Latest News about land speculation
Real estate, in the eyes of investors, is the most profitable and least risky business field.
A “land fever” is spreading throughout the country, from the North to the South, from the lowlands to the mountains. Everywhere, the price for land of all kinds, from housing to industrial to farming land is increasing.
The market often cools down when periods of "land fever" end, but then new higher price levels reoccur later.
Land prices unexpectedly escalated after Tet holiday, though Vietnam is still struggling with Covid-19 and people have had to tighten their purse strings during the pandemic.
The Da Nang Department of Natural Resources and Environment has warned that the tricks of several property speculators could drive up land prices in the central city after recent announcements of adjusted master planning.
The real estate market remains feverish not because of high demand and short supply, but because of speculation, experts have said.
A leading Vietnamese real estate developer has reported an additional loss of tens of billions of dong, raising its total loss in 2020 to VND500 billion, though land prices are escalating all over the country.
HCM City will organise an auction to seek investors for the right to use nine land plots in the Thu Thiem new urban area in District 2.
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.