A recent land lot sale in Thu Duc City, Ho Chi Minh City, was advertised at VND 2.35 billion per lot. Just a few days later, the broker posted that it had been sold. However, about a week later, the same lot was back on the market at a higher price of VND 2.5 billion. This indicates that property flipping is taking place, with brokers or investors buying desirable lots at low prices and quickly reselling them at higher prices.
A similar scenario played out in August 2024 when a land lot in the same area was advertised for VND 2.3 billion per lot and quickly found a buyer. By early September 2024, the broker was reselling the lot at VND 2.8 billion, and it remains on the market.
Notably, there have been instances of distressed sales in the southern land market due to investorsโ inability to secure funds for deposits. A recent example is a 52-square-meter lot in Long Phuoc Ward, District 9, advertised for sale by the owner, who needed to transfer the deposit urgently due to financial constraints. This investor had intended to flip the deposit but failed to do so and, facing impending notarization, was forced to sell.
Brokers and investors buying properties to flip deposits have re-emerged in the outskirts of Ho Chi Minh City. Some lots or houses are purchased at prices 20-30% lower than the market value and then resold at a premium within a short period. However, those who cannot leverage their finances or quickly generate cash flow end up holding onto these properties.
The Metro Township and Villa Market in Ho Chi Minh City: Dong Nai Takes the Lead in Supply, with Transactions Focusing on Properties Priced Below VND 10 Billion per Unit.
In DKRA Groupโs Q2 2024 report and recent updates, we uncover the latest trends in the suburban house and villa market, just outside Ho Chi Minh City.
โThe $5 Billion Mega Portโ โ Unlocking the Gateway to Ho Chi Minh City: A Project of Epic Proportions
Recently, the Government Office issued Notification No. 418/TB-VPCP, dated September 13, 2024, regarding the conclusion of Deputy Prime Minister Tran Hong Ha at the meeting on the Investment Policy Dossier for the Saigon Gateway International Transshipment Port Project (officially named the Can Gio International Transshipment Port in the master plan).
The Cement Companyโs New Toll Road Project
The Ha Tien Cement Joint Stock Company has announced road usage charges to recoup investment in the build-operate-transfer (BOT) project for the road connecting Nguyen Duy Trinh Street to Phu Huu Industrial Park in Thu Duc City, Ho Chi Minh City. The project is slated to begin toll collection from September 17 onwards.
The Ultimate Mid-Autumn Treat: Indulge in Our Exquisite Mooncakes, Priced at Almost 300,000 VND Each, But Buy One and Getโฆ 3 for Free!
With an array of enticing promotions such as โbuy one, get three or fourโ and competitive pricing, mooncake sellers at markets and sidewalks in Ho Chi Minh City are pulling out all the stops to attract customers. Despite their efforts, many of these businesses are still struggling with low sales and empty stalls.
