Although the real estate market nationwide still shows no signs of recovery, property investors in the southern province of Dong Nai have been selling many land plots at the projects.
DONG NAI —
In late March, for example, the Dat Xanh Real Estate Services and Construction Corporation began selling 200 land plots at its Gold Hill Project in rural Trang Bom District, with prices ranging between VND2.9 million (US$138) and VND4 ($190) million per square metre.
All the lots were sold out on the first day, according to the corporation's chairman, Luong Tri Thin.
The market's purchasing power has surprised real estate traders.
In addition, the Kim Oanh Real Estate Joint Stock Company announced the sale of land plots at Bien Hoa Dragon City II Project in Bien Hoa City's Tam Phuoc Commune, at prices of between VND2.6 million ($125) and 3.8 million ($182).
Of the 250 plots that were sold, 70 per cent were sold on the morning of the first day of sale, according to the company's general director, Dang Thi Kim Oanh.
Earlier, Kim Oanh sold another 250 plots at this project within the first three days of sales.
Business is also brisk at the East Sai Gon Project in Nhon Trach District's Phu Thanh and Long Tan Commune.
Hoang Linh, director of the Hoang Linh Real Estate Co specialising in land sales in rural Nhon Trach District, said the number of customers interested in property projects in the locality had increased significantly.
The price of real estate projects in Nhon Trach fell by 30 to 40 per cent to VND1.5 million ($72) and VND2 million ($96) per square metre compared to several years ago.
Many people have decided to invest in real estate projects in Nhon Trach because the prices are reasonable and are not expected to drop.
One source said the expected opening of the Phuoc An Port had also encouraged people to invest in local property projects.
Market analysts said the Dong Nai Province's real estate market had good prices while technical infrastructure facilities there were well developed.
More importantly, Dong Nai is located at an important transport axis in the southern key economic zone, with many roads, waterways, railways and airways in the area. — VNS