Da Nang requests to prevent real estate 'price inflation'

The city's leaders requested units to conduct comprehensive inspections of land valuation and auctions to prevent and handle manipulation that destabilizes the real estate market.

This content is stated in the document that the People's Committee of Da Nang City sent to departments, branches and localities on October 14. Accordingly, the city requested units to increase inspections, reviews and strictly handle acts of price manipulation, real estate speculation and tighten management and land use in the area.

Specifically, the Department of Natural Resources and Environment was assigned to preside over, together with the Department of Construction and the Land Fund Development Center, to comprehensively inspect and examine the valuation, construction and issuance of land price lists. The units also inspected the compensation, support and resettlement process for people when the State reclaims land and auction activities.

The directive issued by Da Nang City aims to detect, prevent and handle violations, especially the situation of taking advantage of land use rights auctions to "inflate prices", manipulate for personal gain, causing instability in the real estate market.

People carry out administrative procedures related to land in Ngu Hanh Son district (old), April 2025. Photo: Nguyen Dong

Currently, Da Nang is showing signs of "land fever" in suburban areas and new projects. Land prices have also increased significantly in many areas, especially in areas with synchronous infrastructure, or in the vicinity of Hoi An ancient town...

In April, in Ngu Hanh Son district (old), the number of land records doubled after information about the administrative boundary merger with Quang Nam. Every day, the district's one-stop shop receives nearly 200 records, twice as much as usual, mainly procedures for transferring, dividing plots and transferring land use rights. The government said that the increase in land-related records is mainly due to people's concerns about changing administrative units, but it does not rule out speculation and price inflation.

Land prices in the area bordering Dien Ban, especially around the urban areas of FPT, Hoa Quy and Nam Cau Nguyen Tri Phuong increased rapidly, averaging 10-15% compared to the beginning of the year. Many people and investors from Hanoi and Quang Nam flocked to buy land, while brokers also took advantage of the "province merger" mentality to push up prices and create virtual transactions.

Nguyen Dong