According to the Kon Tum Department of Natural Resources and Environment, “land fever” was experienced in certain localities in the central highlands’ province from mid-2021 to the opening months of 2022, after false information had spread. In the second quarter, though transaction volumes for land plots have rebounded, the land price remains flat and largely unchanged from the first quarter. Of note, social housing is gradually attracting more attention.

According to Nguyen Chi Thanh, General Secretary of the Vietnam Association of Realtors (VARS), land fever is unlikely this year and land prices will be adjusted more reasonably thanks to sound control policies and the implementation of the social housing development program.

The impact of Covid-19, inflation, and the Russia-Ukraine conflict are among the key factors behind investor cash flows seeking shelter in real estate. Many localities have also begun to focus on developing industrial parks to attract FDI and at the same time invest in tourism development to quickly recover their real estate industries post-pandemic. Such expectations have led investors to focus on acquiring land funds.