Selling garden land on the outskirts of Saigon for billions of profits

Selling garden land on the outskirts of Saigon for billions of profits 4
Selling garden land on the outskirts of Saigon for billions of profits 4

In March 2016, Mr. Kien bought 1,800 m2 of land for perennial crops and garden land on Nguyen Huu Tho Street, Nha Be District, Ho Chi Minh City, for 3.5 billion VND, an average of 1.9-2 million VND per m2.

The landowner invested nearly a billion VND to build a house on an area of 150 m2 and designed it in the style of an ecological garden villa, with occasional change of scenery.

With a new source of money of 7 billion VND, Mr. Kien continues to hunt for agricultural land and garden land to invest in building eco-houses for resale.

Previously, in 2015, Ms. Phuong bought a 1,200 m2 garden plot on La Xuan Oai Street, District 9, Ho Chi Minh City for 3 billion VND.

Besides residential land (with residential functions), the market for garden land, rice land, short-term and perennial crop growing, pond land, canals… along Saigon is happening dynamically.

After more than a year of rental operation, sales of the boarding house began to increase steadily from 35-40 million VND per month to 55-60 million VND thanks to the significantly improved occupancy rate.

`Trading garden land and turning it into residential land is profitable if sold immediately. Building a row of rental houses increases the property value, so I decided to pursue this model. If I build more densely (more rooms)

As an employee of a real estate startup company, Ms. Ngoc Lan has a side job of hunting for agricultural land, moving to residential land and then building rental houses.

`I hunt for garden land to accumulate assets, not sell it in a hurry, so I don’t have billions of profits yet, but in the next 3-5 years, the profits are promising because I have paid back my capital and can take profits from selling both rows of houses.

Having nearly a decade of consulting and brokerage of land-based real estate in Ho Chi Minh City, Mr. Nguyen Tan Phong said, garden land in particular and agricultural land in districts surrounding Saigon such as: District 9, 12, Thu Duc, Thu Duc District.

`Besides residential land (residential land), the market for selling garden land, land for perennial crops, rice land, pond land… became even more vibrant in 2016, when landed real estate showed signs of increasing.

According to this expert, the practice of buying agricultural land, converting it to residential use, then dividing plots and dividing lots for quick sale is being tightened to minimize the risk of disrupting urban planning.

With successful investments, profit margins can be higher than bank interest rates if exploited for lease, and land value continues to increase over time.

However, according to Mr. Phong, there are still many cases where investors hunting for garden land fail due to wrong positioning.

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