According to a survey by the website Batdongsan.com.vn, the Da Nang land market is one of the few land markets in the Central region that have made strong price leaks in recent times.
A series of major boostes such as provincial mergers, infrastructure investment and development, tourism growth again and a series of projects launched have become growth drivers of Da Nang real estate in general, and the land segment in particular.
Notably, one of the typical hot spots of Da Nang land is the coastal axis stretching from Son Tra - My Khe - Ngu Hanh Son - Hoi An to Chu Lai.
For example, in Son Tra ward, many plots of land are about 200-300mm from My Khe sea, the land price has increased by about 20% compared to the end of last year. From an average of 70-75 million VND/m2 to 85-97 million VND/m2.
The land on the frontage of Vo Nguyen Giap Street, near the sea and near major projects being implemented, has an asking price of 220-260 million VND/m2, an increase of about 30% over the same period last year.
Land in An Hai ward, Nguyen Chinh street, over the past year, the price has increased from 80-85 million VND/m2 to 120-125 million VND/m2. Land prices on Nguyen Duc An Street also increased from 95-105 million VND/m2 to around 120-130 million VND/m2.
Meanwhile, land in Ngu Hanh Son ward, plots on the frontage of Che Lan Vien street also increased in price from over 90 million VND/m2 to 115-120 million VND/m2.
In addition to expensive locations, some land areas in Da Nang have also recorded price leaks. For example, land in Hoa Xuan has also increased in price from 42-44 million VND/m2 to 45-48 million VND/m2, some lots in good locations, the price reached 55-60 million VND/m2.
Located in Ngu Hanh Son ward, on Bat Tan Cong Chua street, near FPT area, the price increased from 32-36 million VND/m2 to 35-39 million VND/m2.
Land on Nguyen Thuc Duong Street, near Dong Hai resettlement area, has increased in price from 50-53 million VND/m2 to 53-56 million VND/m2. Similar increases occurred in Le Van Huoi, Hoa Hai, My An...
Many real estate experts believe that it is undeniable that the Da Nang land market is heating up thanks to synchronous investment in infrastructure, clear development orientation, explosive tourism and the psychology of hoarding assets of the people.
However, according to experts, during this heat wave, people must be even more alert to decisions to spend money to invest.
Investor Hoang Truong (residing in Lien Chieu ward, Da Nang) informed that following areas directly benefiting from infrastructure (Lien Chieu port, coastal roads, Hoa Xuan urban area) will help increase investment value.
In addition, Mr. Truong emphasized that investors need to have understanding and a comprehensive view of the Da Nang real estate market. Investors should only invest in areas with existing residents, formed infrastructure, and near major traffic routes. Plots of land in deserted areas without surrounding amenities are often difficult to resell and easily jammed with capital.
"Da Nang has experienced many land fevers, prices were pushed up and then quickly slowed down. Investors need to be wary of rumors and avoid buying according to crowd psychology. Analyzing the real value of the new plot of land is the key to deciding on successful investment" - Mr. Truong emphasized.
