Real estate speculators have been exploiting urban expansion plans to push up prices beyond the real value, according to the Ministry of Construction (MOC). Reviewing the 2020 real estate market, MOC said the prices of separate houses and land continued the upward trend from 2019. However, the increases varied in different localities and areas in the same localities. The average price increase in provinces, cities and districts was just 3-5 percent. However, some market analysis units reported sharp price increases in some projects. In Hanoi, a series of projects in the last 10 years in the western part, including Ha Do Charm Villas (An Thuong, Hoai Duc), and An Lac Symphony (Van Canh, Hoai Duc), have resumed sales with prices 2-3 times higher than prices in previous sale campaigns and the secondary market. Market analysis firms report that land in Son Tay, Hoa Lac, Thach That and Hoai Duc is priced at VND25-30 million per square meter, up by 50 percent from 2019. Meanwhile, the areas of Dong Anh, Gia Lam and Long Bien have seen prices increase by 20-30 percent. In HCM City, according to MOC, land prices surged after the news about the merger of districts 2, 9… Read full this story
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