up based on good information such as: the project is about to appear, the planning to open the road, improve the road, the district to the district or the town to the city… Mr. N. Admittedly, during the market survey, real estate prices sometimes increase virtual, triple, even 5 times. But the price increases according to the general rule, which is based on a real wave-making information. “What I find strange is that in my place, the price of land has increased without knowing what is the reason? While I sold 50 million VND/m2 without any close customers. Neighbors sold up to 100 million VND/m2”.
Sharing about the story of land increase not on a real basis, Mr. NMH (leader of real estate business) said that in 2008-2009, real estate also increased like that. All of these moves cause land prices to increase unexpectedly and unreasonably. The time of the virtual fever was when the price of land was really high, it didn’t matter how the market demanded it, or if the buyers were real.
According to Mr. H, before that, a plot of land in Soc Son had increased up to 5 times based on information that Ring Road 4 would do. The price increase beyond the current exercise value occurs in many areas. However, the consequence is that when the market fluctuates, the price will drop.
The market report of the Vietnam Real Estate Brokers Association noted that real estate prices continued to increase despite the Covid-19 epidemic. However, real estate prices increased but liquidity did not increase commensurately.
Dr. Nguyen Van Dinh – Chairman of the Vietnam Real Estate Association said that the actual transaction is low, limited by the price being pushed too high, the price does not reflect the true value. Investors, buyers also calculate the value to a reasonable extent. Therefore, people with real needs will not buy products that are overpriced, leading to poor absorption.
This expert also admitted that the supply is very scarce, knowing this situation many brokers and speculators continue to push the price up, but many places pushing the price too high will have no buyers. However, people with real housing needs are looking for areas with reasonable prices and reputable investors. Therefore, projects that meet the legal and price criteria will still have good liquidity.
Business and Marketing
at Blogtuan.info – Source: cafebiz.vn – Read the original article here
