On October 13th, the Danang People’s Committee Office announced that the city’s Chairman has issued a directive to inspect, review, rectify, and address price manipulation and real estate speculation. The directive also emphasizes strengthening land management and utilization across the city.
Real estate prices in central Danang have surged in recent times.
Accordingly, the Chairman of the Danang People’s Committee has tasked the Department of Agriculture and Environment with leading the effort, in collaboration with the Department of Construction, Land Fund Development Center, People’s Committees of wards and communes, and relevant agencies. Their mission is to inspect, audit, and review all specific land valuation activities, the development and issuance of land price tables, compensation and resettlement processes for land reclamation, and land use rights auctions.
These inspections aim to promptly prevent, rectify, and severely penalize legal violations, particularly those exploiting land use rights auctions to manipulate prices for personal gain. Such actions destabilize and distort the real estate market.
The Danang People’s Committee requires all units to compile and submit reports on inspection, audit, and review outcomes, including violation handling details. Reports should also highlight challenges, obstacles, and policy implementation issues. These reports will be forwarded to the Ministry of Agriculture and Environment for consolidation and submission to the Prime Minister for further guidance.
Currently, Danang is experiencing signs of a land price surge in suburban areas and new project zones, especially where planning adjustments, administrative reorganizations, or major infrastructure projects are underway.
For instance, in Ngu Hanh Son district and the former Hoa Vang district, there has been a sharp increase in land transfer applications, land use right certificates, inheritance, and gift deeds. At times, residents have lined up from early morning to submit land-related documents.
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