Recently, the real estate market in the Mekong Delta has been flourishing, with prices continuously increasing. In Can Tho City, according to a survey on real estate websites, apartment and house prices are currently at 35-60 million VND/m2; land prices in Cai Rang, Hung Phu, and Nam Long areas are at 30-65 million VND/m2.
Despite high land prices, Mr. Nguyen Nhut Long (Ninh Kieu district, Can Tho city) still holds 2 plots of land and 1 house in the center because there are no transactions.
Mr. Long said: The market is somewhat better than last year but is still quite slow. There are more customers contacting us but most of them are just surveying because the economy is still facing many difficulties. After 2 years of advertising, no contracts have been closed despite the 2% price reduction per plot.
Talking about the situation of rising land prices, this investor said: "My land plot cost 25 million VND/m2 in 2023 and is now priced at 28 million VND. In fact, the land price has only increased by a few million compared to 2023, not much. This could be due to brokers creating a virtual fever to attract customers."
Posing as a person in need of buying land, the reporter was quoted 3.2 billion VND and 2.9 billion VND respectively by brokers for the same 95m2 plot of land. These brokers all committed to not being "involved" in planning, rare goods, and having a pink book.
Mr. Tran Minh Hau - owner of a real estate brokerage office in Ninh Kieu district, Can Tho city - said: "The fact that the price is pushed up, far from the actual value of the land, may be due to the owner, broker shouting out the price, creating a virtual fever, or "preemptively" to gain an advantage when negotiating the price with customers".
According to the forecast of Can Tho 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. The high-end apartment segment has become a new residential and investment trend, has been positively received, remains stable and may increase by 5-7%.
According to the Vietnam Association of Realtors (VARS), the real estate market in the second quarter of 2024 continued to record positive signs. The supply of primary housing reached about 27,335 products, with about 19,747 new products offered for sale.
VARS believes that in the context of the economy not yet out of difficulties, people's income is not stable, so we should be careful when the real estate market increases in price without basis, which can be a sign of virtual fever and bubble.
