Don't dream in the "land fever"

The sudden increase in land prices in many places today is mainly due to the impact of rumors about this or that locality being the center when merging administrative units. It is also possible that land brokers are manipulating prices and creating a virtual fever.

Illustration photo: vnexpress.net

Real estate experts say that the selling price of land does not reflect the true value on the market. Because the true value on the market of real estate must be based on the actual needs of the residents, sellers, buyers, agencies, land-using units, especially the location, legality, infrastructure, planning, utilities and economic, cultural and social development of that locality. Also because land prices are increasing abnormally, there is no clear basis for reference and actual transactions are not recorded much.

In response to warnings from authorities and experts, buyers need to be very cautious and carefully research information to avoid getting caught in a spiral of high fever and then freezing, with money “buried” in the land. In fact, most people who buy land during times of unusually high prices do so not to live in but to speculate and “surf” for profit, thus posing great risks.

The “land fever” that is not due to the real market value of land has caused many people to go bankrupt. The painful lesson is still valuable, but because the high profits from “surfing” are sometimes created too quickly, many people are still sleeping in the “land fever”.

NGUYEN TUAN

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Source: https://baodaknong.vn/dung-mo-trong-con-sot-dat-247493.html