Real estate prices in Hoa Lu City increased abnormally, Ninh Binh assigned the police to investigate

(NLDO) - To rectify the situation of abnormal increase in real estate prices, Ninh Binh province has issued a document assigning the Department of Construction to coordinate with the provincial police to investigate.

Mr. Nguyen Cao Son, Vice Chairman of Ninh Binh Provincial People's Committee, has just issued Document No. 350/UBND-VP4 dated March 19, 2025 to Ninh Binh Provincial Police, Departments: Construction; Finance; Agriculture and Environment; Justice; Tax Department, Hoa Lu City People's Committee on inspection of real estate business transactions of individual houses and residential land in the area with abnormal price increases.

Real estate prices in Hoa Lu City, Ninh Binh Province have increased abnormally in recent times.

In the document, the People's Committee of Ninh Binh province assigned the Department of Construction to coordinate with the Provincial Police and related units to inspect real estate business transactions of individual houses and residential land in Hoa Lu city with abnormal price increases, thereby strictly handling violations of the law on real estate business, land and other relevant current laws (if any).

At the same time, propose measures to regulate and ensure the stable, healthy and sustainable development of the real estate market in the province; the inspection results report and these proposals must be submitted to the Provincial People's Committee before March 31.

Previously, on March 17, the Department of Construction of Ninh Binh province also issued a document requesting inspection of real estate business transactions of individual houses and residential land in the area with unusual price increases.

Land auction prices in Hoa Lu City have doubled, even tripled compared to before Lunar New Year 2025.

According to research, over the past month, land prices in Hoa Lu City have suddenly skyrocketed. On average, a residential plot of land with an area of ​​100 m2 - 120 m2 costs from 3.6 billion VND to 4.5 billion VND/plot, depending on the location, many times higher than before.

According to some real estate traders in the area, if before the Lunar New Year 2025, the price of a plot of land (from 100 m2 - 120 m2) fluctuated from 1.6 billion VND to 2 billion VND, now it has doubled, even tripled.

The reason for the sharp increase in land prices in Hoa Lu City is that Hoa Lu City was newly established on the basis of merging Hoa Lu District and Ninh Binh City.

Besides, information about the merger of some provinces is also a reason for pushing up land prices in Hoa Lu City.

Source: https://nld.com.vn/gia-nha-dat-tp-hoa-lu-tang-bat-thuong-ninh-binh-giao-cong-an-vao-cuoc-196250322080348683.htm