Land in Ho Chi Minh City has a phenomenon of price decrease, neighboring provinces land transactions remain stable
The market of land plots has mixed movements, while the real estate in Ho Chi Minh City has a decrease in prices in some areas, the surrounding land plots in neighboring provinces are still quite good at this stage.
Land in Ho Chi Minh City has room for a discount of VND 200-250 million / lot
Understanding the land market in some areas along Ho Chi Minh City shows that, besides the slowdown of transactions, the price reduction phenomenon in some areas. Worth mentioning, despite the discount, it is difficult for brokers to issue goods.
In District 9, Ho Chi Minh City, the survey of land plots in P.Long Truong showed that the land lot area of more than 50m2 offered from VND 2.3 billion / ground (as of June 2019), currently, investors have reduced their prices to VND 2,080 billion / background. According to brokers, although the price reduction but sales are also quite slow.
Or, land plots of 54 - 55m2 in P.Long Phuoc are offered at VND 1,850 billion / ground, while 3 months ago, the same plots sold for VND 2.1 billion / ground.
The land surrounding Ho Chi Minh City has cooled since the end of 2018
In Binh Chanh and Nha Be districts, some land plots in KDC also fall into the same situation. In early 2019, some investors sent brokers to sell 75m2 of land with the price of 870-900 million VND / ground, currently the same area of land, brokers are accepting to sell to investors at 720 million VND. Meanwhile, some land lots near Tan Tuc town are offered 20 million dong / m2. Compared to the time in May 2019, this price has decreased by about 1 million VND / m2.
The broker said, some investors are in urgent need of money, want to sell out quickly can reduce the price to 250 million / lot to sell. However, the delivery is not as easy as before because the number of customers looking to buy has decreased compared to the past.
According to research, from the end of 2018 to the middle of 2019, the land market in the suburbs of Ho Chi Minh City, especially in the previous hot markets such as District 9, Hoc Mon and Cu Chi districts ... cool down ”but the price hasn't decreased. Even in some locations, prices still increase steadily about 10% within 4-6 months. From about July 2019 to the present, the real estate market in Ho Chi Minh City has the phenomenon of "standing still", the price does not show an increase or increase but "inched up". By the end of the year, when many investors want to sell goods to collect cash flow to reinvest in other areas, it is difficult to find buyers. Although accepting a discount for a quick sale is no longer easy.
It is known that, despite a few hundred million dong / lot reduction, if compared to the price that investors bought earlier, investors still "profit" pretty much. Recently, in the context of the slowdown of the market, the purchasing power decreased, so an investor who wanted to sell goods should accept a discount to collect cash flow. Moreover, the increase in the price of land in Ho Chi Minh City has reached a galloping point throughout the years, so according to experts, the price has decreased but is still quite high compared to the actual demand of the market.
Land in neighboring provinces is still stable transactions
Contrary to the picture of the land market in Ho Chi Minh City, land plots in areas such as Nhon Trach, Long Thanh (Dong Nai), Ba Ria - Vung Tau, Long An, Binh Phuoc ... the purchasing power recorded is still quite good. Plots of land priced from 820-980 million VND (in remote locations) still appear in these areas, which is considered as the reason for the inflows.
Sharing the picture of the real estate market at this time, experts have given the assessment: The advantage belongs to the real estate market in the neighboring province of Ho Chi Minh City when the selling price is soft, expecting to increase prices. of investors is still quite good.
The fact that the market of the provincial areas recently shows that the purchasing power of land plots is still stable, many investors sell real estate in the city and re-invest in the projects or land of indigenous people in the neighboring provinces. Although there are not many options like before, but buyers still tend to seek affordable land for investment, waiting for the time to rise.
In the provincial market, transactions are still stable
Previously recorded in the notary public offices in Nhon Trach, Long Thanh, or Ba Ria - Vung Tau districts, there are still quite a number of notarized land records done. In particular, in Nhon Trach district, most of the notary public offices are always crowded with people at times of the week. Here the past months are witnessing the activity of "hunting" the ground of the object of investors in the North. Trading on some brokers took place regularly.
Industry experts believe that information on transport infrastructure is considered a bright spot for the provincial land market at this stage. Cash flow of investors gathered here to catch up with a reason. They expect the profits to be high when infrastructure projects exist. However, investors also believe that, with the current difficult context, they do not expect high profit margins in a short time like before. The time they invest also extends but it is difficult to surf.
Representative of a broker floor on Hung Vuong street (Nhon Trach) said that currently the average transaction of the floor is about 20 plots / month. As for the time 1.5-2 years ago, many times this number. In fact, not all real estate floors in this area have stable transactions, there are also floors with no goods to sell or sell slowly but in general, it is still quite good, but not to the level of "standing transactions".
Ha Vy
According to Young Intellectuals
