Vietnam Real Estate News

Huynh Thanh Hung, chairman of Dat Vang (Golden Land) Real Estate Company based in the city, said land prices at residential projects have risen by VND30-50 million (US$1,680-$2,800) per plot compared to the beginning of this year.

At the My Hung residential area, land prices climbed by VND200,000-VND300,000 per square meter compared with July, he said.

“From early October, the Can Tho property market has become hotter and hotter,” said Hung. “Investors are pumping money into the market on speculation that this will bring profits this year-end.”

In early 2009, a 4.5x23 meter land plot in Binh An residential area project cost VND450 million, but it is now being traded at VND480 million, according to Hung.

Vo Thanh Van, director of Thien Loc Company, said, “At the time of the opening ceremony of Can Tho Bridge (October 12), the number of traders at realty firms and exchanges in the city rose by 15-20 percent, and most of them are high-income earners from Ho Chi Minh City.”

Do Cong Quyen, director of Mekongland Real Estate Services Company, said project investors are speeding up construction on their buildings in the hope that the Can Tho property market will be livelier from now until completion of the bridge.

Spanning the Hau River and located 3.2 kilometers from the Can Tho ferry, the 2,750 meter-long Can Tho Bridge with four lanes and two 2.75-meter-wide walkways will knock 32 minutes off the travel time compared with using the ferry.