Quang Nam seaside commune sees land fever
Many residents in a beachside commune in the central coastal province of Quang Nam are selling their houses amid sharply rising land prices.
"The prices of land here, especially seaside land plots have sharply increased over the last two years," she said. "From just VND2 million per square metre, the prices have continued rising to VND 5 million, VND7 million, and now over VND10 million. I decided to sell our house to have money to start a business."
The 69-year-old woman said that many of her neighbours have also sold their land plots during the recent real estate fevers.
Another resident, Nguyen Thi Son said that she had just sold her 400-square-metre land plot for VND 4 billion.
"My land plot which also lies close to the beach had been left idle for many years before receiving lots of attention over the past two years," Son said. "I'd never imagined I could sell it with that good price. With that money I can buy a bigger house in the nearby village and have some savings.
“The seaside land plots have been mostly sought after by many buyers from different regions," the official said. "The prices have even doubled since the Lunar New Year 2022. Many local people have sold their seaside houses and land during the land fever."
Explaining the land fever, the official said that his commune has recently been added in the plan for building Tam Tien-Tam Thanh Town.
"Several beach resort projects have been built with many beaches being upgraded here," he said. "We also have a busy seafood market which is attracting lots of traders and visitors."
Nguyen Thi Dinh in Tam Tien Commune has just sold her house which lies only some metres from the beach. Her small house was built over 40 years ago on a land area of over 700 square metres.
Dinh's 700-square-metre land plot is sold at USD330,435
Dinh said that she decided to sell the house at VND7.60 billion (USD330,435) and find another house in the village where land prices are cheaper.
"The prices of land here, especially seaside land plots have sharply increased over the last two years," she said. "From just VND2 million per square metre, the prices have continued rising to VND 5 million, VND7 million, and now over VND10 million. I decided to sell our house to have money to start a business."
The 69-year-old woman said that many of her neighbours have also sold their land plots during the recent real estate fevers.
Another resident, Nguyen Thi Son said that she had just sold her 400-square-metre land plot for VND 4 billion.
"My land plot which also lies close to the beach had been left idle for many years before receiving lots of attention over the past two years," Son said. "I'd never imagined I could sell it with that good price. With that money I can buy a bigger house in the nearby village and have some savings.
Many seaside houses have been sold at high prices
Vice-chairman of Tam Tien Communal People's Committee, Nguyen Xuan Uy confirmed that there has been a real estate fever in the area over the past two years.
“The seaside land plots have been mostly sought after by many buyers from different regions," the official said. "The prices have even doubled since the Lunar New Year 2022. Many local people have sold their seaside houses and land during the land fever."
Explaining the land fever, the official said that his commune has recently been added in the plan for building Tam Tien-Tam Thanh Town.
"Several beach resort projects have been built with many beaches being upgraded here," he said. "We also have a busy seafood market which is attracting lots of traders and visitors."
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