Analysts have reported a ‘strong wave’ of selling off property to avoid PIT. Real estate brokerage offices these days boast a lot of attractive advertisements for houses and apartments for sale. All of the ad pieces emphasise that property owners want to sell properties as soon as possible. “We need to sell a land lot at Him Lam-Kenh Te project in district 7 at 43 million dong per square metre. The price will be valid for one week only,” says one ad. “The surprisingly low price of 14-16 million dong per square metre is now being offered for land lots at J, H, K blocs of Thai Son 1 project in district 7, HCMCity,” another ad piece reads. Lam Hoang, the owner of a real estate brokerage office, said that he has never seen such a high fever in the real estate market. “Most property owners say it would be better to sell properties at low prices than pay the 25 percent of PIT.” Hoang related that a land lot with the area of 90 square metres at Him Lam-Kenh Te project was priced at 8 million dong per square metre previously and now it is priced at 43 million…
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