Da Nang: Land prices jumped, the market went crazy

Da Nang: Land prices jumped, the market went crazy

Less than 2 weeks after the Da Nang city government announced the new land price tariff applied in the area, the local real estate market had disturbed reactions to the point of being unable to control it.

A series of houses in Da Nang are rapidly increasing in price after doubling the new land price.

Mr. Dinh Tung, a clue who introduced the land of Tran Cao Van area (Thanh Khe, Da Nang) complained to CafeLand, within just one week, Da Nang land has been "jumping prices" 2 times continuously. The current difference in land plots, small houses in alleys in Thanh Khe area ranges from 100 - 250 million / lot of 100m2.

“There was a lot of land before the price of VND 1.3 billion. Unusual prices like this, brokers do not dare to admit it. ”. Tung laments.

Representing a land transaction floor in Thanh Khe area, the main activity in the East of Da Nang airport admitted, the information of rising land prices from authorities has immediately adversely affected the entire market here. Da Nang land is rapidly skyrocketing 20-50% cannot be controlled. Even many exchanges almost closed trading books ... by the hour.

House prices

Many retail investors are stunned when looking at the current land price practices of the Da Nang market. Their question is, why is it that in such a short time the land of this city was so volatile. Even those areas that are considered "re-zoned", projects that will be verified to verify virtual prices, are also rising in price.

The strongest fluctuations are still in Hoa Xuan (Cam Le) and Northwest (Lien Chieu), many locations have increased by 200% in just a few days. Projects located in areas with other positive investment information, such as around Lien Chieu port, University Village area (Ngu Hanh Son), can be said that business people push prices, but almost at Anyway ... reasonable!

Many individuals and families in Da Nang who want to buy land to live show obvious frustration, when asked which floor, the broker always hears very cold feedback, that prices are rising and must be purchased immediately. Only that price. Even though the numbers have greatly increased compared to before the Lunar New Year, the majority of brokers are still very confident to affirm that prices will still increase.

Market turmoil ...

A corollary is almost instantaneous from the changes in land prices, which are the rental prices of offices and inns in the area and in the past month, almost doubled. On social networks, many students and students started to download information to find a cheaper accommodation, because the landlords all increased their prices ... the city had new land prices. "Here we are in Hoa Khanh area, the price of renting 1 room for rent 3 has been from 3 million to 5 million, and the money for water and electricity, how can we stand it?" A Da Nang Polytechnic student turned on coal.

Da Nang is really into a land fever that is difficult to control.

Even some business owners are pitying to see, land price movements upset all their plans, when the landlord gives them an extra money, otherwise go elsewhere. "The price of vermicelli, Quang noodles, soup cakes ... of every shop are on the rise, from 15,000 to 20, 25 thousand is normal, because the rent increases. The rapid increase in housing has made people no longer think of any commitment or affection. ” Ms. D., the owner of a bakery shop in Ha Huy Tap street (Thanh Khe) complained like that, when explaining how to sell soup and bread, she increased the price.

Based on where and why the city of Da Nang has a move to announce such a dramatic increase in land prices, almost all real estate businesses are confused. But the reality of both Danang is scurrying with rising land prices, making all activities of people and tourists fluctuate according to, no one can deny. "All are rising rapidly, and only the real estate business is shabby." A business remarked bitterly, and he said that because the rental office price has increased, he will stop his business, starting February 28, 2019.

Da Nang is in a bad situation because of the earthquake, this situation, whether the local authorities have a feasible solution to regulate it?

Nguyen Duc