68 plots of land in Lane Ba Area, Thanh Than Village, Thanh Cao Commune (Thanh Oai District, Hanoi City) have just been successfully auctioned. Worth mentioning, according to Lao Dong reporter, many land plots winning high bids were immediately resold with a price difference of 200 - 500 million VND.
For example, land lot Lk05-5 has an area of 85m2 with a winning price of nearly 55 million VND/m2, equivalent to more than 4.6 billion VND, and is offered for sale with an additional 500 million VND difference. This plot of land in the group has a lower winning price than other plots of land in the same area.
Or like lot LK01-4, area 85m2, starting price of 955 million VND, winning auction result of 7.2 billion VND (84.7 million/m2), being offered for sale with a difference of 500 million VND. That means, if lot LK01-4 is successfully transferred, the total value of the land lot to the buyer is 7.7 billion VND (90 million/m2).
Similar to lot LK03-9 with a starting price of 955 million VND, the winning price is 6.9 billion VND (81.8 million/m2), the winning bidder is offering a difference of 500 million VND, if the transaction Successfully, the land plot reached the right owner for 7.4 billion VND (87 million/m2).
Mr. Ha Van Giang - a real estate investor with many years of experience in Hanoi - said that in the recent Thanh Oai land auction , many auction winners immediately changed hands with a price difference of several hundred million dong. However, there are also some cases where after achieving the goal of creating a higher winning price level with surrounding land prices, they will change hands at the same price, even "cutting losses" immediately to gauge market demand.
"Land auctions are mainly a game for investors and speculators. Therefore, the tricks used are only for the purpose of making a profit. Many groups of land huggers will go through regional auctions to push the price to create a higher level. If the winning land plots cannot be sold soon, many people will give up their deposit" - Mr. Giang said.
Meanwhile, according to the reporter's research, land prices in the district area during the land fever in 2021 were only listed for sale at 30 - 45 million VND/m2, much lower than the winning auction price. Since then, land prices have dropped sharply, mainly at 20 - 30 million VND/m2, some better locations are only up to 40 million VND/m2, but transactions are limited.
"I think the land price is too fake. Looking at the location and current situation around the land, the highest winning price is only 60 million VND/m2, which is higher than the real value.
With the winning price mainly ranging from 80 - 90 million VND/m2, if the landowner does not transfer soon, they may have to hold the land for the next few years and easily face a situation of cutting losses in the future" - Ms. Hong Khanh, an employee broker at Thanh Oai shared.
Besides, according to Property Guru Vietnam's price history statistics through sale ads, land prices in Thanh Cao and Thanh Oai communes tend to go up. In the fourth quarter of 2023, the average price is 18.5 million/m2 (14-23 million/m2); the first quarter of 2024 increases to 23 million/m2 (ranges from 14-32 million/m2); The second quarter of 2024 is 28.5 million/m2 (18-39 million/m2).
However, comparing the above auction winning price with the land price being offered for sale on the market in Thanh Cao commune, Thanh Oai shows that the land auction winning price is unusually high, 4 times higher than the average level.
Financial expert, Associate Professor, Dr. Dinh Trong Thinh said that the winning auction price of up to 100 million VND/m2 reflected the "heat" of the land auction market in suburban districts of Hanoi. However, in terms of value, the price is too high because the social infrastructure around the auction area is limited.
