According to Lao Dong reporters, many plots of land in Dong Anh and Gia Lam districts have recently been sold by their owners at high prices, exceeding 100 million VND/m2.
For example, a 60m2 plot of land in Mai Lam commune (Dong Anh district) is being offered by its owner for 6.4 billion VND, equivalent to about 107 million VND/m2. According to the owner, this plot of land is located near Dong Tru bridge, only about 15 minutes away from Hanoi's Old Quarter, and many investors are making appointments to see it.
Similarly, a 74.9m2 plot of land, bordering two roads in Kim Chung commune (Dong Anh district), is also being sold for VND8.9 billion, equivalent to VND119 million/m2, located in a densely populated residential area, convenient for business and trading.
Or in Gia Lam district, a 42m2 plot of land located on Ngo Xuan Quang street, where cars pass through, is being sold by the owner for 5.6 billion VND, equivalent to 133 million VND/m2.
Not far away, a 58m2 plot of land located in Trau Quy town (Gia Lam district) is also being sold by the owner for 7.8 billion VND, equivalent to 135 million VND/m2.
Also introducing a "beauty queen" land plot in Dong Anh district with a price of 140 million VND/m2, Mr. Nguyen Xuan Quang (living in Mai Lam commune) said that the segment of land plots with clear legal status here has recently been sought after by investors.
According to Mr. Quang, the subdivided plots of land located near major roads, near ongoing traffic and real estate projects are increasing in price every month, and are even being raised in price by real estate brokers every month.
Dr. Nguyen Van Dinh - Vice President of Vietnam Real Estate Association (VNREA) - said that the land segment has escaped the bottom of price decline, gradually becoming a popular investment channel again. However, investors are only looking for auctioned land, subdivided plots of land, in areas with completed infrastructure, and prices that are not too high.
According to experts, the increase only occurs in some areas and not across the entire real estate market. The areas with increasing trends are all located in locations with previously planned projects that are currently being implemented.
From practice, Mr. Pham Duc Toan - CEO of EZ Real Estate Investment and Development Joint Stock Company (EZ Property) - analyzed that when the minimum area for land division is increased, investors will have to spend a lot of effort and capital to buy a large enough piece of land, leading to higher prices for land plots after being divided and subdivided.
Many real estate experts analyze that according to the 2023 Real Estate Business Law, the regulation on tightening the subdivision and sale of land plots in special, type I, II, and III urban areas from August 1, 2024 may reduce land trading activities in the short term, limit supply in the market, and push up the price of existing subdivided and separated land plots.
