Illustrative image (Source: VNA)
 
Hanoi (VNA) – Localities surrounding Hanoi and Ho Chi Minh City, as well as the central coastal provinces from Thanh Hoa to Binh Thuan, are stepping up investment in economic, industrial, and urban development towards the sustainable growth of the real estate market in 2019, according to General Secretary of the Vietnam Association of Realtors Nguyen Van Dinh.

This year, land lots continue to be the main focus, with prices forecast to rise by 10-15 percent.

According to surveys, the land lot sectors in the southern provinces of Long An, Dong Nai, Binh Duong, and Vung Tau have drawn special attraction. Insiders said that compared with the average national price, the cost of land lots in these localities are lower, but looks likely to increase in the time ahead.

The price of land in the outskirts of Ho Chi Minh City is making a record high. Dinh noted that 1 billion VND (43,100 USD) is not enough to buy a land lot there anymore, adding that with this amount, investors still have choices in surrounding areas.

According to him, the property fever in Phu Quoc and Van Don special administrative-economic zones has died down, but the real estate market will continue growing, thanks to the development of tourism and strong investment in infrastructure.

He advised localities to tread carefully in approving new real estate projects and avoid a mass approval, which would lead to an oversupply. –VNA