Is the Big Wave Coming? A Quiet Stir in Danang’s Land Market as ‘Big Players’ Make Their Move.

The Da Nang real estate market was once the focal point of attention across Vietnam during the 2018-2019 period. This was a time of frenzied land speculation, which pushed property values to new heights. During this period, investors from all over the country flocked to Da Nang, particularly to areas in the northwest (the former Lien Chieu district), Nam Hoa Xuan (in the former Cam Le district), and Ngu Hanh Son, known for their picturesque rivers, stunning beaches, and vast tourism potential.

According to Mr. Tran Lap, a local investor, in April 2014, a plot of land on Nguyen Tri Phuong Street was priced at VND 340 million. By 2019, the price of this plot had skyrocketed to VND 3.5 billion, a tenfold increase in just six years. Meanwhile, another plot on Vo Nguyen Giap Street, which sold for VND 19.5 million per square meter in 2010, reached an astonishing VND 400 million per square meter in 2018.

However, after this heated period, the Da Nang real estate market entered a state of hibernation. From 2020 onwards, the impact of the COVID-19 pandemic, coupled with the already inflated land prices, led to a significant decline in liquidity. Many investors who had bought land at the peak of the frenzy were forced to sell at a loss, but even with price cuts of several hundred million dong per plot, there were no takers. For five years following the Covid-19 pandemic, Da Nang’s land market remained stagnant, forming a price trough while major markets like Hanoi, Ho Chi Minh City, and Nha Trang continued to surge.

However, after a prolonged lull, the Da Nang land market suddenly sprang back to life at the beginning of 2025, spurred by a wave of mergers and acquisitions across the country. Like a magnet, the “trough” of Da Nang’s land market attracted major investors. This renewed interest was further fueled by the tourism boom, two mega-planning projects, and the proposed merger of Quang Nam and Da Nang. Mr. Nguyen Viet, a long-time investor from Hanoi, shared that he had already purchased two land plots worth VND 5 billion at the beginning of the year and was looking to acquire more.

According to Mr. Viet, compared to the beginning of 2024, land prices in Da Nang have increased by 10-30% since the end of 2024 but remain lower than five years ago, especially when compared to Hanoi and Ho Chi Minh City. The investor, who is originally from Hanoi, also revealed that he is focusing his attention on Hoa Vang, Ngu Hanh Son, and Cam Le, areas that previously experienced land fever and where many investors who bought at the peak are now forced to sell at a loss.

Surveys indicate a growing number of investors and genuine homebuyers returning to the Da Nang real estate market. This is evident from the increased foot traffic at the one-door unit in the former Cam Le district since the 2025 Lunar New Year, compared to the end of 2024.

Lately, a slew of investors have also been flocking back to the southeastern part of the city, particularly to areas like Hoa Xuan and Hoa Quy (now part of Ngu Hanh Son ward), thanks to their well-developed infrastructure, clear legal status, and convenient location (just a 10-minute drive from the city center).

Eco-urban areas along the river, such as the Hoa Xuan New Urban Area, boast meticulous planning that includes parks, schools, and hospitals. The area’s prominent investor has also announced plans to enhance the landscape and illuminate the bridges connecting Hoa Xuan to the city center, creating a corridor of aesthetic and lighting excellence. In tandem, the city is revitalizing the Han River landscape with a VND 400 billion project called “Glow River.” These positive developments have attracted investors from Hanoi and Ho Chi Minh City, who are eager to seize opportunities in these areas, especially for plots with readily available red books (land-use rights certificates).

The new land price list issued by Da Nang, with significantly increased prices, has raised the hopes of investors holding multiple properties in the area. Experts predict that the market could experience a surge, driving up prices rapidly.

According to the new land price list, which took effect on January 1, 2025, the highest land price on Bach Dang Street is in the section from Le Duẩn to Nguyen Van Linh, reaching VND 286 million per square meter. The remaining sections of Bach Dang Street also command high land prices, ranging from VND 148 to 266 million per square meter. Other streets with high land prices include Le Duẩn, where the section from Tran Phu to Hoang Hoa Tham is priced at VND 158 million per square meter. On Nguyen Van Linh Street, the segment from Phan Thanh to Bach Dang is VND 177 million per square meter.

Vo Nguyen Giap Street has prices ranging from VND 83 to 187 million per square meter, with the highest price found between Vo Van Kiet and Pham Van Dong Streets. Vo Van Kiet Street boasts a price of nearly VND 168 million per square meter. Pham Van Dong Street has a price of over VND 138 million per square meter. The iconic 2-9 Street has prices ranging from VND 51 to 128 million per square meter, with the highest price found between the Cham Museum and Phan Thanh Tai. The lowest land prices are in the residential areas belonging to the communes of Hoa Vang district… In contrast, the new price level in planned urban areas like Hoa Xuan is only one-third of these prices.

In summary, the Da Nang land market in 2025 presents both significant opportunities for discerning investors and potential risks for the unwary. Experts advise investors to prioritize properties with clear legal status, prime locations, and reputable developers while also staying ahead of infrastructure trends to optimize profits. With Da Nang’s vision to become an international financial center and Vietnam’s first free trade hub, investors should focus on central or near-central land plots, expecting returns within 3-5 years. Projects by reputable developers offer better quality and liquidity assurances.