Nghe An: 'Hot' land segment

"Investors" buy land in Yen Thanh district. Photo: Hai An

According to experts, the reason for the land fever is that the epidemic has not ended yet, greatly affecting production and business, causing difficulties for businesses, even losses. Meanwhile, there is still a lot of capital in the people, many investors and people have started to switch to real estate business, causing the market to gradually "heat up".

According to records in some areas in Yen Thanh district, land trading activities are quite active. Mr. Nguyen Van Trinh in Nam Thanh commune said: Never before have I seen so many people interested in the real estate market as today. Recently, on March 8, I bought a plot of land in Vien Thanh commune worth 1.5 billion VND, but on March 11, someone offered up to 1.7 billion VND. Along National Highway 48E in Son Thanh commune during Tet, the plots of land cost about 1.4 billion VND, but now the price has jumped to over 2 billion VND/plot (160 m²⁾.

Land auctions were equally exciting. Recently, Bac Thanh commune organized an auction of 22 lots, the lowest starting price was 1.9 billion VND, the highest was over 3.2 billion VND/lot, in the auction there were hundreds of applications. After the auction, the revenue was over 66 billion VND, the highest winning lot was 3.9 billion VND, after the auction, 100% of the people did not cancel their deposit.

The representative of the Yen Thanh District Finance Department added: Due to the effects of invested or prepared projects, the land segment is more "attractive". For example, Yen Thanh area is implementing projects: Bac Thanh Commune Leather Shoe Factory, Lien Thanh Commune Garment Factory, Yen Thanh Town Rice Export Processing Zone, areas with factories, land prices are all pushed up. In the first 3 months of 2022 alone, Yen Thanh district has collected 132 billion VND in land use rights fees, reaching 60.5% of the province's assigned estimate.

Customers "finalize" land in Dien Yen commune, Dien Chau district. Photo: Hai An

Next to Dien Chau district, land prices are also skyrocketing. According to some "land bosses" in this locality: Land in Dien My commune near the market, near the school... during Tet, the price is 1.7 billion VND/lot (100m²), currently priced at 2.1 billion VND/plot. A representative of the People's Committee of Dien My commune said: Since the Nam Thuan Garment Factory project was implemented in the area, the price of rural land has increased dramatically, and land located on the main road of the commune is priced from 3 - 3.5 billion VND/plot.

In Do Luong district, in early 2022, the district organized an auction of 90 land lots in Con Leu field, Do Luong town, with over 300 participating applications, the land price collected was 250 billion VND, the starting price was from 1.2 - 1.6 billion VND, after the auction, it was pushed up to 2.5 - 3.5 billion VND/lot.

In addition to the increase in auctioned land, land in projects has also increased. In Hai Van urban area, Dien Ngoc commune, Dien Chau, the price during Tet was 13 million VND/m2, now it has increased to 15-17 million VND/m2.², corner lots, business lots reach 20 million VND/m²...

Through research, it is shown that there are currently many investment groups "hunting" for land throughout the province. These investment groups are mainly composed of close friends, brothers, and relatives who contribute capital. The group's motto is to close the deal when there is a profit, and the investment goal is about 2-3 months, at the latest 1 year. At land auctions in Yen Thanh, Quynh Luu districts... we witnessed the land "hunting" groups in Dien Chau district having a very high winning rate. For example, in the land auction in Khanh Thanh commune, Yen Thanh district, there were over 30 plots of land, and this group won the auction for over 20 plots of land.

A member of this group shared: Before auctioning land, we go to the place to survey and grasp the situation to "determine the price", and often offer a higher price, so the winning rate is high. After winning the auction, we resell the land lots for profit.

Customers looking for land in Dien My commune, Dien Chau district. Photo: Hai An

Some other groups that specialize in "land hunting" are located in low-lying areas, prices have not fluctuated much, only about 2-3 million VND/m2.², but according to assessment, the potential is mainly in the mountainous districts of Nghia Dan, Anh Son, Thanh Chuong...

Mr. Nguyen The Phiet - Head of Housing and Market Management Departmentreal estate, Nghe An Department of Construction said: The "heated up" rural land auction market also caused real estate projects in Nghe An to increase in price. However, some auctioned lands were pushed up too high in price, while project land also increased but more slowly. The view of real estate project investors is to invest in a sustainable direction, so they increase prices slowly so that project land buyers also make a profit.

Customers buy land in Hai Van urban area project, Dien Ngoc commune, Dien Chau district. Photo: Hai An

According to Mr. Nguyen The Phiet, to control speculation and increase land prices, relevant sectors and local authorities need to inspect and review the conversion and division of plots, strictly manage real estate finance and credit; supervise real estate projects; at the same time, manage brokers to control real estate prices, not to continue the situation of "pushing" prices. Relevant sectors need to make transparent planning projects, progress of infrastructure development projects, and real estate projects to prevent the phenomenon of spreading rumors and speculation to push up prices.

According to real estate experts, at this time, people need to consider investing real capital and limit the use of credit loans to minimize risks./.

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