“Holding Land for a Decade, This Investor is Still Confident: ‘I’ll Wait Another 10 Years'”

In early 2015, Ms. B, a resident of District 7 in Ho Chi Minh City, purchased a plot of land measuring over 50 square meters in Thu Duc City (Ho Chi Minh City) for VND 400 million per plot. As she could not remember the exact location of the land, she recently had to ask the local authorities to inspect it and build a brick fence around it. The land is now valued at VND 3 billion per plot. However, when approached by a broker who had a potential buyer, Ms. B refused to sell and stated, “I will wait another 10 years before selling.”

It is known that this is not the only plot of land that Ms. B has held on to for an extended period. Several other plots of land that she purchased 4-7 years ago have also not been sold. The current prices of these plots of land have increased multiple times compared to when she first bought them. According to Ms. B, during periods of low liquidity in the real estate market, land prices may stagnate or decrease compared to the previous year. However, since she has held on to the land for a long time, these fluctuations do not affect her cash flow.

At present, she has no intention of selling as she believes that the longer she holds on to the land, the higher the price will rise. She shared, “If you don’t really need the money, continue to hold on to the land. Land is becoming scarcer, and prices will surely continue to increase.”

According to a survey, over the past 10 years, land prices in areas such as District 2, District 9, and Thu Duc District (now part of Thu Duc City, Ho Chi Minh City) have increased by 5 to 10 times, depending on the location. Among them, District 9, which has lower land prices compared to the other two areas, has recorded a rapid increase in land values.

Before the Lunar New Year, with VND 2.7 to 3 billion, buyers could find residential land in District 9. However, this has become more difficult. Land prices in this area have increased by 10-20% compared to the end of 2024.

Brokers are facing challenges in finding affordable land to resell, even though market demand remains high. According to brokers, many investors have held on to their land for 5-10 years and are reluctant to sell, even when persuaded. They believe that land prices will continue to rise, so they choose to hold on to their assets.

The Ho Chi Minh City land market is expected to experience a price increase towards the end of this year as more infrastructure projects are completed. However, a sharp price increase or localized feverish buying, as seen in the past, is unlikely to occur. Buyers are now more cautious and considerate in their choices. They also have more options in neighboring provinces due to improved transportation infrastructure.