According to the data from Batdongsan.com.vn, over the past 9 years (2015-2023), investing in land has had a profit rate of 166%. This figure is lower than stocks (203%), gold (195%), and apartments (203%). However, the land segment still has a higher profit rate than some other investment channels, such as savings accounts (138%) and foreign currency (111%).
The Consumer Sentiment in Real Estate (CSS) index from Batdongsan.com.vn for the first half of 2024 shows that out of 1,000 surveyed people, 65% said they would continue to buy real estate in 2024. Among this 65%, about one-third of people are interested in land.
The product with a price range below VND 2 billion per plot attracts the highest level of interest, accounting for 42% of the total; the price range of VND 2 – 4 billion ranks second with 24% interest; the price range of 4 – 6 billion accounts for 10%. The remaining two price ranges of 6 – 10 billion and over 15 billion have interest levels of 9% and 15%, respectively.
Mr. Le Bao Long, the Strategy Director of Batdongsan.com.vn, said that due to the “land is gold” mentality, the demand for owning land and property accumulation of the Vietnamese people is very high. Therefore, it is not surprising that land receives the most attention from consumers in 2024.
Land and project land in two markets – Hanoi and Ho Chi Minh City – receive more attention than apartments.
However, the company forecasts that the new land market will only recover its demand from Q2/2024. This segment will not have a feverish situation as before. Transactions will mainly appear in certain areas and have not spread widely. It will not be until 2025 and beyond that the new land market enters a price increase cycle.
Meanwhile, according to the data from Batdongsan.com.vn in January 2024, the search volume for land in Hanoi increased by 110% and project land increased by 77% compared to the same period last year. Meanwhile, the search volume for apartments in Hanoi increased by 71%. Similarly, in Ho Chi Minh City, the search demand increased from 71 – 73% for land, project land and only increased by 59% for apartments.
According to Mr. Dinh Minh Tuan, the Director of Batdongsan.com.vn in the South, a survey of more than 10 brokerage investment companies in land in Dong Nai, Binh Duong, and Long An shows that the number of land transactions has increased. Among them, most transactions concentrate on plots with standardized legal papers, prices below VND 2 billion, within a radius of 60 km around Ho Chi Minh City.
