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Empty land plots top Dong Nai real estate market

Released at: 16:06, 31/08/2015

Empty land plots top Dong Nai real estate market

Land plots attract most investors in Dong Nai during first half.

by Nguyen Quynh

Empty land plots are dominating southern Dong Nai province’s real estate market, with 93 per cent of the market share, according to the latest report from Savills on Dong Nai’s real estate market in first half of 2015.

The report showed that Dong Nai had 51 residential projects supplying more than 30,100 dwellings. The villa/townhouse segment followed the land plot segment with a 5 per cent market share, followed by apartments with just 2 per cent.

Land plots also saw the greatest transaction volume, with only a small number of buyers purchasing villas/townhouses and apartments as second homes or future residences. As at the second quarter approximately 87 per cent of the total launched plots in 18 active land plot projects have been sold. Prices ranged from VND2.3 million ($101.2) per square meter to VND6.3 million ($227.2) per square meter.

The reason why land plots have become the hottest segment in Dong Nai, according to Savills, is that investors now prefer them, especially when they are at an affordable price and accompanied by red books, or land ownership certificates. In the longer term, the completion of key transportation networks and the development of social facilities should attract full-time residents.

Estimated future supply

As noted by Savills, in the future, landed property supply consists of 47 projects with a total size of 4,850 ha in Long Thanh, Nhon Trach and Bien Hoa. Most are still in the planning stage or conducting site clearance.

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