On December 30, in an exchange with a reporter from Lao Dong Newspaper, Mr. Nguyen Quoc Khanh - Chairman of the Nghe An Real Estate Association said that from the beginning of 2025 to now, the real estate price level in Nghe An has increased in both urban, suburban and rural areas.
In the Nghi Phong area (Vinh Loc ward), after the Nghe An Provincial People's Committee announced the planning of the Provincial Administrative Center Project, land prices increased sharply, and transactions took place very actively" - Mr. Khanh said.
Real estate broker Tran Van Quang (Vinh Hung ward, Nghe An) said that land prices in Nghi Phong area, Vinh Loc ward have increased abnormally for nearly a month now. “Land prices in some places doubled in just one week. A plot of about 100m2 was just traded for 1.3 billion VND, after a week it increased to 2.5 billion VND. Land brokers are operating continuously, many people have big wins” - Mr. Quang said.
According to the reporter's investigation, anticipating the planning information of the Provincial Administrative Center, many households in Nghi Phong, Vinh Loc ward have carried out procedures to divide plots, divide plots, and subdivide areas for sale.
For example, a household has about 1,000m2 of residential land and garden land, they divide it into 10 plots, pay full financial obligations and then open an internal road along the land area. Then they advertise for sale and trade continuously, the price is pushed up to about 3 billion VND per plot" - Mr. Nguyen Van Tuan (Vinh Loc ward) said.
Mr. Nguyen Huy Hoang - Chairman of Vinh Loc Ward People's Committee - confirmed that the real estate transaction situation in the old Nghi Phong area is taking place bustlingly. “Currently, land plot separation, subdivision, and land transfer procedures are not carried out through the ward, so we do not have specific records. From the perspective of state management, we advise people to be cautious when transacting, avoiding buying land at too high prices leading to financial risks and debts” - Mr. Hoang said.
Chairman of Nghe An Real Estate Association Nguyen Quoc Khanh also advised people and investors to be careful, avoid legal risks, disputes, or buy land plots located in the planned area.
If you buy land at too high a price and then it is recovered according to the plan, the compensation level may be much lower than the initial amount spent," Mr. Khanh warned.
