Easy to buy but not easy to sell
Mr. Ha Tien Manh (character's name has been changed) is selling a 160 m2 plot of land in Xuan Huy commune, Lam Thao district, Phu Tho province for 1.35 billion VND. According to the introduction, this plot of land has increased in price compared to last year and is very easy to sell.
"The land market in Phu Tho is currently very hot, if you have money and are willing to invest, you will ensure a profit in the future, after merging provinces and cities. This land has increased in price since last year, liquidity is very high, and the location is beautiful. If you were quick, I would still have", Mr. Manh advertised.
Having spent money to buy land in the area near Hung Temple, Mr. Bui Tien Dung, 29 years old - a personal investor in Yen Thuy district, Hoa Binh province - said that the land he bought at the end of February 2025, after consulting information from brokers and social networks. But until now, despite actively selling, he has not found a buyer.
"The market is warming up, but there are not many real buyers. I use loans to invest, so I feel even more pressured. The land I bought is very difficult to resell at the desired price, liquidity is low, if I need to turn around money urgently, it will be almost impossible," Mr. Dung shared.
According to data from batdongsan.com.vn in March 2025 alone, when the merger policy was discussed, the level of interest and land search increased dramatically. Hanoi increased by 52%, Ho Chi Minh City increased by 31%, the remaining provinces increased by 54 - 140% compared to February. The land segment is also considered by brokerage firms to be the strongest growth in transactions in the first quarter.
The report of the Real Estate Brokers Association (Vars) also shows that in March, just a few weeks after the information about the proposal to merge provinces and cities, land prices in some localities were pushed up, some places up to 20 - 30%. However, in reality, the transaction volume recorded only growth in provinces and cities that are predicted to be the center of merger, with real estate prices not too high.
Looking back at the reality of the case of merging Hanoi - Ha Tay province, in the period of 2016 - 2025, many projects in the old Ha Tay were behind schedule or abandoned, raising questions about the sustainability of price increases.
Land investment needs to pay attention to liquidity
Mr. Nguyen The Diep - Member of the Vietnam Real Estate Association, Vice President of the Hanoi Real Estate Club - commented that the real estate market has been developing abnormally in recent times, with prices fluctuating strongly and showing many signs of fluctuations.
"Some places have skyrocketing land prices, but some areas have also plummeted. This development reflects the imbalance of the market, said Mr. Diep.
According to him, the root of the change comes from expectations after the merger of provinces. Localities become new administrative centers capable of attracting residents, investment resources and economic development and vice versa.
"The mentality of many investors for a long time is that land is always profitable. Therefore, in the current period, cash flow continues to flow into real estate, especially land. However, this is very worrying if the information is not verified, he emphasized.
Mr. Diep said that at present, it is not possible to confirm which areas will increase or decrease prices. If investors only follow rumors or are lured by attractive offers, the risk of falling into speculative traps is very high.
Many people only care about expected profits, forgetting that the most core thing about real estate is liquidity. Price increase is just one factor, and if investors cannot sell, they will be stuck in capital for a long time. That is the biggest risk, Mr. Diep analyzed.
