After the fever, investors “hug the land” to hug “bombs”

The land fever in Binh Phuoc at the beginning of 2021 has caused many investors to “lose sleep and eat” because they could not get out of the goods when the land fever passed.

Mr. Tran Tien Hung (an investor in Ho Chi Minh City) felt like sitting on a fire when he accidentally hugged thousands of square meters of agricultural land in Hon Quan (Binh Phuoc).

In early March 2021, he ran after friends, bringing money to Binh Phuoc to hunt land during the fever of Tec Nic Hon Quan airport.

After the fever, investors

Many people who hug the ground when they have a fever are now sitting on a fire.

Although he himself understands that the airport deployment is only a proposal on paper, with the mentality of surfing when the market is hot, not investing in the long-term waiting for the infrastructure, he is still steadfast in his goal of buying and then switching quickly to earn money. word.

However, things did not go as this investor calculated, the fever of Tec Nic land was cooled down too quickly, less than 2 weeks since its appearance. When he had just put down a stake of nearly 1 billion VND to buy a plot of rubber forest land, not yet had time to find someone to transfer, the government stepped in, the investors “run away” collectively, leaving him with a whole hectare of rubber forest land. sell to someone the same amount of money that cannot be withdrawn.

When I bought it, many people won big. I couldn’t get out in time, now selling at the same price as when I bought it, no one asked, now my plot of land worth more than 5 billion dong is still lying motionless, and I’m stooped to pay the bank principal and interest. Every day I worry so much that I can’t eat or sleep because I hug a “ground bomb”“, Hung shared.

Like Mr. Hung, Mr. Do Anh Cong (Hanoi) also suffered because of greed, when he plunged into a hot fever in Thach That (Hanoi).

At first, he only counted the broker to sell land back and forth, but during the land fever, each transfer transaction made hundreds of millions of dong, causing this broker to switch directly to investors, standing out to buy back the land plots of the company. other investors and then self-financed customers to trade the difference.

The first few plots of land were successful, but then when the market ran out of fever, many land holdings could not be sold. Mr. H himself also had to borrow money from all over the world to buy land, now the pressure to pay interest is weighing heavily on his shoulders as the money he earned from previous acquisitions has also been poured into buying land. .

Now I have a bunch of land that can’t be sold, I don’t know how to pay the monthly bank interest“, said Cong.

Mr. Le Hoang Chau – Chairman of the Association Real estate Ho Chi Minh City (HoREA) said that HoREA warned, but many people still risked and closed their eyes to buy high-priced land and could not sell it. In the past, there were many businesses that acted as “buyers”, blowing up the price of land and being dealt with, and buyers suffered damage. Therefore, those who intend to buy land at this time must be alert, have to find out carefully, do not lose money.

According to experts, the trend of surfing when the market is hot or catching the bottom to wait for the right opportunity is only for professional investors who are proficient in the market and have a long-term and strategic vision. The investors who “die from fever” are usually F0 investors, new to the market, investing in following the psychology of the crowd, understanding information slowly, with little knowledge and inexperience in the market.

As a market research expert, Dr. Su Ngoc Khuong, Senior Director of Savills Vietnam, said that the phenomenon of land fever could lead to immediate consequences for local people from the loss of their main source of income from agro-forestry. At the same time, for risky individual investors who have used financial leverage, it is very likely that they will lose their ability to pay if the market does not meet expectations.

In the long term, the macro economy and society will be negatively affected when people no longer focus on production, so, according to Mr. Khuong, transparency of planning information from the government and More alertness on the part of the people is a safety armor to prevent virtual fevers from breaking out.

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