The data presented is a compilation of reports from 48 out of 48 notary public organizations registered with the Department of Justice as of September 24, 2024. The Department of Justice respectfully submits this consolidated report to the Department of Construction.
The results indicate that, during the third quarter, two cities and ten districts in the province recorded 5,151 land plot transactions valued at nearly VND 4,908 billion. There were also 325 transactions of detached houses with a total value of nearly VND 1,356 billion and 17 apartment transactions with a total value of over VND 35 billion.
For land plot transactions, Da Lat City accounted for the highest value, with over VND 1,475 billion from 341 land plots. This was followed by Duc Trong district, with more than VND 947 billion from 958 plots. Lam Ha district had the highest number of land transactions, with 1,110 plots valued at nearly VND 704 billion, followed by Bao Lam district with 983 land transactions totaling almost VND 512 billion.
Detached house transactions occurred only in Da Lat City (164 houses, valued at over VND 1,176 billion), Bao Loc City (39 houses, over VND 51 billion), and Duc Trong district (121 houses, nearly VND 128 billion).
On the other hand, apartment transactions were exclusive to Da Lat City, with 17 units valued at more than VND 25 billion.
 Source: Compiled by the author from data provided by the Department of Justice of Lam Dong Province
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As a tourist city with a high population density, Da Lat’s real estate market has experienced robust growth recently, significantly impacting the macro-economy, growth, and social security development. It has also provided employment opportunities for locals. According to Da Lat City’s statistics from March of this year, the real estate sector accounts for approximately 20% of the total budget revenue, while the construction industry contributes about 18% to the economic structure, second only to tourism and services.
| Land plots (for residential use) refer to land used for constructing houses, including both land within and outside housing development projects. Detached houses refer to houses built by households or individuals, including those constructed by investors for sale in commercial housing projects. Apartments are units built by investors in commercial housing projects. Transaction values are based on the total values determined in the transaction contracts through notarization. |
Lam Dong Calls for Control Over Real Estate Price Fluctuations
In mid-September, the People’s Committee of Lam Dong Province issued a directive to enhance the management and control of real estate price fluctuations across the province.
In response to instances of speculation, hand-trading, and price manipulation by some real estate investors and brokers, which have caused market information disorder, the Ministry of Construction has requested provinces and cities to strengthen the management and control of real estate price fluctuations.
The People’s Committee directed the Departments of Justice, Construction, Natural Resources and Environment, and Finance, the Provincial Tax Department, and the People’s Committees of districts and the cities of Da Lat and Bao Loc to continue implementing diligently and effectively the directives of the Government and the Prime Minister, as well as the instructions of the Ministry of Construction, and to fulfill the tasks assigned by the Provincial People’s Committee.
The authorities are tasked with managing and controlling real estate price increases to ensure they align with the actual conditions of the respective areas within the province. This measure aims to prevent negative impacts on local real estate investment and business activities and guarantee housing for all citizens.
The Provincial People’s Committee assigned the Department of Construction to coordinate regularly with the Department of Natural Resources and Environment and the People’s Committees of districts and cities. They are to inspect, supervise, and implement measures to manage strictly the construction of houses by landowners in land-use-right trading projects with technical infrastructure. This is done to prevent instances of landowners leaving the land vacant, engaging in speculation, hand-trading, and price manipulation, which can cause market information disorder.
The province will enhance inspections and reviews of real estate business operations by enterprises, investors, real estate exchanges, and brokers. It will also monitor the buying and reselling of real estate through multiple hand-trading transactions, especially in areas, projects, and apartment complexes with abnormal price increases. Authorities will inspect and handle instances of price manipulation and illegal activities related to land, real estate business, and other relevant laws and regulations, reporting to the Provincial People’s Committee if the case exceeds their authority.
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