Lao Dong's investigation shows that many service land lots in Hoai Duc district, Ha Dong district (Hanoi)... are being offered for sale by owners at prices exceeding 100 million VND/m2.
In Di Trach commune (Hoai Duc district), lots with 50m wide road frontage are offered for sale at 110-130 million VND/m2. Service land in Kim Chung commune, lots with 20m wide road frontage are offered for sale at 130-150 million VND/m2.
Notably, many service land lots with beautiful locations in Van Canh and Lai Yen communes (Hoai Duc district) have an area of 71.7 square meters but are priced at 8.6 billion VND, equivalent to 120 million VND/square meter, making many investors surprised.
In Ha Dong district, many service land lots are also offered for sale at record high prices.
For example, a 50m2 service land plot in Duong Noi ward (Ha Dong) is being sold by the owner for 10.9 billion VND, equivalent to about 218 million VND/m2.
In Yen Nghia ward (Ha Dong), a 50m2 plot of land is also being offered for VND8.8 billion, equivalent to VND176 million/m2. The owner of the plot of land here believes that with its favorable location, located near the university, traditional market, hospital... this plot of land still has the potential to increase in price in the future.
Mr. Nguyen Huu Cuong (living in Yen Nghia ward, Ha Dong district) shared that he was very surprised when the service land price here was offered from 100-150 million VND/m2, even some "beauty queen" land lots were being offered for sale at over 200 million VND/m2.
However, according to Mr. Cuong, the service land segment is also quite selective of buyers because of the high prices, leading to a rather modest number of successful transactions.
Investigation by Lao Dong reporters shows that although the price of service land for sale in Hoai Duc district, Ha Dong district (Hanoi) tends to increase, there is still no detailed statistical data on the number of actual transactions on the market.
A survey by the website PropertyGuru Vietnam also noted that from the beginning of 2024 until now, Hanoi service land (the type of land compensated by the State after reclaiming agricultural land from people to build projects) is showing a slight increase in selling price.
Mr. Nguyen Van Dinh - Chairman of the Vietnam Real Estate Brokers Association (Vars) - commented that some areas on the outskirts of Hanoi are experiencing a phenomenon of localized growth in transactions and then stagnation.
The market has seen more investors hunting for land and service land, waiting for prices to increase. Experts say that investors in land and service land in Hanoi at this time need to consider this as a long-term investment, and should not follow the crowd effect; they should be alert, prioritizing favorable locations as well as the potential of service land to make decisions.
