“Stunned” with real estate prices in Dong Nai

The price of land in Dong Nai is 10 times higher than in Tay Ninh

According to statistics from the Market Research Department, DKRA Vietnam, in the first quarter of 2022, the entire Ho Chi Minh City real estate market. Ho Chi Minh City and neighboring provinces recorded about 11 projects for sale. In which, there are 7 new projects and 4 next opening and selling phases, providing about 1,832 plots to the market.

The number of platforms launched into the market was equivalent to the level in the fourth quarter of 2021 (about 1,834 units), an increase of 32% compared to the same period in 2021.

DKRA Vietnam believes that the new supply has not changed much compared to the last quarter of last year. Long An led the whole market, accounting for 43% of supply and 56% of new consumption in the quarter. In this market, products are mainly concentrated in Duc Hoa district (86%) and Can Giuoc district (14%).

Meanwhile, City. Ho Chi Minh City continues to be in short supply for new sales. The transactions are mainly in the form of individuals who subdivide lots, small scale of less than 2 hectares and in the periphery areas.

In addition to Long An and Tay Ninh markets, in general, the market demand continued to remain at a low level, with little change compared to the previous quarter. However, the overall consumption rate of the whole market reached 68% with about 1,240 units received by the market, a slight increase of 6% compared to the previous quarter and the same period in 2021 (about 1,174 units) showing that this segment is showing a signal. The recovery is quite positive.

  Stunned with real estate prices in Dong Nai - Photo 1.

As noted, the primary selling price recorded a popular increase of 3-7% compared to the previous quarter. In which, in Long An market, the price increased from 4-6%, ranging from 14.1 to 36.3 million VND/m2. In Binh Duong, prices increased by 3-5%, ranging from 11-52 million VND/m2. Ba Ria – Vung Tau has a primary price ranging from 11 to 55 million VND/m2.

Especially in Dong Nai, there have appeared projects with quite high prices, up to 74.1 million VND/m2. While the highest price in Tay Ninh recorded in the last quarter was only 7.4 million VND/m2.

DKRA Vietnam said that investors are still maintaining policies to support discounts and payments to improve sales efficiency. Liquidity in the secondary market also continued to recover, especially in the provinces of Long An and Ba Ria – Vung Tau.

Agricultural land is traded at a “huge” price

In fact, over the past time, Dong Nai has continuously welcomed the crazy land fever, even agricultural land in this area is also widely sold at “terrible” prices.

Mr. Trinh Tuan Anh – Standing member of the Vietnam Real Estate Brokers Association said that the launch of national, regional and provincial transport projects has made real estate in Dong Nai and many other provinces and cities vibrant. There are many areas where the land price is “virtual fever” causing confusion for the market, partly because the real estate brokerage force lacks professional ethics and has not been professionally trained.

Since 2019, there have been regulations to sanction violations in real estate brokerage, but no broker has been fined, so no one is afraid. Also according to Mr. Tuan Anh, in order to limit the chaos in real estate brokerage, it is necessary to strictly handle violations.

  Stunned with real estate prices in Dong Nai - Photo 2.

Through researching in the locality, the brokerage and establishment of real estate transaction points is very easy, anyone who wants to participate can also. In addition to the real estate sale and purchase signs that are widely planted on major roads, just go to the internet with a few clicks to find hundreds of “land storks” for sale of all kinds of land everywhere.

Previously, Mr. Vo Van Phi – Vice Chairman of Dong Nai People’s Committee said that although agricultural land in Dong Nai is no longer attractive to investors, but because many people bought it at a high price, it could not be reduced deeply. The price of agricultural land in the province has formed a relatively high new price.

Specifically, areas far away from roads that have not been invested are priced at 1.5-2 billion VND/ha, areas with big roads cost 5-10 billion VND/ha. Agricultural land areas are planned at a price that can be up to 40-60 billion VND/ha.

“Currently, the land use planning for the period 2021 – 2030 has been approved. The districts, Long Khanh city, and Bien Hoa city must soon organize a public announcement for the people to know for proper implementation. For agricultural land, localities must strictly manage it so that illegal construction does not occur.Intentional violations of land must be strictly handled in accordance with the law and forced to serve restore the status quo,” the leader said.

According to Minh Tam

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