After years of stagnant land transactions in Dĩ An, bordering Thủ Đức City in Ho Chi Minh City, the market is finally stirring. As Thủ Đức’s real estate market shows signs of revival, Dĩ An is also beginning to buzz. Currently, secondary land lots in existing residential areas are experiencing both price and transaction increases, with scarce new supply creating localized feverish demand. Many plots are quickly snapped up by buyers, even with brief listings.
Mr. T, a resident of Dĩ An in Bình Dương, shared his recent experience of trying to purchase land for building a house. However, by the time he inquired about a plot, it was already sold. On several occasions, he intended to view a plot he liked, only to find out that someone else had already put down a deposit. “I would inquire about the location, paperwork, and price in the morning,” he said, “but by noon, the broker would inform me that the land had been sold. I was quite surprised.”
Having lived in Dĩ An for a long time, Mr. T noted that the local land market had experienced multiple booms in the past. Currently, land prices are already high, with residential plots of 80-100 square meters fetching 3.5 to 4.5 billion VND. However, very few of these lots are available for sale in established neighborhoods.
At the beginning of 2024, many land plots were offered for sale in Dĩ An at prices ranging from 2.4 to 3 billion VND per 80-square-meter plot, but there were few transactions. Now, with the market heating up, demand has increased, and both buyers and investors are willing to pay higher prices, about 10% more than in late 2024.
Land fever shows signs of spreading to southern areas. Photo: TB
According to local brokers, buyer activity is picking up, but the supply of residential land in Dĩ An and Thuận An in Bình Dương is limited. In some areas, land prices are on par with those in Ho Chi Minh City. Compared to the same period last year, land prices in Bình Dương have increased by about 7-10%. Some investors who held onto their land purchases from early 2023 can now cash in on profits of nearly 20%. The improved market sentiment has resulted in active sales for brokers.
Batdongsan.com.vn representatives shared that following the news of the merger, real estate inquiries in the affected areas surged significantly. Specifically, interest in properties in Thuận An and Dĩ An in Bình Dương rose by 26% and 23%, respectively, compared to the previous year. This reflects investors’ keen attention to favorable planning developments.
Mr. Trung, a broker in Ho Chi Minh City’s eastern district, noted that there is strong interest in subdivided land plots. As soon as brokers list a plot, inquiries start pouring in. While transactions are not yet continuous for most plots, the rate at which buyers are committing to purchases has accelerated significantly compared to the previous phase. In District 9 of Ho Chi Minh City, Dĩ An in Bình Dương, and Nhơn Trạch in Đồng Nai, land plots priced between 1.8 and 3.5 billion VND are selling quickly. Many investors are seeking affordable options, but finding them is more challenging than a year ago. Sellers are now holding onto their properties, anticipating further price increases.
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