The emerging property market in the southern province of Dong Nai is recording busy trade in the land plot segment during the first months of this year while the market in HCMC remains quiet.
According to market research by Vinaland Co., land plots in property projects in An Khanh, Binh Trung Dong and Thanh My Loi wards in HCMC’s District 2 have increased slightly this month despite fewer trades.
Land plots in the new urban area An Phu – An Khanh are from VND31 million to VND44.5 million per square meter and plots in projects in Thanh My Loi Ward are from VND20 million to VND40.5 million per square meter. These prices are up by a slight VND100,000 to VND200,000 per square meter.
Nguyen Xuan Loc, deputy director of Vinaland, told the Daily on Tuesday that although the market was in positive trend, the land segment had not seen much improvement in trading compared to late last year.
Most customers who come to property trading floors on Tran Nao Street in the district for information are in real need of property for accommodation. Meanwhile, individual investors have not come back to the segment.
Some experts reckon that what have made investors feel conservative are high prices and narrowed profit margins.
Unlike HCMC, the property market in Dong Nai Province is starting to boom as some major provincial real estate companies have started to launch ten property projects. Land plots for row-houses, villas and mid- and high-end apartments are being offered by these companies.
Nguyen Thi Thanh Huong, director of Tinnghia Land, said the province had seen positive feedback in the market as many investors were eyeing lots for row-houses and villas with demand exceeding supply.
For example, the Thong Nhat Market and Residential Quarter project located at the T-junction Dau Giay in Dong Nai Province’s Thong Nhat District, some 70 kilometers from HCMC, has joined the market with 100 plots for terraced houses with prices starting from VND3 million to VND5 million per square meter. Deposits have been made for all of the plots and the company plans to kick off the second sales program for the remaining 217 plots this weekend.
In another project, over 90% of the 167 plots of the Nhat Tuong project in Dong Nai’s Long Thanh District have been sold.
Like other property experts, Huong of Tinnghia Land attributed the positive feedback from the provincial property market to suitable prices from VND300 million to VND500 million per property product. The amount is seen as affordable for potential homebuyers.
Huong said the company would launch 200 plots of the Phu Tin project and 300 more for row-houses and villas next quarter to meet the rising demand.
