According to data from Batdongsan.com.vn, from the beginning of 2024 to May 2025, land prices in provinces bordering Hanoi recorded a significant increase. Leading was Hoa Binh with an increase of 67%, followed by Hung Yen with an increase of 59%, Vinh Phuc with an increase of 47% and Bac Giang with an increase of 39%. These are all localities with increasingly complete connecting infrastructure, large land funds, and prices that are still easily accessible compared to the central area of the capital.
Although the market shows signs of cooling down after March 2025 - the time considered the peak of the wave of land investment, the price level in these localities remains stable. Hoa Binh and Hung Yen kept prices unchanged from the peak in March, while Vinh Phuc still increased by 14%. Bac Giang is the only locality that has adjusted slightly, down 7% compared to the peak but still much higher than at the beginning of last year.
In terms of interest, after a heating up cycle, interest in land in the Northern region shows signs of slowing down in April and May. Partly due to the impact of the long holiday, the mentality of waiting for new policies on taxes, planning and administrative mergers. Bac Ninh and Quang Ninh recorded a slight increase in interest, but most other localities have moved sideways or decreased slightly compared to April.
Although prices are still high, interest in land in many localities has decreased in May 2025. Hanoi decreased the most, up to 15% compared to the previous month, while the whole North decreased by 5%.
Mr. Tran Van Lam, a land investor in Hanoi, said that he has temporarily stopped looking to buy land in the suburbs after a strong price increase in the first quarter of 2025. I have considered paying in Hoa Binh and Bac Giang, but the price level is now 5060% higher than at the beginning of last year. With such a rapid increase, I am afraid the market is approaching the peak. If investing at this time, the risk of being stuck is huge, especially when liquidity is showing signs of stagnation," said Mr. Lam.
Ms. Nguyen Thuy Duong, a personal investor owning a plot of land in Hung Yen, also shared a cautious view. "I no longer have the mentality of buying quickly or I will make mistakes like before. In the recent period, the market has been pushed up rapidly, many areas have not completed infrastructure but the selling price has increased ahead of expectations. I am waiting for a clearer correction before reinvesting, said Ms. Duong.
Meanwhile, Mr. Pham Trung Kien - a real estate broker in Vinh Phuc area assessed that the land market is currently entering a period of struggle between expectations and reality. "Many customers ask but pay very little. The general mentality is the fear of buying at the peak, because the price has been pushed up quite high, while the supporting information is not really new. Some investors are starting to shift to apartments or deposit savings to wait for a safer time, Mr. Kien shared.
However, land prices in provinces on the outskirts of Hanoi have not fluctuated much, showing that real demand and the psychology of holding assets still exist in the group of long-term investors. In addition, the increase in interest in apartments in Hanoi and neighboring provinces also shows the trend of shifting to a segment with more liquidity and stable cash flow.
