According to the reporter of Lao Dong Newspaper, in the middle of February 2025, the real estate market in Hoa Binh City was bustling with countless advertisements on social networking sites, but in reality, the number of successful transactions was very limited.
Ms. Nguyen Minh Nguyet - a real estate broker in Hoa Binh City shared: "Since the Lunar New Year, the real estate market has had positive signals, especially in the land segment".
According to Ms. Nguyet, the number of interest and searches for real estate in Hoa Binh has increased significantly, especially in Hoa Binh City. However, in reality, successful transactions are rare, reflecting the stagnation of the market.
Land prices in Hoa Binh City are currently maintained at 33-40 million VND/m2, depending on each area. The central area of Dong Tien and Phuong Lam wards has prices ranging from 35-40 million VND/m2. Meanwhile, the left bank of Song Da, especially Huu Nghi ward, is recording prices from 33-38 million VND/m2 for land on main roads, while land in alleys only fluctuates from 15-18 million VND/m2", Ms. Nguyet informed.
Mr. Tien (an experienced real estate broker) said that the real estate market in Hoa Binh City is now stable, no longer the price fever situation as before. However, the number of successful transactions has decreased significantly. The main interested parties are investors or buyers who refer to and consider but then do not conduct transactions.
"In terms of land use value, land in Hoa Binh City is currently considered quite cheap compared to Hanoi. For example, the land price in Sudico Hoa Binh urban area is only about 37-38 million VND/m2, equivalent to the land price in Hoa Lac (Hanoi), although Sudico area has superior infrastructure and utilities, while land in Hoa Lac with neighboring roads is priced up to 40 million VND/m2, Mr. Tien assessed.
Ms. Nguyen Thi Thanh (Huu Nghi ward, Hoa Binh city) said: "Since mid-2024, land prices in Zen Village residential area have stabilized at 33-38 million VND/m2 depending on location and have not fluctuated significantly".
According to Ms. Thanh, the current buying and selling transactions are mainly negotiated and prepared in advance, not new transactions that have arisen recently.
Mr. Nguyen Quang Thu - Director of the Land Registration Office of Hoa Binh City said that in recent times and especially in early 2025, the transfer and sale of land in the city has been on a downward trend.
"Since the beginning of the year, the unit has mainly received documents on changes such as changing addresses, inheritance, and real estate transfer. New sales transaction records are quite rare, mostly related to projects" - Mr. Thu informed.
