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Land prices on the edge of Ho Chi Minh City continuously peaked

Going to the periphery to buy land to catch the “wave”

Mr. Tran Minh Khanh (38 years old, real estate agent) said that recently, many customers contacted brokers, looking to buy land near Ho Chi Minh City. In which, a few have real housing needs, while the majority of customers are investors, buying land to wait for the market wave.

“Ho Chi Minh City’s housing prices are too high, many people do not have enough capital to invest, so they move to the periphery. Especially, the areas are “hot”, highlighting the planning information, attracting more investors. Like emerging areas such as Phu Giao and Bac Tan Uyen in Binh Duong, there are constantly many people buying land to welcome the infrastructure wave”, Mr. Khanh shared.

Over the past time, the real estate market near Ho Chi Minh City has witnessed strong growth in many segments. Notably, real estate is a very attractive segment for investors.

The report of DKRA Vietnam shows that, in the first 3 months of 2022, land plots are the segment that investors are most interested in. This is also the hottest type of real estate in more than 2 years of the epidemic.

Accordingly, when land fund in Ho Chi Minh City is increasingly scarce and urban land prices skyrocket, many real estate giants and investors have turned to suburban areas to look for opportunities. Neighboring localities still have a large land fund, plus changes in planning, infrastructure, and traffic connections are also factors to attract investors.

Land prices near Ho Chi Minh City continuously peaked - Photo 1.

Land plots in the suburbs are attracting investors. Photo: LS

Commenting on the development of real estate in the vicinity, Mr. Ngo Quang Phuc – General Director of Phu Dong Group said that Binh Duong, Dong Nai and Long An are one of the localities with many real estate projects. When the demand for housing of people living and working in Ho Chi Minh City is too high, but the city cannot meet it and prices increase sharply, buyers are forced to drift to the suburbs.

At this time, the real estate market of these provinces will quickly receive waves. In particular, the segment of land plots in suburban areas with reasonable prices is attracting investors and residents, welcoming the wave of “shifting” from the Ho Chi Minh City market to the asymptotic area.

Land prices near Ho Chi Minh City continuously peaked - Photo 3.

The trend of shifting investment to provinces near Ho Chi Minh City is booming. Photo: LS

Sharing the same view, Mr. Nguyen Quoc Anh – Deputy General Director of Batdongsan.com.vn said that the trend of shifting investment to provinces near Ho Chi Minh City is booming and will continue to increase with the wave of development. infrastructure development and price fluctuations. Currently, real estate prices in big cities are anchored at a high level, so the profitability from this location is lower, causing investors to find opportunities in surrounding areas such as Dong Nai, Long An, and Binh Duong. , Binh Phuoc borders Ho Chi Minh City.

Land plots in the coastal areas continuously “blow up prices”

Welcoming the wave of investment, the price of land in the suburbs has also continuously increased in recent years. Specifically, according to data of DKRA Vietnam, in the first quarter of 2022, the Dong Nai market recorded a 7% increase in land price. Meanwhile, Binh Duong, Binh Phuoc and Tay Ninh saw a sharp increase in land prices by 27%, 23% and 17% respectively. In Long An alone, the last quarter also saw an adjustment in land price by nearly 13% over the same period in 2021.

The survey shows that, in Binh Duong market, the average land price in Thu Dau Mot, Thuan An and Di An is more than 40 million VND/m2. In Ben Cat, Tan Uyen with information about to go to the city, the land price has also touched the threshold of 20 million VND/m2 in the central areas, near the industrial park. Meanwhile, Phu Giao and Bac Tan Uyen, although newly developed markets, are gradually approaching.

In Long An, Duc Hoa district, the news to the city also made investors hunt for land plot projects. Only in March, real estate transactions in Long An increased the most compared to ever. Duc Hoa, Ben Luc, and Can Duoc districts are places with a lot of supply. In which, Duc Hoa increased the highest compared to the period before Tet and reached the highest level in the last 6 months.

Land prices near Ho Chi Minh City continuously peaked - Photo 4.

The price of land in the suburbs is skyrocketing. Photo: LS

In Dong Nai, the most active land market is in Nhon Trach and Long Thanh (Dong Nai) districts. Housing prices are constantly hot because of the “super” Long Thanh airport. The increase in land prices in the two districts reached 15-20% compared to before. The land price recorded in Long Thanh in the second quarter of 2021 is 600-700 million VND/land, now more than 1 billion VND/lot. In Nhon Trach, the price of land on the roads from less than 20 million VND/m2, now has increased to 40-50 million VND/m2.

Despite the high price of land plots, the localities of Long An, Dong Nai and Binh Duong are still places that continue to attract investors. Dr. Pham Anh Khoi – Chief Economist and Director of Dat Xanh Services Market Research Institute said that land in the suburbs will continue to increase in price in the near future.

However, according to Mr. Khoi, currently, the real estate market still has many developments that need attention. It is a local “virtual land fever”, leading to high prices but not many transactions. Therefore, buyers need to be alert in the “fever” of the land because the consequences when the fever passes are very large. Especially legal risks, such as subdivision, illegal land sales or lack of understanding of project planning, while the real estate value is not small.

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