The real estate markets in Da Nang and Quang Nam have recently shown signs of recovery after a prolonged slump, attracting investors from major cities like Hanoi and Ho Chi Minh City. Plots closer to Da Nang are in particularly high demand, as investors anticipate potential gains.

Rising land prices amid investor interest

After a period of stagnation, the real estate market in Da Nang has become active again. Land prices near the city center have surged significantly since the Lunar New Year.

On March 18, at the Golden Hills Eco-Urban Area (Lien Chieu District), real estate brokerage kiosks were busy, with agents on standby to assist potential buyers. Vinh Huong, a broker, reported that since the beginning of the year, land prices in the area have increased by approximately USD 4,200 to USD 8,400 per plot. Land along the 7.5-meter road now ranges from USD 96,000 to USD 133,000, depending on the location.

Huong attributed the market’s vibrancy to major infrastructure projects in the northwest of the city, including the Lien Chieu port, the western belt road, and the Hoa Ninh Industrial Park.

In the Bau Tram Lakeside Urban Area (Lien Chieu District), prices have also risen. Plots along the 5-meter road are priced between USD 113,000 and USD 122,000, while those on the 7.5-meter road cost over USD 126,000.

Do Phuoc Tuan, from Thanh Phuc Land Real Estate Exchange, noted that land prices have increased by about USD 8,400 per plot since the Lunar New Year. Investors from Hanoi have been particularly active, seizing opportunities for growth.

Meanwhile, at the Dien Nam - Dien Ngoc Urban Area, most real estate kiosks have reopened, with brokers ready to receive buyers. In addition, many people have been visiting notary offices on Tran Hung Dao and Tran Thu Do Streets in Dien Ban town, Quang Nam Province, to complete property transfer procedures, indicating that actual transactions are taking place rather than merely speculative "price fever."

Land prices in Dien Ban, adjacent to Da Nang, have risen by approximately 20% compared to pre-Tet levels. Thuy, a prospective buyer from Nui Thanh District, explained that she wanted to purchase land before any official merger news drives prices even higher.

Exercise caution amid speculation

Nguyen Duc Lap, Director of the Institute for Real Estate Studies and Training, emphasized that Da Nang's real estate market is being boosted by positive news, including plans for the Da Nang Financial Center, the Free Trade Zone, and other large-scale projects. Additionally, low interest rates encourage investment in real estate. News about the potential merger of Quang Nam and Da Nang, although not officially confirmed, has also fueled market excitement.

However, Lap cautioned that some border areas between Da Nang and Quang Nam have legal challenges related to certain projects. He advised investors to carefully verify project information and only purchase properties that have completed legal procedures.

Vo Hong Thang, Deputy General Director of DKRA Group, noted that rumors of a provincial merger have partially driven land prices up, with some brokers exploiting the situation to inflate prices for profit. Thang warned that such price hikes are not sustainable, as merging provinces only involves administrative changes rather than major improvements in infrastructure or public investment.

“When the merger news cools down, those who bought at peak prices may face significant losses,” Thang warned.

Ho Giap - Ha Nam