Real estate market turbulence: Very little land fever, a lot of “virtual fever”

Land prices are on the rise

In the first months of 2022, the real estate market in some areas such as Dong Nai, Long An, Binh Duong, Ha Tinh, Binh Phuoc… stand.

Taking advantage of the information of the localities to adjust the planning, the “stork” of land massively pushed the value of the land up high, even agricultural land, land in the planning area … were also for sale at “heavenly” prices. . The increase in land prices has not shown any signs of stopping yet. Over the years, after each “land fever”, a part of investors got rich by buying early and selling quickly, but there are also many people who can’t find output.

Mr. Thanh – an investor in Hanoi said: “I bought 2 land plots in a project in Bac Giang in early 2021, about 100m2 each at the price of 1.5 billion VND/lot. Near the end of 2021, I transferred a profit of 400 million VND each.

However, also in this area, another speculator, Mr. Nguyen Thanh Van, was unlucky. Mr. Van said that at the end of 2021, he bought a piece of land for VND 2.3 billion, an area of ​​​​100m2, thinking that the land price is increasing, will take profit soon, but in the past 4 months, he has put it up for sale, even thanks to the staff. The broker sold it back at the original price but still couldn’t get the goods out.

“I thought that while real estate was hot, closing would be easier. But in fact, in the past time, I have asked many brokers but still cannot sell that land. Some people in this area can still sell, but the amount of transactions I observe is quite small, the purchase and sale is like luck”, Mr. Van shared.

Before buying and selling at the bottom of real estate products, Mr. Nguyen Van Hai – a long-time investor in Hanoi said that currently, real estate prices in some localities still have many shortcomings, too high compared to the real estate price. actual value. This is not the law of the market economy, but rather the manipulation for profit of a part.

For example, in the face of unclear information about planning, social or local infrastructure from district to district, or district to town… is the “stork” of land, some businesses do illegal business instead. Each other “blows up” the price of land, for staff to perform bustling trading scenes to attract gullible speculators.

Strongly tighten the rumor of “blowing” the price

Before the real estate market turmoil, Mr. Le Hoang Chau – Chairman of Ho Chi Minh City Real Estate Association (HoREA) said that the transfer tax should be high, if investors buy and sell again, they will be taxed. high in the first few years of the transfer. At the same time, the State also needs to tax those who have a lot of real estate and tax a high rate if the land is not put to use. In addition, it is necessary to strictly handle organizations that show signs of abetting, “dealers”, “strikers” spreading rumors and gossip for profit.

“In order to limit and prevent the situation of “virtual land fever”, the government needs to be transparent and publicize information about planning and land use plans…, avoid the case of hiding information and then giving it at the wrong time. , creating opportunities for speculators to take advantage of information, such as viewing planning information as implicit information. Information transparency is the core to creating a transparent real estate market. When everything is transparent, the phenomenon of virtual fever and fake fever will hardly have an environment to form “- Mr. Chau analyzed.

Mr. Su Ngoc Khuong – Senior Director of Savills Vietnam said that the story of land “fever” is still a long story, it is difficult to end overnight and it is a hindrance to the development of the country.

Therefore, more than ever, the State management agencies now need to take more drastic and radical measures to prevent this situation. In which, it is necessary to propagate and raise awareness for the people so as not to be swayed by incomplete information.

In addition, there is a tax imposed on the behavior of land users but slow to put the land to use with a high tax rate in order to eliminate the will to “hold” land and to prevent land speculation, creating land fever.

According to CafeF