Selling a 3,900m2 agricultural land plot (including 300m2 residential land), Mr. Nguyen Van Duc (Tan Xuan commune, Hoc Mon district) accepted a 5 billion VND reduction compared to the previous selling price but still had no buyers.
"My land is 80m wide, with an 8m frontage, running along the canal bank, suitable for running a restaurant or building a factory. At the beginning of 2023, someone offered 50 billion VND, but I did not sell it because I thought the price would increase even more. When there was information that the City would increase land prices, I offered 50 billion VND, but no one bought it. After that, I agreed to reduce it to 45 billion VND, but I still could not sell it," said Mr. Duc.
According to Mr. Duc, if there is a buyer now, he is willing to reduce the price by another 2-3 billion VND in hopes of selling the land. Because if he keeps it, his family will not be able to spend tens of billions of VND to convert it to residential land.
Mr. Tran Van Thanh (52 years old, living in Hoc Mon district) is a real estate broker with 12 years of experience in the profession. His main brokerage segment is agricultural land interspersed with residential areas, but he has temporarily "given up" on this segment and switched to brokerage of townhouses because he has had no customers in the past few months.
"Previously, the agricultural real estate segment was always sought after by many people, because the price was much lower than residential land. After buying, people applied to convert it to residential land to build houses, while businesses or investors could divide the land into plots and sell them and make big profits. However, since the information that the City applied new land prices, this segment has frozen. For more than 3 months, I have not had any transactions" - Mr. Thanh said.
Mr. Pham Van Dong, Director of District 12 real estate brokerage, said that since the information about the change in land prices, the company's agricultural land baskets have not had any customers contacting them.
"Unlike before, agricultural plots of land with affordable prices, suitable for many people's budget, were constantly called to make appointments to view the land. Meanwhile, these plots of land now have almost no customers interested, even though the landowner has reduced the price compared to the previous selling price," said Mr. Dong.
