Awareness of local soil fever in Can Tho

Awareness of local soil fever in Can Tho

Increasing land prices every day made many investors willing to mortgage assets, borrow banks to surf.

Noting the early days of 2019, especially from the end of February to the beginning of March, the local land fever was strong in some good infrastructure projects and locations of Can Tho City. In particular, these are projects that have "red books" really to convince customers to buy. Land prices are called by investors and landowners to raise prices by 50 to 100 million dong a day.

Land prices skyrocketed

Representing the group of projects to increase the price of this occasion is Nam Long - Hong Phat residential area project in Nam Can Tho urban area. Mr. Nguyen Van Minh, a resident of Vinh Long, in November 2016 bought a land area of ​​5.7 x 14 m at this project for VND 1.6 billion. Only a month later, this ground has increased to 1.9 billion. Thinking that the price was big, Minh sold it immediately. Any doubt at the beginning of March this year, the price of trading a similar background was VND 2.4 billion. "Stunned" even more, just in the day we surveyed, in the afternoon, the price had added 50 million dong. Remember the time of September 2017, Nam Long - Hong Phat sold a land like this for only 550 million dong.

In addition to the above project, the projects with strong price increases also include resettlement area of ​​Tay Do Cultural Center, Hong Phat residential project, Hung Phu 1 residential project ... Land plot price with book Red here increases at 100% -150% depending on location.

Recorded in more remote areas shows that the ground in Phu An residential area is 5 x 24 m, ranging from 1.8 to 2.5 billion VND / background; Thien Loc project with an area of ​​5 x 20 m is also about 1-1.3 billion VND / background; Hong Loan residential area of ​​5 x 16 m type is priced from 1.3 to 1.7 billion VND. These projects also increased in price compared to the previous time but not at the shocking level due to the location quite far from the city center.

From the end of 2017 until now, the real estate market in Can Tho has developed strongly, active transactions, especially land in the residential areas with good prospects, with red books. House and land transactions in the city area are best appreciated by business people since the world economic crisis in 2008.

Be cautious about fake goods

Mr. Nguyen Minh Tri, Director of Tin Phat Construction, Real Estate Trading Co., Ltd., explains about the need for poetic land: "Because there is no new project, the old project ground land has run out of goods, scarcity and trade. sell round. Some investors have money to collect the foundation, then increase the price in installments in a ladder. The land price in the urban areas of South Can Tho is now quite high compared to a year ago.

Meanwhile, Mr. Le Huynh Hoang Minh, Deputy Director of Mekong Land Real Estate Trading Floor, said that in the past two years, when the market grew well, many investors were ready to mortgage assets and bank loans. to buy surf land to make a profit. Some people with idle money also join the game by buying old houses to upgrade, repair and sell for profit. These factors have caused land prices to rise rapidly.

Regarding the situation of lending to the real estate sector, Mr. Tran Quoc Ha, Director of the State Bank of Vietnam - Can Tho Branch, said: “For good projects, commercial banks still accept loans. unlimited. However, in 2019 the bank will be more cautious when appraising loans for projects to ensure the success of the project ”.

According to the State Bank of Can Tho Branch, by the end of 2018, the outstanding loans for the real estate sector in the province reached nearly 7,000 billion VND, accounting for nearly 9% of the total outstanding loans and increased nearly 30% compared to the end of 2017. This credit growth is considered quite high compared to previous years.

Along with that, the business of this product also has a very optimistic view, trusting the real estate market in Can Tho still has plenty of room for development. However, they also frankly acknowledge that they will need more new projects from big investors to solve the housing needs of the people. With the current trend, the price increase in shock will make it difficult for people who need to buy to live.

Another note is to be cautious about the situation of speculators taking advantage of fever to collect goods, creating a phenomenon of artificial scarcity to enjoy the difference, manipulating the market of houses and land.

Duy Tan