With more than 1.5 billion VND in hand, Nguyen Minh Tu (from Kien Thuy, Hai Phong) is looking to buy a small house to have a stable place to live in Hanoi.
However, after searching for a house for 6 months, Mr. Tu said that it was almost impossible to find a house worth more than 1 billion VND in the center of Hanoi. The broker introduced him to some cheap interspersed plots of land priced at only 10-20 million VND/m2 to build a temporary house.
"The broker gave me information about some plots of land around Ha Dong, Nam Tu Liem, Hoai Duc areas, about 30-40 square meters, priced at only a few hundred million VND.
In general, interspersed land has the advantage of being cheap, conveniently located, often located between densely populated residential areas, with completed surrounding infrastructure, and the opportunity to convert the purpose of use to residential land. However, because the purchase and sale documents are only handwritten, there are many potential risks, so I do not want to take the risk" - Mr. Tu said.
According to a survey by Lao Dong Newspaper reporters, the buying and selling of interspersed land is quite common on social networking sites and real estate websites with price segments based on location and area.
For example, a plot of land in Dai Mo area (Nam Tu Liem district) with an area of 43 square meters, near Aeon Mall Ha Dong, is being offered for sale at a price of 370 million VND, equivalent to about 8 million VND/square meter. According to the broker, the land currently has a handwritten sales document. If the customer decides, the transaction will be conducted in the form of a notarized document.
"This land has been fully taxed so customers can rest assured. The owner wants to sell quickly so customers with good intentions can negotiate further. When buying the land, you can build a factory or a small house of level 4, or a non-permanent 1-storey house" - said the broker.
Or in Dinh Cong (Hoang Mai district), a 40m2 interleaved plot of land is being offered for sale at 650 million VND, equivalent to more than 16 million VND/m2. Because it is interleaved land, this plot of land will also be bought and sold under the form of a notarized document.
A plot of land in Song Phuong (Hoai Duc district) with an area of 100 square meters is being offered for sale at a price of 1.1 billion VND, equivalent to about 11 million VND/square meter. According to the broker, the plot of land is only about 400 meters from the Thang Long Boulevard and Ring Road 4, so it is very convenient to travel.
Interstitial land is garden land, agricultural land located in urban residential areas, or surplus land after planning that has not been recognized as residential land. Normally, these types of land do not have land use right certificates, but are only transferred through handwritten documents. Therefore, the price of these types of land is often half, even 1/3 cheaper than land with full documents in the same area.
According to Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club, people who buy interspersed land with the purpose of converting it into residential land may face many risks.
First, transferring land in forms that are not notarized or legally certified may render the transaction invalid. Second, if buying interstitial land without a clear origin or valid documents showing the right to use the land, the buyer may face the risk of land repossession or land use rights disputes.
In addition, buyers may have difficulty converting land use purposes and are not allowed to build houses. Therefore, when buying interstitial land, people need to carefully understand the legality of the land to avoid risks.
