Public land auction
Signs of manipulation and inflation of real estate prices by an interest group
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National Assembly Delegate Ta Van Ha said there were signs of manipulation and price inflation, creating a real estate bubble by an interest group.
The winning price of Hanoi land auction is many times higher than the starting price
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Recently, many land auctions in Hanoi have been successful with prices ten times higher than the starting price.
FOMO psychology seen from record high land auctions
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The FOMO mentality has made land auctions increasingly hot, pushing auction prices to record highs, many times higher than the starting price and higher than the market price.
Stop the trick of waiving deposits and inflating land prices through auctions
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Many brokers take advantage of the high auction prices to inflate land prices in neighboring areas. Meanwhile, those who successfully bid for land at high prices also continuously default on their deposits.
Difficulty in handling price inflation in land auctions
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Nghe An - The real estate market in the vicinity of Vinh City has recently been very active with auctions attracting thousands of participants.