High-priced apartment projects in Hanoi and Ho Chi Minh City one after another
Ministry of Construction believes that the recent rise in real estate prices is largely due to the influence of a number of factors, such as the increased volatility of land-related costs in some regions. There is not enough supply of affordable housing products to meet market demand.
Accordingly, due to the rise in real estate prices, apartment sales prices especially rose in some regions, rising by approximately 35-40% compared to the previous quarter by region. According to the survey and summary report of some large cities such as China in the first quarter of 2024, according to Ha Dayi and Ho Chi Minh City (HCMC), the prices of ordinary apartments in Hanoi continue to rise in both new and existing projects, and the price level of new projects increases quarterly. It increased by approximately (4% to 6%) and annually (22% to 25%).
In the affordable apartment segment market (selling price less than VND250,000/m2), there are very few products for sale and trading. Mid-range apartments (about VND250,000 to less than VND500,000/m2) still account for a high transaction and supply ratio in the market, while the remaining orders are for high-end apartments. -Ends at a price of over 500 million VND/m2.
After researching several projects in Hanoi, Ho Chi Minh City and some regions, the specific selling prices are as follows:
Hanoi: The selling price of Ecolife Tay Ho is approximately 72,600 VND/m2. Sunshine Garden (Hai Ba Trung), about 54.2 million VND/m2, Chelsea Park – Cau Giay, about 62.3 million VND/m2; Trang An Complex – Cau Giay, approximately 70,800,000 VND/m2; Riverside Garden – Thanh Xuan, approximately 56,900 VND/m2; Legend Tower – Thanh Xuan, 71.7 million VND/m2; Anland LakeView – Ha Dong, about 60,500 VND/m2; Imperia Smart City – Nam Tu Liem, approximately 62,100,000 VND/m2.
Vinhomes Ocean Park in Zurich district, Cau Giay, Trung Hoa ward costs about 460,000-550,000 VND/m2. The Lumi Prestige project costs 690,000 VND/m2 in Tay Mo District, Nam Tu Liem District. The cost of the Ninety Complex project is approximately 60-75 million VND/m2 in Dong Da district.
The cost of Sapphire – Vinhomes smart city project is approximately 470,000-610,000 VND/m2 in Nam Tu Liem district. The mixed housing project of 107 Nguyen Tuan Vihacomplex costs about 75 97.2 million VND/m2 in Thanh Xuan district.
Long Bien wards Ngoc Thuy, Khai Son City project in Thuong Thanh, HH4, HH5, CL2, CL3, CX and P1 marked land, the price of high-rise houses, trees and parking lot project is 50-68. Million VND/m2…
Meanwhile, in Ho Chi Minh City, the specific selling prices of some projects are as follows: The Horizon Phu My Hung, approximately 12.54 billion VND/m2; The Ascent – District 64,2, approximately 20,000 VND/m11; Lu Gia Plaza – District 46,4, about 20,000 VND/m41,8; Osimi Tower – Go Vap area approximately 20,000 VND/mXNUMX.
The cost of the Diamond Centery project in Tan Phu district is 610,000 – 73,300 VND/m2. The Stown Tham Luong project cost is 43,500 ¼ 20,000 VND/m12 in District 29,8. The cost of the Urban Green project in Thu Duc City is 520,000 to 59,700,000/m2. Glory Heights – Vinhomes Grand Park project cost is 802 million VND/m9 in District 40.
District 7 Aurora Phu My Hung project (price 880,000-900,000 VND/m2); Beverly Solari – Vinhomes Grand Park project, District 9 costs 46,83 ¼ 65,600,000 VND/m2.
According to data compiling reports from construction departments in 60/63 regions, the number of apartment and single-family home transactions in the first quarter of 2024 reached 38.398.
Hundreds of people auctioned off land in Haiphong.
On October 11, the city’s Thuy Nguyen District People’s Committee organized an auction for the use rights of 69 residential lands in Bai Trong village, Hoa Dong commune, Husi phone. Prices start from 31,800,000 to 37,940,000 VND/m2.
In this auction, the successful bid results for 5,898,3 lots with a total area of 69㎡ were announced.
After releasing the bidding documents, the highest bid for land was VND47.19 million/m2, a 24% increase over the starting price. The land covers an area of 73m2 and has a total value of VND3.4 billion. Due to its beautiful location, it has the largest number of auction participants.
Additionally, the lowest winning land cost is nearly 32,200 VND/m2.
During an auction, bidders sometimes win multiple parcels of land, some of which are adjacent to each other. In particular, in about 15 of the 69 lots up for auction, there were no registered auction participants or the number of participants did not meet the conditions.
On May 11, Hai Phong City Real Estate Auction Service Center will continue to release auction documents for 114 parcels of residential land in Bai Ngoai village, Hoa Dong commune, Thuy Nguyen district.
Can Tho conducts land surveys specializing in golf courses and airports.
Can Tho Duong Tan Hien, Standing Vice Chairman of the Municipal People’s Committee, recently signed the “2024 Land Inventory Plan and Current Land Use Status Mapping”.
According to the plan of the Can Tho City People’s Committee, the objects of the regular land survey in 2014 include all types of land area, land users, those designated for management by the state and the general area in accordance with planning regulations. Ministry of Natural Resources and Environment.
At the same time, during the land survey, land management and use for golf courses, airports, airports, farms, etc. will be assessed.
Can Tho City People’s Committee requires the contents of the land inventory report to evaluate the current land use status according to the land inventory standards. Evaluate the implementation of five-year land use plans at the district level.
At the same time, the causes of land use changes in the land survey years are analyzed using data from two land survey periods (2019 and 2024). Situations that have not yet been implemented, such as land allocation, land lease, land use change permission, etc. Situations in which land users change the purpose of land use on their own; Reasons for changing cadastral records and other land use purposes.
Can Tho City People’s Committee requires the management and use of golf course areas to be analyzed and evaluated in detail for the thematic land inventory report. Airports and airfields; landslide and accretion areas; Soils from agriculture and forestry.
Based on this, we propose measures to strengthen the relevant entity’s land management and improve land use efficiency.
What to do when purchasing planned or disputed land
People need to know what to do when purchasing planned or disputed land to protect their legal rights.
Check the transfer agreement details.
Case 1: If there is a promise that the land is not under planning or in dispute, the transferee has the right to request the return of the money from the transferor. If the transferor fails to perform, you have the right to sue to enforce the contract.
Case 2: If there is no promise that the land is not part of the plan, unless proven fraudulent, both parties must accept it because its contents were agreed upon by the parties.
Additionally, in the case of disputed land, since the user of the disputed land does not have the right to transfer his or her land use right to another person (subject to paragraph 1), the transferee has the right to request the return of money from the transferor. Land Law 45 Article 2024).
Benefits of owning land in planning
Request for a limited-time building permit: Pursuant to Article 1, Section 2020 of the 33-year-amended Building Act, if three years have passed from the date of the annual land use plan notice and no decision to cancel has been made (often when the plan is suspended), the land user may request a construction permit for a limited period of time. You have the right to request.
Possible transfer or donation: Case 1: In accordance with Article 37, 2018 of the Act Amending and Supplementing Parts of Article 6 of the Law on Annual Planning, if a plan is announced but there is no plan to use it, even if it is used at the annual land district level, the land user is subject to conditions If you meet the requirements, you can still transfer, donate, mortgage, etc.
Case 2: According to Article 37 of the Act 2018, amending and supplementing several provisions of Article 6 of the Act relating to annual planning, if there is an annual land use plan at the district level, land users in the area are required to change their land use . You can still exercise your rights as a land user to reclaim land and fulfill your purposes according to your plan, but you are not permitted to build new houses, carry out works or plant perennial crops (restricted rights).
If land users need to modify or repair existing houses or structures, they must obtain permission from the competent state agency.
If the competent state agency that approved the land use plan does not adjust or cancel the land use plan, or does not announce the adjustment or cancellation, the land user’s rights to the land use plan (new construction) are not limited. houses, buildings, planting perennial trees).
Compensation for land and property attached to land: Compensation for land when it is due for recovery under section 2024 of the Land Act 1995 is provided if the following conditions are met:
There must be a certificate of land use right or certificate of ownership of housing and residential land use or certificate of land use right, certificate of ownership of houses and other assets attached to the land or certificate of land use right, land use, certificate of ownership of assets attached to the land.
There are decisions to allocate land, decisions to lease land, and decisions to allow changes in land use purposes from competent state agencies.
In accordance with the provisions of Article 137 of this Law, one of the documents on land use right must be retained as the basis for issuing land use right and certificate of ownership of assets attached to land.
Land use rights are transferred in accordance with legal provisions from a person who has legal land use rights but has not completed land registration procedures.
Use the land agreed upon in the mortgage contract to settle the debt. It is a document acknowledging the results of a land use rights auction in which the winning bidder has fulfilled its financial obligations in accordance with legal provisions.
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