There are places with huge discounts but still no customers.

Chuong My land (Hanoi) after the "drought" of flooding: Some places have drastically reduced prices but still have few customers

In flooded areas in Chuong My district (Hanoi), land prices have dropped dramatically but still cannot find buyers. Meanwhile, some areas have investors hunting for them and "closing" their purchases very quickly.

More than 3 weeks have passed since storm Yagi passed, but many communes in Chuong My district (Hanoi) are still flooded.

However, while local people struggled to wade through the water to go to work and school, some investors took the opportunity to conduct field surveys to see if their "savings" were submerged in water.

Many alleys in Chuong My district are still flooded.

From fields, many places have become lakes after storms and floods.

In Tan Tien commune, one of the most flooded areas in Chuong My district, plots of land located right next to the road are priced at only VND5 million/m2. This figure is 3-4 times lower than the average land price in the district.

These plots of land are flooded, with water still reaching half of their calves. According to local residents, the owners have been selling these plots for 2 years now but have yet to find a buyer.

Many houses were flooded up to the roof. The water shows no sign of receding even after more than three weeks.

After the storm, many plots of land still have stagnant dirty water. If not thoroughly treated, these lakes risk becoming hotbeds of disease.

Many houses were submerged in water. Photo: A flock of ducks swimming around a house.

Also in Tan Tien commune, plots of land located on the street and not flooded are priced at nearly 25 million VND/m2, 5 times higher than flooded areas.

However, not all communes in Chuong My district were deeply flooded. Sharing with reporters of Dau Tu Newspaper, Ms. Dung, an investor, said that the land she had just "finalized" was completely dry.

The land that Ms. Dung bought is located in Hoang Van Thu commune. This is one of the resettlement plots for households whose land was recovered to implement the Sky Lake golf course project.

The plot of land that Ms. Dung just bought has an area of ​​120 m2, the alley in front of the house is 5.5 m wide and is about 1 km from Sky Lake Golf Course. Within a radius of 200 m around the plot of land are many houses and the village kindergarten.

The transaction price of the land plot was 1.3 billion VND, equivalent to 10.8 million VND/m2. With that amount of money, Ms. Dung was confident that she had bought the land at a bargain price.

Ms. Dung conducted the transaction at the notary office. The time from viewing the land to "closing" the transaction only lasted 5 days.

Right next to Ms. Dung's plot of land, locals are selling a villa with a floor area of ​​100 square meters for about 3 billion VND.

According to some investors, they plan to hold onto their houses/land in Chuong My district for at least 3-4 years. Mr. Ngo Xuan Chuc, Director of a real estate trading floor in Thanh Xuan district, also confirmed that the price of land plots near Sky Lake golf course will increase to 20 million VND/m2 after 5 years.

The villa in the picture is for sale for 3 billion VND.

A 120 m2 plot of land, located right next to the back gate of the golf course, is being sold for 1.6 billion VND. There are almost no households living around this plot of land.

Investors are looking at a 90 m2 plot of land worth over 1.2 billion VND. The road in front of the house on this plot of land is quite wide, enough for two cars to pass each other.

In Hoang Van Thu commune, plots of land located outside the main road are priced up to 43 million VND/m2. However, most of these plots do not have red books.

The plot of land in the picture is just a few steps from the main road, the price is being offered for more than 10 million VND/m2. Although this land does not have a red book, the owner has paid all taxes.

A plot of land that has paid taxes but does not have a red book is currently priced at 6 million VND/m2. This figure is about 4 - 5 million VND/m2 lower than plots of land with a red book.

Brokers said that such “red book” plots of land still attract investors. However, according to the reporter’s observation, investors still recommend buying land with a red book to increase liquidity.

Source: https://baodautu.vn/batdongsan/dat-chuong-my-ha-noi-sau-han-ngap-lut-co-noi-giam-kich-san-van-vang-khach-d226234.html