Warning of land speculation fueled by information about the VSIP 4 industrial park.

People are rushing to buy land.

For the past two days, the land auction area of ​​Rú Cụp - Nam Lĩnh in Đại Huệ commune, Nghệ An province, and some nearby communes has become unusually crowded and bustling as numerous cars from various localities have flocked there to buy land.

The village roads and the road leading to Dai Tue Pagoda were packed with cars of all sizes, with many vehicles crammed into the area around the village's cultural center.

Along with enticing offers, the prices of land plots in the auction area are skyrocketing compared to the winning bids, attracting people to buy.

In the vacant lots, groups of people gather to discuss, compare prices, and exchange information. The sight of people standing right in front of cars to write down deposits and conduct land transactions makes the area resemble a miniature market.

Posing as a potential land buyer, the reporter was greeted with enticing offers from several individuals claiming to be landowners. "This plot is 260 m², if we finalize the deal this afternoon, the price is 3.85 billion VND; if we delay, it will go up to 4.15 billion VND tomorrow." Another person, also claiming to be a landowner, said: "Plot number 27 is 252 m², I'll finalize the deal with you for a friendly price of 2.95 billion VND. This location would be perfect for building a guesthouse or dormitory for workers."

The promotional promises of quick profits and the high demand for housing and rental properties are creating a "fear of missing out" mentality among many people, especially small-scale investors and those lacking information.

According to information from the People's Committee of Dai Hue commune, the Ru Cup land auction area has a total of 55 plots, of which 54 were offered for auction, and 53 have been successfully auctioned. Each plot ranges in size from 248 m² to 309 m², with the lowest starting price being 911 million VND for the smallest plot. The auction was held on December 6, 2025.

Just over a month after the auction, land prices in this area have shown signs of being pushed up unusually high. For example, Lot No. 27, with an area of ​​252 m², which was successfully auctioned for 1.9 billion VND, is now being offered for sale at nearly 3 billion VND, or even higher. Thus, in just one month, the price has been inflated by more than 1 billion VND, an increase that is difficult to explain considering only the infrastructure and current land use.

This unusual hustle and bustle has also surprised and worried many long-time residents in the area. Ms. T., a resident living near the auctioned land, shared: “My family has lived here for decades, and I’ve never seen so many cars coming to view the land. Before, this area was a desolate wasteland, making a living difficult. Things haven’t improved much yet, but I see people making transactions worth billions of dong, and prices are skyrocketing.”

According to our findings, the main reason for the heated land market in this area is the information related to the consideration of a proposal to survey, research, and propose the VSIP 4 project in Van An, Dai Hue, and Kim Lien communes.

Speaking to reporters, the authorities of Dai Hue commune said that the commotion started on the morning of January 5th, concentrating most heavily at the Ru Cup auction area, with many vehicles pouring in from all over, posing a risk to traffic safety and affecting local order.

People need to be vigilant.

Amidst the ongoing land speculation frenzy in the communes of the former Nam Dan district, local authorities are advising residents to remain calm and cautious in the face of enticing advertisements from real estate brokers.

In particular, land transactions in recent days have been mostly in the form of "auction winning bids," "short-term trading," where the person who placed a deposit first sells to the person who placed a deposit later; buying and selling land based on diagrams, awaiting conversion, subdivision, etc.

These forms of speculative buying and selling pose potential legal risks when a winning bid for land or handwritten documents are resold multiple times without permission, as there is no land use certificate yet. Furthermore, repeatedly reselling land plots even when not officially owned carries significant risks.

Furthermore, buying land in areas under research or project proposals also carries risks related to planning, transfer restrictions, and land-use conversion restrictions. Without thorough research, people who buy land will suffer significant losses.

In particular, the authorities emphasized that when people need to conduct real estate transactions, they should go directly to the commune People's Committee or specialized agencies to check and verify legal information and planning, avoiding transactions based on rumors or unsubstantiated offers.

In reality, many past land price surges have left significant negative consequences, with prices being pushed too high compared to their real value, and later buyers facing many risks if the market reverses...

In particular, over the past month, a land fever has also occurred in the former communes of Nghi Phong, Nghi Xuan, and Nghi Thach following information that authorities were surveying the construction of a new provincial administrative center in the Vinh - Cua Lo road area. When authorities tightened regulations and restricted land use conversion and transfer in the area surveyed for the administrative center, the land fever began to subside...