Talking to Lao Dong, Ms. Nguyen Thi Kieu (born in 1980, living in Thanh Xuan district, Hanoi) shared that since the beginning of 2024, she and her husband have intended to buy a service land plot in Hoai Duc district but were surprised because the selling price was too high.
According to Ms. Kieu, due to the completed infrastructure, many service land lots in Van Canh, Song Phuong (Hoai Duc district) are being offered for sale at over 100 million VND/m2, surprising many people who are looking to buy like her.
"Although we were satisfied, many service plots of land located in rural villages on the outskirts of Hanoi cost more than 100 million VND/m2, forcing my husband and I to put aside the above plan," said Ms. Kieu.
Similarly, Mr. Bui Van Nguyen - a long-time real estate investor in Hanoi - informed that the land and service land segment in suburban districts is being pushed up in price, but the rate of successful transactions at this time is not high.
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 spend money to buy land or service land, investors should evaluate their needs, choose products that are truly suitable for their financial capacity, and focus on added value instead of price increase. The change in investment mindset of customers is a factor that creates a change in the real estate market in a healthier and more positive direction in the future.
