Property prices have been spiralling out of control since the establishment of Thu Duc city, Photo: Le Toan Nguyen Minh Tuan, a resident in Phuoc Long commune of the former District 9, was interested in a land plot in Dong Tang Long New Residential Area. However, this plot's price has increased by more than 40 per cent compared to mid-2019 when Thu Duc city was yet in the pipeline. "The prices in this area have increased a lot; however, local landlords still predict that the prices will even further increase towards the end of the year. That is why buyers will certainly make a profit if they buy land plots right now," Tuan told VIR. Prices in the area could sit anywhere at VND30-40 million ($1,300-1,750) per square metre depending on the location in 2019, but are now usually around VND50-70 million ($2,200-3,000) per sq.m. In Tam Da street in the former District 9, a 50-sq.m land plot is now quoted at $3,000 against the $1,750 at the end of 2020. This January, when Thu Duc city was officially established on an area spanning across the old districts 2, 9, and Thu Duc, apartment prices at the King Crown Infinity… Read full this story
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