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 a slight increase in selling price.
Accordingly, service land in Van Canh commune (Hoai Duc district) located on the main road frontage, is being offered for sale at an increased price from 130 million VND/m2 to 133-136 million VND/m2. Service land in Van Canh area of 4.5 hectares, with an 11m wide road, is also being offered for sale at an increased 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.
Ms. Trinh Thi Nguyet (living in a 6.9ha service land plot in Van Canh commune, Hoai Duc district) shared that in 2021, her family bought a 70m2 service land plot for 78 million VND/m2. However, currently, the population is increasing, the price of service land is currently being advertised for sale from 100-150 million VND/m2, depending on the location.
"After 4-5 years of living here, the price of the service land my family owns has nearly doubled compared to 2021. Many investors have come here to buy land and build houses but have not put them into use yet," said Ms. Nguyet.
Referring to this content, Mr. Tran Hoang (a real estate broker in Hanoi) informed that many investors are interested in real estate products, especially land and service land in areas with planning information, implementing infrastructure investment and projects such as Hoai Duc district.
Since the beginning of 2024, service land prices in Hoai Duc district have tended to increase by 5-10% after a long period of gloom.
Statistics on the real estate consumer sentiment index (CSS) of the Batdongsan website in the first half of 2024 show that, out of 1,000 survey participants, 65% said they would continue to buy real estate in 2024.
Notably, of the 65% of people who will continue to buy real estate in 2024, about 1/3 of them are interested in land.
Referring to this content, Mr. Vo Hong Thang - Director of consulting and project development services DKRA Group - assessed that land and service land are still sustainable investment channels, and the attraction for investors will hardly decrease.
According to Mr. Vo Hong Thang, Vietnamese people often prefer houses attached to land, land plots, and service land, which are considered safe channels for accumulating assets and generating high profits.
Experts believe that the first half of 2024 can be seen as the beginning of a new cycle of recovery and growth in the real estate market. Investors who want to buy land and service land at this time need to carefully study the legal aspects, land use rights certificates, utilities, etc. to avoid future risks.
