Land prices in HCMC neighboring localities rise

By Vu Le August 8, 2022 | 11:26 pm PT

Land plots in southern province of Dong Nai. Photo by VnExpress/Quynh Tran

Land prices in provinces around HCMC soared to VND16-49 million ($684-2,095) a square meter.

The highest price of VND74.1 million was recorded in Dong Nai province.

The province’s average was also the highest at VND49.3 million, according to a report by property consultancy DKRA Vietnam. It was followed by Ba Ria - Vung Tau and Binh Duong at VND35 million and VND33.5 million.

During the period 4,904 new land plots came into the market, up 12.5% from last year, and 3,863 were sold, up 28%.

The two main suppliers were Long An (50%) and Binh Duong (24%), while in HCMC there was none.

Data of real estate portal Batdongsan.com confirmed the trend with land prices in southern provinces surging 7-23% higher.

But the number of searches for this property type fell slightly from 2021, as buyers tread more cautiously amid a highly volatile market, the website said.

Land plots will remain a safe-haven investment, said Tran Khanh Quang, director of property developer Viet An Hoa, as their average profit rate can reach up to 15% a year.