The land price market changed positively before the Law on Real Estate Business took effect, making Mr. Tran Van Tinh (Ninh Kieu District, Can Tho City - character's name has been changed) excited when he had the opportunity to collect money. cash flow buried in the ground for many years. In 2022, this investor spent 1.8 billion VND to buy 2 plots of land near the center of Can Tho City, but the market plummeted so he has not received cash flow.
"I'm a small investor with little capital. I kept pouring in as much as I had, so the market plummeted without having time to react. Last week, another investor bought a plot of land. Because I needed capital urgently, I sold it early. , making a profit of about 100 million VND," Mr. Tinh said.
Previously, due to financial constraints, this investor accepted a 20% discount to sell a plot of land, contributed capital to buy a new plot of land with a better location, waiting for the opportunity to catch the wave at the end of the year.
Joy also came to Mr. Tran Tuan Khanh (Ninh Kieu district, Can Tho city) when one of the two premises "soaked" for 2 years was sold, recovering the capital of trillions of billions.
"If I sell a premises, I can recover the initial capital and repay previous loans," Mr. Khanh said.
It is known that previously, Mr. Khanh spent a capital of 700 million, bank loan and hot loan of 1.5 billion VND to invest in 3 business premises and rent them on Nguyen Trai and Tran Hung Dao streets (Ninh Kieu district). ). However, due to economic difficulties, despite the price reduction, it has not been sold for the past 2 years.
As for the remaining space, this investor decided to "soak" and wait for the wave at the end of the year. "When the law is implemented, land will probably be scarce, prices will be high and it will be difficult for buyers to access it. I will keep this apartment space, maybe at the end of the year the profit rate will be positive," Mr. Khanh said. .
According to forecasts of the Can Tho City Real Estate Association (CaREA), in the third quarter of 2024, primary supply will continue to be scarce, land prices may increase by 10-20% compared to the beginning of the year.
CaREA also forecasts that the luxury apartment segment will become a new settlement and investment trend, which will be positively received. Secondary selling prices are flat and tend to increase slightly. The land segment will increase in price when the regulation that it is not allowed to divide plots for sale in special-class urban areas, urban areas of class I, II, III, takes effect.
Regarding the regulations tightening subdivision and sale of plots of the Law on Real Estate Business, Mr. Nguyen Anh Que - Member of the Executive Committee of the Vietnam Real Estate Association (VNREA) - said that this regulation will limit the situation of speculation, because the land must be built on houses before opening for sale, the total value of the product is high, making it unattractive to investors.
Second, the state collects larger tax sources. Finally, it will help screen the investor's capacity to implement the project. In particular, land prices will increase in the near future due to scarcity of supply.
