Land prices in HCMC neighboring localities rise

The highest price of VND74.1 million was recorded in Dong Nai province.

The province’s average was also the highest at VND49.3 million, according to a report by property consultancy DKRA Vietnam. It was followed by Ba Ria – Vung Tau and Binh Duong at VND35 million and VND33.5 million.

The two main suppliers were Long An (50%) and Binh Duong (24%), while in HCMC there was none.

Data of real estate portal Batdongsan.com confirmed the trend with land prices in southern provinces surging 7-23% higher.

But the number of searches for this property type fell slightly from 2021, as buyers tread more cautiously amid a highly volatile market, the website said.

Land plots will remain a safe-haven investment, said Tran Khanh Quang, director of property developer Viet An Hoa, as their average profit rate can reach up to 15% a year.