According to data from the Vietnam Association of Realtors (VARS), recently, land auctions with high winning prices have been taking place locally in some areas of Hanoi. This has affected and damaged the organization of local auctions when deposits are abandoned, auctions must be stopped and then reorganized.
Notably, the auctioned land segment has established a high price level, affecting supply and demand in the coming time. In the long term, it will have a negative impact on social security, as selling prices are pushed up, making it impossible for people to access land.
Vars experts also proposed solutions such as controlling land auctions, hiring valuation consultants and implementing a price determination process to make the starting price more appropriate, and considering raising the deposit level and deposit penalties.
From there, provide detailed regulations on behaviors considered to affect auctions along with specific penalties...
Mr. Nguyen Van Dinh - Chairman of the Vietnam Real Estate Brokers Association (Vars) - predicted that in 2025, investors will be more cautious. In particular, auctioned land in areas with transparent legal status and clear planning will continue to be sought after, with winning prices possibly increasing by about 10% compared to the starting price.
However, according to Mr. Dinh, the scarcity of clean land supply can lead to high prices, requiring close supervision from management agencies. To limit fluctuations in auction land prices, professional valuation organizations are needed to determine reasonable starting prices.
At the same time, experts believe that it is necessary to increase the deposit level, specify violations and apply strong penalties. Violating organizations and individuals may also be put on the list of restricted auction participants, along with regulations on the transfer time after winning the auction...
