HCMC – The government of Danang City has ordered a sweeping review of land valuation and auctions to curb price manipulation and real estate speculation amid a resurgence of property activity in the central city.
The chairman of the Danang City People’s Committee has signed Official Dispatch No. 2795, instructing authorities to inspect, rectify, and penalize violations related to property pricing and land use management, the Vietnam News Agency reported.
Danang’s Department of Agriculture and Environment has been tasked with leading a comprehensive review of land valuation, compensation, resettlement, and land-use rights auctions. The goal is to prevent and strictly handle cases where individuals or organizations exploit land auctions to inflate prices for profit, destabilizing the property market.
Authorities must also consolidate inspection results and report difficulties encountered during policy implementation to the Ministry of Agriculture and Environment for submission to the prime minister.
Since early 2025, Danang has witnessed a localized surge in real estate activity, particularly in areas near proposed administrative mergers, infrastructure projects, or newly planned developments. The rising demand has led to an unusual increase in land-related paperwork, with residents lining up early to complete land-use procedures.
The sharp rise in land prices has also driven stronger demand for apartments. In early October, hundreds of residents queued overnight to register for social housing units in Hai Van Ward, with prices ranging from VND714 million to over VND1.1 billion per unit.
A similar scene occurred in June at another social housing project in Ngu Hanh Son Ward, where buyers competed for apartments priced between VND820 million and VND1 billion.
To meet growing housing demand, the city has approved several new projects. On October 13, vice chairman Le Quang Nam signed Decision No. 1962/QD-UBND, granting investment approval for the Hoa Minh social housing project, developed by Hanoi Sunrise Investment Development JSC.
Located on Tran Anh Tong Street in Thanh Khe Ward, the project will cover over 7,700 square meters, with a total floor area of 81,324 square meters. It will include 20 floors and two basements, providing 933 apartment units with total investment capital exceeding VND1.3 trillion. The project has a 50-year implementation period from the date of land allocation.
Earlier, on October 10, the city’s Department of Construction announced a list of 10 commercial housing projects eligible for future home sales. These include major developments such as the Thuy Tu Tourist Urban Area (695 units), Capital Square 2 and 3 (over 1,100 units combined), and FPT Plaza 3 (837 units).
Other approved projects include Mia Plaza in Lien Chieu Ward (167 units), the Nam Khang Resort Residences (18 villas), the Tuyen Son high-rise apartment, commercial office, and housing complex (1,112 apartment units), and the apartment complex project on the banks of the Han River in Son Tra Ward (941 units).
In addition, the Danang Real Estate and Marina Project in Son Tra Ward comprises 34 apartments, while the Con Tien Urban Area Project in Hoi An Dong Ward features 340 townhouses, semi-detached houses, and villas.
