The information of the province's merger has created a big boost for the real estate market, especially the land segment in the first months of 2025. This heat has helped land surpass apartments, becoming the most popular type on the market in previous quarters.
According to data from Batdongsan.com.vn, as of March 2025, the number of searches for land plots increased sharply in many provinces and cities after the merger. Compared to February 2025, interest in land in Hanoi increased by 52%, Ho Chi Minh City increased by 31%, Hung Yen increased by 36%, Thai Binh increased by 75%, Binh Duong increased by 49%, Ba Ria - Vung Tau increased by 42%, Quang Binh increased by 45% and Quang Tri increased by 8%...
However, the land fever only lasted for a short time, and the market has quickly cooled down.
An actual survey by Batdongsan.com.vn shows that land is stagnant widely. In Van Giang (Hung Yen), the asking price of plots of land in the roundabout area still fluctuates from 125-150 million VND/m2, but some plots have decreased slightly compared to April 2025. Many areas such as Phung Cong, Xuan Cao, and Jiuzhaigou maintain common prices of 40-55 million VND/m2, but transactions are quite quiet. Some landowners in need of money have reduced the price to 1-2 million VND/m2 but still have difficulty finding buyers.
In Hung Yen City, a plot of land on Luong Dinh Cua Street was advertised at 35 million VND/m2 in March 2025, but now it has decreased to 32 million VND/m2. The plots of land in Hien Nam ward have also decreased from 28-32 million VND/m2 to about 30 million VND/m2.
In Thai Binh, land in Hoang Dieu ward was once advertised for sale at 30 - 32 million VND/m2, now many landowners have adjusted it down to 29 - 30 million VND/m2.
Ms. Nguyen Mai Ly - owner of a plot of land in Vu Phuc ward - shared that if she accepts a reduction of about 10% compared to the price in March, she can sell it immediately. Before that, when the market was bustling after Tet, many people asked to buy but she did not sell because she expected the price to increase after the merger. However, currently, due to urgent need for money, she is forced to lower the price.
In Viet Tri (Phu Tho), a similar situation is happening. Land in Tho Son ward is being advertised for sale at 22-27 million VND/m2 but the actual transaction price is 1-2 prices lower. Van Phu area is currently being offered for sale at 18-21 million VND/m2, down from 19.5-22 million VND/m2 in March. Land in Minh Phuong has also been adjusted from 30-34 million VND/m2 to 29-32.5 million VND/m2.
Talking to Lao Dong, Dr. Tran Xuan Luong - Deputy Director of the Vietnam Institute for Real Estate Market Research and Evaluation - commented that when information about provincial mergers appeared, some speculative groups could take advantage to manipulate the market. They spread rumors about the new planning and administrative center to stimulate investor buying psychology.
Next, they conduct internal transactions to create a land fever effect, pushing prices up rapidly in a short time. As a result, land prices are pushed too far compared to their real value, causing many investors and buyers to be stuck.
A real estate market with real value often has high liquidity, when the buyer has enough finances to conduct transactions. Planning information of that area must be transparent, confirmed by the authorities, instead of being manipulated by rumors. In particular, transportation infrastructure, electricity, water and public utilities must also be completed, instead of relying only on planning plans on paper.
On the contrary, a virtual market has very clear signs. Land prices are pushed up but there are few real transactions. These areas often have a high rate of abandoned land, no commercial activities or lease. Infrastructure has not been developed synchronously, only relying on unclear planning projects.
Therefore, buyers need to calculate carefully before deciding to borrow for investment. In addition, before paying, it is necessary to carefully check the legality of the land plot to avoid the case of buying a disputed land or not having complete documents.
