Skyrocketing prices These days, social networks are littered with posts promoting real estate, from urban land to farmland. Real estate agents constantly try to close sales land projects or townhouses, sprinkling in bits of info about how prices are predicted to rise rapidly to talk customers into purchasing the assets. In Ninh Kieu District, noteworthy projects that are being actively advertised include Hung Loi Villas, with an average price of VND29 million per square meter (US$1,246); or Eco Villas Con Khuong in Cai Khe Ward at about VND19 – 25 million per square meter ($816 – $1,073) depending on locations. In the urban zones of An Khanh and An Binh wards, land prices range from VND2 – 4 billion ($85.9 -171.9) per lot. In the Southern part of town, prices also skyrocketed to VND1.5 – 3 billion ($64.3 – $128.7) per lot. A street-front land lot in this area would cost over VND2.5 billion ($107.3), not including house-building expenses. This amount is a real challenge for working class people in Can Tho. Ms. Le Thi Hoang, a land dealer in Cai Rang District commented that one plausible solution for middle class people is to buy land in the outskirts, about 7 – 15km from the city, where land prices range from VND2-3 million (USD$85.9 – $128.7) per square meter. However, most of the land lots here are for cultivation, and not many residential lots are available. Rising land prices: actual demands or mere hype? In the face of real estate… [Read full story]
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