First time I've seen this

Just reading between the lines and only based on the article a 30-40% reduction translated into 1B VND reduction.  That kind of makes sense.  For a new development with nothing around in Da Nang, not HCMC it translates into a 2.8 - 3B VND lot charge.  That's high outside of HCMC but still could have attracted some investors who are used to HCMC prices.

My wife went to an area near the new planned airport in Dong Nai to look at property a couple of months ago.  Looks just like the photo in the article.  New roads and zero houses.  They were asking 1.6B for lots.  I think that is reasonable and about where this Da Nang property should be priced.  If it did bsically double over the last year and people did pay high 2B range at the peak that puts true value right back down to around 1.4-1.5B which is about what it would be worth.  But, reducing it from 3B to 2B isn't enough.  It needs to go down more before they find buyers.

This is stricly based on my opinion since I've been looking hard for property to buy and hold before we move back to US so we have a place to build when we retire and have been watching the market very closely the last several months.

The problem I'm running into is where we want to go, Lai Theiu in THu Duc and looking at 250-300 meter lots most of them that size have been held for years and are probably paid for so they will sit on them until they get what they want.

It's still killing me to pay 5B for a small patch of dirt when it would buy a really nice house where I come from so it's been hard to pull the trigger.