Land auction fever is one of the stories that has attracted the attention of those interested in the real estate market recently.
An easily seen phenomenon is that after the "hot" auctions, the brokerage team immediately flocks to the neighboring areas, setting up tents to consult and sell land.
Like in Thanh Oai (Hanoi), after the shocking auction ended at the end of August, a series of makeshift kiosks were set up by real estate companies along the neighboring roads.
Many plots of land that were just auctioned at 6-8 times the starting price were quickly put on the sale list, with a price difference of 300-500 million VND.
Brokers receive dozens of clients every day. The prices of plots of land considered prime, with potential for double profits, are "inflated" to the sky.
Or in Long Khuc area, Tien Yen commune, Hoai Duc district (Hanoi), the auction near the end of August shocked many people when the price of a winning land lot was 133 million VND/m2.
After the auction in Tien Yen commune, it was not difficult for investors to see new real estate brokerage offices springing up.
Billboards of these businesses are everywhere in all sizes, stretching from one end to the other in Long Khuc area.
In addition to auctioned land, these brokers are willing to introduce to customers many other real estate products around Hoai Duc district, including residential houses/land, service land, and garden land.
According to Lao Dong reporters, in a small alley on Tien Yen street, although the alley is only 2 meters wide, the house price has reached 60 million VND/m2.
“If you have money, buying land here for living or investment is good. The infrastructure is well planned, close to major roads and especially near Ring Road 4. Prices in this area are increasing compared to the general level in the area” – broker Bui Van Dang (38 years old) said.
Meanwhile, when talking to households in Tien Yen commune, many people also expressed their dismay at the sky-high real estate prices in their hometown. Not only that, they are also confused because land prices vary from place to place and fluctuate constantly.
It is normal for brokers to flock to areas that are attracting attention and it is not possible to assume that all of them have bad intentions. However, according to observers, there are many professional brokers and speculators who are looking for auction areas with the aim of increasing land prices in the surrounding areas, causing disturbances and even chaos in the general market.
Among these, many new brokers consider real estate brokerage as a side job. And with the mentality of "earning any extra money, earn it", they only care about how to make successful transactions to get commissions.
Therefore, this is a factor that causes market information disturbance and real estate value increases with reason.
Real estate expert Nguyen The Diep - Vice President of Hanoi Real Estate Club - said that it is not uncommon for brokers to use tricks to claim that the real estate market has warmed up to create "virtual waves".
According to Mr. Diep, to get better advice, customers and investors need to find reputable offices and brokerage centers that have affirmed their brands. In particular, investors need to research carefully and be wary of areas where "land brokers" set up tents, such as areas near auction land.
