Eager to buy rice fields to catch the "wave"
Having grasped the information that Ring Road 4 is under construction and passing through Hoai Duc area, Hanoi, over the past few months, Mr. Nguyen Van Quy (character's name has been changed) - Thanh Xuan, Hanoi has repeatedly contacted brokers to buy rice fields in this area.
"According to my investment experience, after the completion of Ring Road 4, this area will have a lot of potential for development, along with high real estate prices, so it is understandable to invest in the "wave" at this time.
Currently, agricultural land in this area is being offered for sale at quite cheap prices of only 3 - 5 million VND/m2, so I am also researching to buy. According to brokers, the land here is not subject to planning, and is convenient for transportation while not too far from the center, and there is a lot of construction around, so investing at this time is appropriate," said Mr. Quy.
With advice and commitment from the broker that just buying rice fields can build surrounding walls and gradually convert to residential land, Ms. Anh Tuyet (Ha Dong, Hanoi) is also studying investment in rice fields in Hoai Duc district near the construction area of Ring Road 4.
"My family was unable to invest in apartments or residential land, so I switched to investing in agricultural land. In Hoai Duc area, real estate prices are heating up every day, so the family is also looking to buy. The brokers they offer are very enthusiastic, committed to buying as much as they want to build walls, many buyers before them have also built temporary houses, booked containers to live in, so I am also planning to invest in this area," Ms. Tuyet shared.
Many potential risks
Regularly posting advertisements for selling agricultural land on many social networking platforms, broker Tran Thanh Tam has repeatedly committed to reporters (as an investor who wants to buy rice fields) to help build warehouses and temporary houses on rice fields after investing in Hoai Duc district.
"You can rest assured to buy your house, after buying it, we will support you to build fences or even build temporary warehouses and houses. A lot of people have built around this area.
The land here is located very conveniently, only in large urban areas, a few hundred and three kilometers away, next to Thang Long Avenue, behind which Ring Road 4 runs through, increasing prices is just too late. If you have a need to build, we can also support you to contact the job," broker Thanh Tam enthusiastically advertised.
Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club said that before having information about the new planning and policies, investors had calculations. Some buyers are speculating to wait for opportunities to increase agricultural land prices and benefit people. However, if the goal is not achieved, it will be wasteful and there is a high risk because from planning to implementation is a long process and the project planning may be suspended for many years, investors will certainly be "burned" capital. In addition, converting agricultural land to other uses is very difficult, even impossible, agricultural land speculation is more risky than profitable.
