According to Lao Dong reporters, although the service land segment has continuously increased in price recently, many owners of service land in the suburbs of Hanoi are still struggling to sell and find buyers.
Having posted an advertisement for a service land plot of 80 square meters in Hoai Duc district for sale for the past 3 months, Mr. Nguyen Viet An shared that to attract attention, he had to reduce the price of the service land plot by about 10-15%, but many customers who came to see it still shook their heads, thinking that this price was too high and wanted to reduce it further.
"My wife and I bought this plot of land at the end of 2023 for 6.7 billion VND. Due to financial difficulties, I agreed to reduce the price to sell it as quickly as possible. However, up to now, the plot of land has not found a buyer and closed the transaction" - Mr. An shook his head and said.
Ms. Pham Thi Hien (36 years old, employee of a service land brokerage company in Hoai Duc district) informed that recently, the land and service land segment in suburban areas is receiving attention from investors.
However, many owners, even though they want to sell and reduce prices to please customers, find it difficult to find buyers because the value of the land is quite high, and successful transactions at this time are still few.
Real estate market data for the third quarter of 2024 from Batdongsan.com.vn shows that the land market in Hanoi and Ho Chi Minh City is improving significantly in terms of interest and transactions. However, this is still only a local improvement in some areas, especially the northern provinces.
A survey by the website PropertyGuru Vietnam from the beginning of 2024 to present shows that Hanoi service land (the type of land compensated by the State after reclaiming agricultural land from people to build projects) is showing an increasing trend in selling price.
Accordingly, the service land area in Van Canh commune (Hoai Duc district), located on the main road, is having its asking price increased from 130 million VND/m2 to 133-136 million VND/m2. The service land area of Van Canh, 4.5ha, with an 11m wide road, has also increased its selling price from 85-95 million VND/m2 to 88-97 million VND/m2.
Service land in Lai Yen commune (Hoai Duc district) also tends to increase slightly in price compared to the beginning of 2024. For lots of 36m road, land prices increased from 90-95 million VND/m2 to 91.5-97 million VND/m2. Service land on double road 40m2, the asking price increased from 120-140 million VND/m2 to 123-145 million VND/m2.
Many real estate experts recommend that during this period, many customers participating in the market should not have a speculative mentality but should invest with a long-term vision. In addition, they should not use financial leverage and avoid investing according to the crowd effect.
Before deciding to pay to buy land or service land, investors should evaluate their needs, choose products that truly suit their financial capabilities, and focus on added value instead of price increase rate.
