Land registration offices at some outlying districts in HCM City have been extremely busy due to recent rising land prices in the area.

According to staff at District 12's Land Registration Office, they've been receiving a large number of local people coming to submit their files for land transactions over the past two years.

“Land prices in District 12 started to increase in 2015 which has attracted a lot of investors," he said. "We’re having to work at full capacity every day to serve the high demand for land transactions."

At the District 9 People's Committee Administrative Office one morning early this year, a long queue was seen where people were discussing land trading issues.

A middle-aged woman, Nguyen Thi Sau, said that she came to complete papers to sell a 100-square-metre land lot on Do Xuan Hop Street.

“I bought the lot three months ago at the prices of VND3.6 billion (USD158,660)," Sau said. "Now I'm going to sell it at VND4 billion (USD176,289). That was a good investment. I'm going to invest in another lot on Tay Hoa Street."

Land transactions are busy not only in District 9 and 12 but also in some other outlying districts including Binh Tan, Hoc Mon and Binh Chanh. 

According to a real estate company in Binh Tan District, the real estate market in the area has been fuelled by the rising land prices in the city's suburbs since early 2016.

"Land prices have been steadily increased over the past three years," the company said. "By early this year, many houses in District 12, District 9 or Tan Binh have seen their prices doubled compared to late 2015. That's why these areas are attracting lots of investors."

Speaking about the issues at a recent meeting with leaders of local districts, vice chairman of HCM City People's Committee, Tran Vinh Tuyen, said that the rising land prices are partly caused by investors who are giving false information about future projects in the area to attract buyers.

"Authorities in these areas should intensify the management of land and update information for local people to prevent possible cheating in land transactions," Tuyen stressed.

People come to submit their files for land transactions at the Land Registration Office in District 12 on April 9

Long queue at the District 9 People's Committee Administrative Office

A couple check a land lot in District 9

Dtinews