Land prices in Da Nang have risen by 20% since the beginning of the year, with sharp increases in the past few months reaching hundreds of millions of VND per plot. This has led to a wave of price hikes, canceled deals, and market uncertainty.

Market disruptions: Sellers raise prices, deals fall through

Recently, real estate forums in Da Nang have been flooded with posts about a "land fever," featuring fluctuating and inflated prices.

One user lamented: “I’ve been holding 2 billion VND for a month and still can’t buy anything. Prices are so chaotic. The same property costs 200-300 million more after just one week.”

Cancelled high-value deal: Nguyen Manh, a local real estate agent, shared that a client from Hanoi agreed to buy a 22-billion-VND plot in An Thuong (Ngu Hanh Son District). However, when they arrived to finalize the deal, the seller increased the price, citing rapid market changes.

Mid-range price hike: Another case involved a 100m² plot priced at 4.6 billion VND in Cam Le District. By the time the buyer arrived to sign the agreement, the seller had raised the price to 4.7 billion VND.

Manh explained that many sellers are hesitant to part with their properties, fearing they won't afford a replacement due to rising prices. Buyers, meanwhile, are discouraged by inflated costs, causing a slowdown in market transactions.

According to a survey:

Nam Hoa Xuan: Prices range from 33–45 million VND/m², with premium lots reaching 68–70 million VND/m².

FPT Urban Area: Starting at 34 million VND/m².

Hoa Xuan: Prices hover around 40 million VND/m².

Examples:

Thanh Luong 15 Street: A 100m² plot costs 4.2 billion VND.

Con Dau 18 Street: Approximately 4.3 billion VND/plot.

Con Dau 24 Street: Priced at 4.4 billion VND/plot.

These prices reflect an increase of 300–400 million VND per plot compared to a few months ago.

What’s driving the surge?

Nguyen Dau, manager of Rong Do Real Estate Exchange, attributes the increase to several factors:

Demand from the North: Investors from northern regions are purchasing properties in Da Nang.
Supportive news: Developments such as the free trade zone in northwest Da Nang and the University Village project in the southeast.

He noted: “The market is chaotic, with practices like reselling deposits, canceled deals, and price hikes. Buyers looking for residences are shocked by the new prices, with some plots rising by 300–400 million VND within a month.”

While the market is heating up, Dau warned that actual transaction volumes remain low, indicating limited liquidity.

Expert advice: Be cautious, avoid speculation

Nguyen Duc Lap, Director of the Institute for Real Estate Research and Training, confirmed that Da Nang’s land prices have grown over 20% this year due to favorable developments: Approval of the free trade zone pilot project. Establishment of a regional financial center. Progress on the University Village project.

However, he cautioned against the rapid price increases seen in the past month:

“Many sellers fear they won’t find a replacement property due to limited supply. Currently, most available plots are in the secondary market.”

Lap predicts that while the long-term outlook is positive, unsustainable spikes - such as 10% monthly increases - will lead to a market pause.

He advised investors to: Avoid short-term speculative "flipping." Prioritize long-term investments. Use financial leverage wisely to mitigate risks.

Dieu Thuy