At the beginning of the year, land prices in many localities showed signs of local heating. Provinces and cities with information about mergers and areas predicted to be new centers recorded a sudden increase in real estate prices.
According to VnExpress, land prices in many places such as Hung Yen City, Van Giang District (Hung Yen), Viet Tri City, Ninh Binh City, Bac Giang City ... have been increasing by 5-15% compared to the end of last year. Many landowners even advertised prices to increase by more than 20% to benefit from the merger "wave".
Faced with the above situation, localities have continuously issued warnings about the risk of "virtual land fever", especially in areas predicted to be new administrative centers.
Thai Binh Provincial Police have just issued a warning to investors to stay calm and not believe rumors about the merger of administrative units. If fraud or market manipulation is detected, investors should promptly report it to the nearest police agency. According to this unit, the decision to invest must be based on many factors such as legality, planning, and land location to calculate investment efficiency.
Similarly, the Department of Construction of Phu Tho province warned about the risk of virtual fever in the area. This unit said that so far, the number of transactions on the floors is still limited. The high land prices may just be a trick of "land brokers" to inflate prices. The Department representative advised people who want to buy land to carefully research the information to avoid falling into the price-fixing trap of "brokers".
Ninh Binh and Tuyen Quang provinces also issued warnings about the sudden increase in land prices according to rumors in the area. Ninh Binh province assigned the provincial police to inspect real estate transactions, especially in Hoa Lu city, to verify the unusual price increase.
A representative of the Department of Agriculture and Environment of Tuyen Quang also warned that the rush to buy land and follow trends in areas promoted by "brokers" will only disrupt the market, leading to great risks.
In Bac Giang, the Department of Construction said it will strengthen inspection and handling of real estate business activities without sufficient conditions, spreading inaccurate rumors, and negatively impacting the market.
Decree 96 stipulates a number of articles of the 2023 Law on Real Estate Business, effective from August 1, stating that the State will implement measures to regulate the market if the transaction price index increases or decreases by more than 20% within three months. The Ministry of Construction is responsible for assessing market fluctuations based on price indexes, transaction volume, and socio-economic indicators in other fields related to real estate.
Many experts have warned that land investment following the "wave" of rumors is potentially risky. Mr. Dinh Minh Tuan, Director of Batdongsan channel, said that not all plots of land will increase in price if the area lacks development motivation. In case the plan to merge localities is slower than expected or the planning changes, investors will be stuck because of the high risk of losing liquidity.
Mr. Nguyen Chi Thanh, General Director of Ho Tay International Building Company, also said that the rate of investors winning thanks to the land "wave" is actually very low. Meanwhile, the only beneficiaries of previous "waves" were the fever-creating group, brokers and a few lucky long-term investors.
"When the fever reaches its peak, speculators will withdraw from the market, leaving many consequences for later buyers," Mr. Thanh warned.
Duong Chung (According to vnexpress.net)
Source: http://baovinhphuc.com.vn/Multimedia/Images/Id/125821/Loat-dia-phuong-canh-bao-“sot-dat-ao”-theo-tin-don-sap-nhap
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