Nhiều nhà đầu tư tay ngang, ít kinh nghiệm, lần đầu lao vào cơn sốt đất đã lâm vào cảnh nợ nần, phá sản vì mua phải đất vướng pháp lý, không thể giao dịch.
Recently, land along lakes in Hanoi and Hoa Binh has experienced a boom as many investors are scrambling to buy it, with prices in many areas doubling or tripling in a short period of time.
Following the planning of the areas along the Red River, land in Dong Anh (Hanoi) continues to experience a "boom" with prices increasing by 5-7 million VND/m2; however, transactions remain relatively sluggish.
Issues such as land use fees, administrative procedures, and credit are the "bottlenecks" leading to the unsustainable development of Ho Chi Minh City's real estate market today.
According to the Ho Chi Minh City Real Estate Association (HoREA), from 2017 to June 2018, there were two waves of speculative land price surges, involving the illegal subdivision of agricultural land in some suburban districts and outlying areas of Ho Chi Minh City.
From the beginning of the year to the middle of the second quarter of 2017, the land plot segment for townhouses became the focal point of the real estate market's boom. However, with recent continuous warnings about price inflation, the market has undergone a strong correction, especially for subdivided land plots in suburban areas.
The widespread land speculation frenzy, with land prices fluctuating wildly every day, has led many to jump into "speculative investing" hoping to make quick profits. However, when the land fever subsided, many found themselves bankrupt.
Since the National Assembly officially approved the separation of land acquisition, compensation, support, and resettlement aspects of the Long Thanh International Airport project into a separate component project, land prices in the area have continued to skyrocket.
After the lessons learned from the 2009-2013 real estate bubble burst, it was thought that the phenomenon of people rushing to invest in real estate like in 2007 would no longer occur. However, this trend has recently resurfaced, leaving many with regrets.
Affirming that the recent speculative land price bubble has been brought under control, Vice Chairman of the Ho Chi Minh City People's Committee Le Van Khoa also stated that "this is a profound lesson for the city".
Regarding the recent increase in land prices in the suburbs of Ho Chi Minh City, some consider it normal, while others worry about a speculative bubble.
The directive from the Standing Deputy Secretary of the Hanoi Party Committee, Tat Thanh Cang, to involve the police in investigating land price manipulation has had some impact on investor sentiment; the number of people looking to buy land has decreased, but land prices continue to rise sharply.
The recent land price surge in Ho Chi Minh City and some provinces, besides factors like infrastructure and planning, is largely due to speculators inflating prices, which is one of the main reasons for the rapid increase in land prices in a short period of time.
Land prices in Ho Chi Minh City have surpassed their 2007 peak and are also being stimulated by infrastructure, but this current land fever is taking on a different direction.