Buy land like a moth, the fever cools down, race to sell to cut losses

Land fever in some provinces and cities in recent years, there are speculators who surf easily to make billions, but there are also many investors who do not study carefully, run after virtual fever and invest in goods. billions of dong on selling projects without buyers. Land fever returned after 10 years, when it cooled down, many investors also fell into trouble.

As noted by the reporter, the situation of land transactions in many localities near Hanoi city or beyond is still very busy.

Specifically, since the beginning of the year, the price of land plots in many localities has increased at a dizzying rate, averaging about 50-60% compared to the end of 2021. Even land plots in bad areas, poor infrastructure, land in poor areas. The small alley also suddenly increased in price, and many people bought it.

After 10 years, the land fever continued to break out due to many reasons. (Illustration image – Photo: Investment Newspaper)

“In the past time, when I received information that the land there was feverish, I, along with my brothers and friends, invited each other to contribute capital to invest,” shared Ms. Nguyen Huyen, a customer.

However, in the face of land fever, banks tightened their real estate lending activities and imposed high tax rates according to the market.

In particular, many localities have suspended the settlement of procedures related to the division of parcels, and at the same time have taken measures to control real estate business activities in the area. Therefore, the real estate market in many localities has also cooled down and gradually stabilized again.

“I think investment opportunities are always there, but investors must choose and avoid the phenomenon of investing in the majority. I should have a more complete assessment,” said Mr. Nguyen Hong Chuong, Rector of the University of Economics. national economy, opinion.

In 2010, the land fever caused the economy to inflation. Up to now, after 10 years, the land fever continues to break out due to many causes. However, before the warnings of experts and the tightening of the land management agency, many investors who “followed the land fever” that created waves now sold off, quickly exiting the heat reduction spiral. of the real estate market.