The land market, especially in the suburbs of Hanoi and neighboring provinces, is recording many notable developments. In particular, the small-scale land segment witnessed a significant price increase.
A survey of the land market in Dong Anh, Hoai Duc, Gia Lam, along the Ring Road 4 route, as well as neighboring localities such as Thach That, Quoc Oai, Thanh Tri, shows that plots of land with an area of 40-60m2 are being offered for sale at prices increased by 15-30% over the same period last year. In Dong Anh, some plots of land in small alleys, with an area of about 45-50m2, were previously priced at 40 million VND/m2, but now have increased to 50-55 million VND/m2. In Hoai Duc area, especially near major roads, land prices for small areas have also increased from 35 million VND/m2 to 45 million VND/m2. In Gia Lam, 40-60m2 plots of land near large projects recorded prices from VND50 million/m2 to VND60 million/m2.
Not only in suburban districts with high urbanization rates such as Dong Anh, Hoai Duc, Gia Lam, but even in remote areas such as Quoc Oai, Thach That, prices have increased significantly. Many small plots of land, previously priced from 18-22 million VND/m2, have now increased to 25-30 million VND/m2, attracting the attention of many investors. In Thanh Tri, especially in areas near expanded roads, small land prices also increased from 45 million VND/m2 to more than 55 million VND/m2, depending on the location.
Mr. Nguyen Van Hung, a real estate investor in Hanoi, shared: "Previously, I used to buy large plots of land for long-term investment, but recently I have switched to small plots of land because of higher liquidity. This has caused the price of this segment to increase significantly, because the demand for buying small-scale land is increasing".
Similarly, Ms. Tran Thi Mai, another investor, said that small plots of land are always a suitable choice for people with moderate finances. However, the demand for this type is increasing, causing prices to continuously increase recently. "I had to accept buying at a higher price than expected to be able to own a suitable plot of land, because if I hesitated, the price could increase further" Ms. Mai shared.
From a broker's perspective, Mr. Pham Van Tuan commented: "The small-scale land market is heating up rapidly, the number of transactions has increased sharply in the past two months. The plots of land with an area of 40-50m2, previously slow to trade, now almost everyone asks to buy right when they are being sold. However, the rapid price increase has also made some investors more cautious, waiting to see if there is an adjustment or not".
Commenting on the current real estate market, Mr. Nguyen Van Dinh - Chairman of the Vietnam Real Estate Brokers Association - said that land plots priced at 1-2 billion VND/plot in some northern provinces have increased sharply. In particular, in some suburban areas of Hanoi, there are signs of local fever, prices have increased significantly compared to the beginning of 2024.
With limited supply of small areas of land and high demand, this segment is likely to continue to record an increase in prices in the coming time. However, investors need to be cautious about price fevers, avoid following the crowd psychology and buying at too high a price, which poses a potential risk of liquidity in the future.
