“Bank Liquidates Land in Vietnam’s Central Highlands: Over 1,400 sqm of Prime Real Estate Available for a Steal at Just 60 Million VND”

OCB, a prominent bank in Vietnam, is offering a range of land plots for sale in the Central Highlands provinces of Dak Lak and Dak Nong through its Unlock Dream Home platform. These land parcels are available at incredibly affordable prices, starting from just a few million VND to 400 million VND (approximately $16,900).

The land plots vary in size, ranging from over 1,000 square meters to more than 10,000 square meters. The majority of the plots are located in Dak Lak province, specifically in the districts of Krong Buk, Ea H’leo, Krong Nang, Ea Kar, Cu M’gar, and the town of Buon Ho. Additionally, there are attractive land investment opportunities in Dak Nong province, particularly in the district of Dak Mil.

Currently, the most affordable land plot is priced at 60 million VND, spanning 1,400 square meters. This particular plot, located in Ham Long village, Xuan Phu commune, Ea Kar district, Dak Lak province, is identified as plot number 20 on map number 37.

In terms of accessibility, this plot is approximately 600 meters from the main road, 12 kilometers from the Xuan Phu People’s Committee, and 4.5 kilometers from National Highway 29. Legally, this plot already has a land use right certificate (red book), and the transfer procedure fees are negotiable or to be borne by the buyer.

The most expensive land plot in this offering is priced at 400 million VND, covering an impressive area of over 10,000 square meters in Krong No district, Dak Nong province. Similar to the previous plot, this one also comes with a land use right certificate, and the transfer procedure fees are negotiable or to be borne by the buyer.

OCB has not disclosed the specific origins of these land plots.

It is worth noting that during the period of 2021-2022, Dak Lak and Dak Nong provinces experienced localized land fever. There were times when hundreds of people flocked daily to Cu Sue commune, Cu M’gar district, Dak Lak province, to engage in land transactions. As a result, the prices of agricultural land in the area skyrocketed to three to four times their original value within just a few months.

However, since the land fever cooled down in mid-2022, real estate prices in Dak Lak have plummeted. The real estate market is currently stagnant, and many trapped investors are forced to sell at a loss to recoup their capital.

According to the Department of Construction of Dak Lak province, in the second quarter of 2024, real estate transactions in the province increased compared to 2023. Specifically, there were 14,771 real estate transactions, mainly for land plots within existing residential areas. Despite this increase, the market remains subdued, leading to challenges in real estate liquidity.