Talking to Lao Dong, Mr. Hoang Van Minh (39 years old, working in Hanoi) said that after many searches, he has just decided to buy a 95m2 plot of land in Dong Anh district at a price of 5.4 billion VND, equivalent to 57 million VND/m2 for long-term investment.
According to Mr. Minh, with about 5 billion VND, it is very difficult for his family to buy a house in a nice alley in the central district of Hanoi at this time. Meanwhile, if he goes to the suburban districts of Hanoi to buy land, Mr. Minh has many options, while the land segment here is still quite cheap and has high potential for price increase.
Ms. Nguyen Thi Le (60 years old, living in Hoai Duc district, Hanoi) informed that currently, many plots of land in the countryside of An Khanh and Van Canh communes are being offered for sale at prices ranging from 90-120 million VND/m2. Meanwhile, at the end of 2023, these plots of land only fluctuated around 70-110 million VND/m2, depending on the location.
However, Lao Dong reporters' research shows that although the selling price is continuously increasing, there is still no specific statistical data and analysis on actual transactions of land plots in suburban districts of Hanoi.
Previously, many real estate experts also warned that it is not impossible that brokers and investors will push up land prices to make a profit, creating a virtual fever.
PropertyGuru Vietnam's recent Q3/2024 real estate market data shows that the land market in the suburbs of Hanoi has significantly improved in terms of interest and transactions. However, this is still only a local improvement in some areas.
In some districts on the outskirts of Hanoi, compared to the first quarter of 2023, land prices have increased significantly. For example, land prices in Hoai Duc district have increased by 81%, from an average price of VND 55 million/m2 to VND 100 million/m2.
Land in Dong Anh district increased by 53%, from an average price of 41 million VND/m2 to 63 million VND/m2. Land in Thanh Oai increased by 90%, from an average price of 21 million VND/m2 to 40 million VND/m2.
Also noting the local price increase in some places, Mr. Le Dinh Chung - Member of the Market Working Group of the Vietnam Real Estate Brokers Association (Vars) - commented that from April 2024 to now, in addition to the suburbs of Hanoi, some surrounding provinces such as Bac Giang, Hung Yen, Bac Ninh, land prices have also increased by 10-20% compared to the bottom period, actual transactions have improved much compared to 2023.
Experts predict that the land market will only see positive signs in the second quarter of 2025. However, people who want to buy land at this time need to determine a long-term investment vision, avoid investing massively according to the crowd effect, and need to determine a medium-term capital recovery of at least 1-3 years, instead of short-term investment.
