Talking to Lao Dong, Ms. Nguyen Thi Cham (who is selling a plot of land in Thach That district, Hanoi) informed that at the end of 2019, her family decided to buy a plot of land in Thach Hoa commune for nearly 3 billion VND, with the purpose of waiting for the price to increase over time to make a profit.
Ms. Cham added that when she decided to buy a piece of land in Thach That district, she had high expectations of making a big profit after a few years. But until now, the National University and FPT University projects have only transferred a part of their students to study, and the surrounding facilities are still poor, making the land segment here less attractive than expected.
"The purchase was finalized 5 years ago, but my family is now posting an advertisement to sell a plot of land in Thach Hoa commune to catch the investment wave in early 2019. If the buyer is willing, we will reduce the price and take care of all the costs of transferring the land title," said Ms. Cham.
Similarly, Mr. Truong Van Nam (a land investor in Hanoi) said that in early 2020, due to having idle money, he invested in land in My Duc district. However, after that, the real estate market continuously fell into a state of stagnation, causing many investors like him to suffer.
Mr. Nam said that although he had advertised the land at the original price and consigned it to many brokers with the hope of selling it soon, he still could not close the sale of the 1.5 billion VND land plot in My Duc district.
PropertyGuru Vietnam's Q3/2024 real estate market data shows that the land market is showing significant improvements in terms of interest and transactions. However, this is still only a local improvement in some areas, especially the northern provinces.
Dr. Tran Xuan Luong - real estate major (National Economics University) - said that the real estate market is in the recovery phase, many customers participating in the market should not have a speculative mentality but should invest with a long-term vision. In addition, they should not use financial leverage, avoid investing according to the crowd effect.
Experts say that before deciding to spend money, you should evaluate your needs, choose a product that is truly suitable for your financial ability, and focus on added value instead of price increase. Customers' change in investment thinking is a factor that creates a change in the real estate market in a healthier and more positive direction in the future.
Mr. Le Dinh Chung - a member of the Market Working Group of the Vietnam Association of Realtors (VARS) - commented that it is not until the second quarter of 2025 that the land market will see clear positivity in many places. However, investing in land at this time needs to determine a medium-term capital recovery of at least 1-3 years, instead of surfing.
If you want to invest in land at this time, investors should look for areas and localities with synchronous infrastructure, good economic development but land prices have not increased too much in recent times.
