With the news that land prices in Ba Ria - Vung Tau will simultaneously increase from 2022, investors have taken advantage of buying goods to wait for the right time, causing the real estate market to heat up again.
Hot with information about land price increase from 2022
The Department of Natural Resources and Environment of Ba Ria - Vung Tau province has sent a report to the Provincial People's Committee on the construction and adjustment of the price list of all types of land every 5 years (2020 - 2024). The adjustment of the price list of these land types will be applied in the province from January 1, 2022 to December 31, 2024.
Accordingly, the Department of Natural Resources and Environment proposed to increase the price of agricultural land in urban areas and rural areas in the province; increase the price of residential land, land for production, business, trade and services. Through the comments of local departments and agencies, the People's Committee of Ba Ria - Vung Tau province has proposed the Department of Natural Resources and Environment to supplement and complete the draft report on the construction and adjustment of the land price list of all types. every 5 years (2020-2024) in the province, and submit it to the Appraisal Council.
Investors flock to Ba Ria - Vung Tau to hunt for land before land price adjustment information from 2022. Illustration
In recent years, market land prices in Ba Ria - Vung Tau have increased by 50-60% higher than the maximum land price list of the province. Therefore, with the Department's proposal to increase the price of agricultural land in urban and rural areas in the area, it is expected that land prices in this area will increase sharply from 2022. Many experts believe that the increase in land prices in this area will increase sharply. Land price according to the new price list will increase the price of compensation and change of land use purpose, leading to an increase in prices in real estate projects. In that context, quick investors will choose the time before the price increase to buy, in order to take profit when the new land price list is applied.
When information about land price adjustment in Ba Ria - Vung Tau was announced, the wave of real estate investors flocking here to hunt for land exploded strongly right during the epidemic period. The exciting purchase and sale has made many land notary offices in Ba Ria - Vung Tau province become bustling and crowded again. Many areas in the city. Ba Ria, Dat Do, Xuyen Moc, Phu My, Chau Duc... all recognized the need to carry out notarization procedures for buying and selling, submitting documents to busy names. Some places are even overloaded because the number of visitors to the notary is too large.
Ms. Ngo Thi Loc Nhung, Branch Manager of the Land Registration Office, TX. Phu My said that from October 16 to now, the office receives and processes 80-100 land transfer documents from people every day on average. That's not to mention there are many new transfer transactions receiving deposit or notarization, documents have not yet arrived at the one-stop office. This figure shows that the real estate market is active again after the epidemic. Ms. Nhung predicts that the number of applications will double in the near future.
Investors take advantage of "collecting goods" to take advantage of opportunities
According to research from Batdongsan.com.vn, from the end of September until now, in Ba Ria - Vung Tau, many groups of investors have come to "collect goods". On the roads in Phu My town, Ho Tram, Dat Do district, Chau Duc, there were many cars with license plates from Ho Chi Minh City, Dong Nai and Binh Duong to see the land. On real estate buying and selling sites in Ba Ria - Vung Tau, many investors are simultaneously pushing "goods" on the floor for sale, the amount of interest in buying real estate here has also increased sharply. Especially, Dat Do district area is the focus of hunting for cheap land plots in Ba Ria - Vung Tau market recently.
Mr. T.T. Chien, a real estate broker in Dat Do district, said that in the past 2 weeks, the flow of people also flocking to this area to learn about land has increased dramatically. The main purpose is to find plots of land with selling prices ranging from 10-15 million VND/m2. This is a price range that is suitable for the general finances of many people, so it attracts both small investors and professional investors who hunt for large land funds. Due to the land hunting wave, the real estate price of Dat Do district recently also tended to give a strong donation, nearly 15-20% compared to the same period in 2020.
Ba Ria - Vung Tau is the market with the most exciting land transactions in the southern satellite provinces in recent months. Illustration
According to Mr. Chien, although the demand is high, the trading activity is vibrant and somewhat hot, but from the experience of previous years, investors flocking to this market tend to buy at the projects. The project is well planned, legal is stable instead of searching for floating goods. Most of the projects that are being offered for sale successfully and have good purchasing power here meet the demand for legal criteria and have long-term potential.
Specifically, the Gia An Lakeside project is being implemented on provincial road DT 765, Dat Do district. This project owns a position of 3 fronts, surrounded by many industrial parks, the selling price is from 10 million VND/m2, so even though it is just "in the early stages" of the information offered to the market, it has attracted attention. ideas for investors. In the same area, plots of land in the residential project Phuoc Hoi - Ho Tram ... are for sale at a price of 1.68 billion VND are becoming "hot" goods. This residential area is located right in front of the coastal area of Loc An - Ho Tram, which is highly appreciated by many industry experts for its development potential. It is expected that phase 1 of this project will provide 139 products to the market, including townhouses, shophouses and villas.
And in the city. In Ba Ria, An Son Residence is located between two fronts of Street 13 and Nguyen Cong Tru Street, which is also being sought after by many investors. Although located in the city center. Ba Ria, but An Son Residence only costs from 9-12.5 million VND/m2, ie 1.2-1.5 billion VND/lot. In the context that the market is scarce for products with clear and transparent legality, An Son Residence is receiving the attention of real estate investors.
According to experts, in addition to the impact of the new land price list, the fact that the market has been compressed for too long also makes investors frustrated and have money but can't find a place to invest. This explains the "fever" of going to see the land massively after many localities were eased the distance. In this context, experts predict, if the epidemic does not break out strongly again, the market of Ba Ria - Vung Tau will be active from now until the Lunar New Year, at least until April 2022. This local real estate market will continue to have a price "fever" in early 2022, when the new land price list is officially applied.
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