For many weeks, Mr. Nguyen Van Tien (43 years old, living in Thanh Xuan district, Hanoi) has continuously advertised for sale a 3.6 billion VND plot of land in Soc Son district to recover business capital.
Mr. Tien said that he bought a plot of land for more than 3.6 billion VND in Soc Son district at the end of 2022. At that time, investment and infrastructure projects were being implemented vigorously, everyone said this was a "golden land" with great potential for price increases.
"I did not borrow from the bank but saved money to buy this plot of land to keep for a few years, with the expectation of a big profit. But for nearly 3 years, land prices here have stagnated, I am selling them for 3.6 billion VND to get money to do business" - Mr. Tien said.
Similarly, Ms. Pham Thi Linh (35 years old, living in Hanoi) also fell into a situation where her capital was buried with billions of dong when investing in "surfing" land in the suburban district.
Ms. Pham Thi Linh said that in June 2022, she and a group of friends invested in buying many plots of land in Hoa Lac high-tech park (Thach That district).
When investing with a selling price of nearly 40 million VND/m2, Ms. Linh believes that the projects being implemented along with the relocation of the University will increase the real estate segment, especially the land here.
However, up to now, these plots of land are still having difficulty finding buyers because of their high value, plots of land with about 1.5 - 2 billion VND often have better liquidity.
Many real estate experts believe that land prices in the suburbs of Hanoi have increased locally in recent years.
The value of the plots of land here is anchored high, causing investors to wait and observe the market before deciding to spend money.
Economic expert, Dr. Nguyen Minh Phong analyzed that this period has many potential risks, especially for new investors participating in the real estate market, who need to analyze and evaluate carefully to limit the risk of burying capital.
Many real estate experts believe that real estate prices not only depend on merger information but are also affected by many other factors such as infrastructure, location, job demand, immigration and local economic platforms.
Investors need to pay attention to risks such as the planning of each locality may change, so there may be a potential risk of buying land at a price higher than the real value, especially in areas with heating up and virtual fever.
At the meeting on May 15, Deputy Prime Minister Tran Hong Ha also pointed out many signs of instability in the real estate market. In particular, the worrying reality is that the real estate price increase rate in Vietnam is among the highest in the world, while people's access to housing is decreasing.
Deputy Prime Minister Tran Hong Ha also requested the Ministry of Construction to establish a national data system on housing supply and demand, "not allowing a lack of transparency and information to cause investors to speculate, inflate prices, and disrupt the market".
