Từ khóa: #land prices

The consequences are severe as land prices inflate, farmers do not have land for cultivation and planning is disrupted.

After a period being tightened because of social distancing to prevent the Covid-19 pandemic, land fever has returned in many Southern provinces and cities.

Land prices in HCMC are rising sharply, and experts warn this can have negative consequences on public works and housing supply.

The bidding price for a land plot in the Thu Thiem New Urban Area is currently VND2.45 billion per sq. meter or over 40 tael of gold per sq. meter.

Vice-Chairman of the People’s Committee of Ho Chi Minh City Le Hoa Binh, on May 21, informed that to rectify the State management of land prices, the municipal People’s Committee entrusted the Department of Construction to strengthen management on real estate projects, especially future real estate projects.

High land prices and active real estate market in the Mekong Delta city of Can Tho show that the area is considered a gold mine to investors.  Problems have arisen, however, with the widespread dispersion of land plots, especially agricultural land, leading to unauthorized constructions and difficulty in management.

The recent land prices rush in Vietnam is mainly caused by real estate wholesalers, who boast prices and make people believe that prices would continue to rise if they don’t make investment soon enough. This leads real estate investors to purchase lands in order to try and cash in on the waves of upcoming infrastructure projects.

Whenever information on infrastructures of a town gets leaked, even as a mere proposal of the government, real estate prices of that area would immediately go up. The public as well as real estate investors must keep their heads straight against rumors of this type.