Real estate prices increase abnormally, Ninh Binh hands over police to inspect

(Dan Tri) - Faced with the phenomenon of unusual price increases in real estate transactions in Hoa Lu city, the People's Committee of Ninh Binh province has assigned the police and relevant agencies to investigate.

Clarifying the phenomenon of abnormal price increases

The People's Committee of Ninh Binh province has just issued an official dispatch requesting the provincial police and relevant agencies to inspect real estate transactions of individual houses and residential land in the area where there are unusual price increases.

Ninh Binh Provincial People's Committee requests to strictly handle violations of the law on real estate business, land and other relevant current laws.

The units proposed measures to regulate and ensure the real estate market in Ninh Binh province develops stably, healthily and sustainably.

Real estate trading activities in Ninh Binh have been bustling recently, causing land prices to increase "dizzily" (Photo: Thanh Binh).

Previously, the Department of Construction of Ninh Binh province also issued a document requesting an inspection of real estate business transactions of individual houses and residential land in the area, with unusual price increases in Hoa Lu city.

Land prices "dancing"

According to Dan Tri reporter's investigation, a 70m2 plot of land on Yet Kieu street, Nam Thanh ward, Hoa Lu city (Ninh Binh) was advertised for sale at the end of 2024 for 2.3 billion VND, increased to 3.3 billion VND in early February and in recent days, was offered for more than 4 billion VND.

Land plots in Ninh Binh have increased in price by hundreds of millions of dong (Photo: Thanh Binh).

Ms. H. (residing in Nam Thanh ward) said that her family has a residential land plot in Ninh Thang commune (former Hoa Lu district, now Ninh Hai commune, Hoa Lu city), bought in 2018 for 158 million VND.

After Hoa Lu District merged with Ninh Binh City, Hoa Lu City, the broker offered her land for 2.5 billion VND but she did not agree to sell. After several price increases, she recently sold it to a customer for nearly 4 billion VND.

After many years of working for hire, Ms. BTX and her husband (35 years old) saved up some money to prepare to buy land, hoping to settle down in Hoa Lu city for a long time to settle down and start a business. After the Lunar New Year 2025, a real estate broker introduced her to an 80m2 plot of land in Nam Thanh ward, priced at 2.4 billion VND.

"The night before, the broker informed the owner that he agreed to sell and made an appointment to come the next day to complete the deposit procedure. The next morning when I arrived, the owner "turned around" with many reasons. A few days later, I saw that this plot of land was sold to another customer for 2.9 billion VND. Recently, this same plot of land is being sold online for more than 3.4 billion VND," said Ms. P.

According to Ms. P., the fact that land prices increased by billions of dong in just a few weeks has made people like her who really want to buy land confused and worried.

The price of individual houses and land in Hoa Lu city has increased abnormally, the People's Committee of Ninh Binh province has directed the authorities to investigate (Photo: Thanh Binh).

Plots of land in wards and communes such as Ninh Tien, Ninh Khanh, Tan Thanh, Nam Thanh, Ninh My... have a common characteristic of "selling as soon as they are posted" and "one price in the morning, another price in the afternoon", the latter price is a billion dong higher than the former price.

Posing as a customer interested in a plot of land in Ninh My ward, the reporter was introduced by a real estate broker to a 5x16m2 plot of land, with a 10m wide road and sidewalk, close to the current administrative center of Hoa Lu city. The plot of land is being offered for sale at a price of 3.8 billion VND.

According to Dan Tri reporters, these plots of land belong to the planning area of ​​Thien Ton town (former Hoa Lu district). Previously, around 2020, they were put up for auction at a price of 1.2-1.5 billion VND, then bought and sold many times up to 1.8 billion VND.

During the Covid-19 pandemic, real estate transactions in this area almost froze. Land investors had to sell off their properties, cutting losses of hundreds of millions of dong on these plots, but there were still no buyers.

Buying and selling of land and individual houses in Ninh Binh is bustling on social networking sites (Photo: Thanh Binh).

When Ninh Binh province completed the merger of Hoa Lu district with Ninh Binh city to form the new Hoa Lu city, with more than 80,000 people of Hoa Lu district being upgraded to the city, the price of residential land in Hoa Lu district (old) increased rapidly, but only stopped at the transaction level of 3.2-3.4 billion VND/plot, but currently, these lots are offered from 3.5 to over 4 billion VND.

Just bustling on the "online market"

According to Dan Tri reporters, at real estate transaction points in Hoa Lu city, buyers and sellers were bustling in and out like a market.

On real estate forums in Ninh Binh on Facebook or Zalo, plots of land are being advertised for sale, accompanied by "winged" advertisements to increase the value of these plots of land.

"Plots of land that previously cost just over a few billion VND have now been "inflated" to over 3 billion VND. In some places, land prices were only 20-40 million VND/m2, but now they have been pushed up to 60-70 million VND/m2. Just looking at the prices makes me dizzy," said Ms. P.

A representative of the Land Registration Office, Department of Agriculture and Environment of Ninh Binh province said that the buying, selling and transferring of land in recent days in Hoa Lu city has been bustling on social networks, as well as word of mouth among people, especially in the real estate business community.

"In fact, the transaction of buying, selling and transferring land use rights in Hoa Lu city has not increased dramatically as rumored outside.

The unusual increase in land and individual housing prices in Hoa Lu city has caused confusion and worry for many low-income people (Photo: Thanh Binh).

People come to the land registration office mainly to carry out administrative procedures to change changes on the land use right certificate after the establishment of Hoa Lu city (merging Hoa Lu district with Ninh Binh city), but the transfer of land use rights is not much, only slightly increased," said the representative.

According to this representative, the rumored sale and transfer of land plots with prices doubled or increased to billions is not close to reality. This is most likely a "trick" of real estate buyers and sellers.

"People who buy land and set up camp like my family and many other poor workers will struggle to find land in the midst of this "wave" that has no end in sight," said Ms. X.

Source: https://dantri.com.vn/bat-dong-san/gia-bat-dong-san-tang-bat-thuong-ninh-binh-giao-cong-an-vao-kiem-tra-20250317164106101.htm