According to the report for the first 6 months of 2024 of the Department of Housing and Real Estate Market Management (Ministry of Construction), the land segment is currently more bustling with up to 253,000 transactions carried out, an increase of more than 10% compared to with the same period last year.
The improved level of interest and vibrant transactions have caused land prices to record an increasing trend in some areas. Besides apartments, land has also become one of the prominent highlights in the real estate market picture in the first 6 months of the year and is progressing faster than previous forecasts.
According to Batdongsan.com.vn, the level of interest in land in the first half of 2024 is on the road to recovery after hitting bottom in 2023. The level of interest in land increased by an average of 33%. Among them, Dong Anh district has the strongest increase in interest with 104%, followed by Quoc Oai 101%, Gia Lam 95%, Hoai Duc 79%, Thach That 48%.
The sharp increase in interest pushed up selling prices as: Dong Anh recorded the strongest increase with 24%, followed by Quoc Oai 20%, Hoai Duc increased 19%, Thach That increased 13% and Gia Lam increased 4%. .
According to Lao Dong reporter's research, the land segment in some areas of Hanoi is being traded more actively than before.
Mr. Tran Tien Dung shared that because he needed money urgently, he was posting an advertisement for a plot of land in Thach That district for 1.6 billion VND/lot. After a week of selling, the 80m2 plot of land went to a new owner.
Similarly, Ms. Nguyen Thi Lan (in Thach That district) informed that her family has just successfully transferred a 100m2 plot of land for 2.1 billion VND in Thach Hoa commune to an investor in Hanoi to build a boarding house. business.
According to Ms. Lan, even though it is located about 30 - 40km far from the center of Hanoi, many land lots here are still interested and have deposits to buy.
Ms. Pham Thi Mien - Deputy Head of the Market Research and Investment Consulting and Promotion Department of the Vietnam Association of Real Estate Brokers (VARS) - said that the land market in planning hot spots such as Dong Anh, Gia Lam, or the areas surrounding Ring Road 4, still receive investor attention. Currently, land prices in these areas are gradually stabilizing with only slight increases.
Besides, the expert from VARS still believes that land is a segment worth investing in in the future. In particular, the residential land product line with a price range of 2 - 3 billion VND has very good liquidity.
Talking about the reason why land plots are vibrant again, Ms. Mien said it is because apartment prices have increased too high and the supply is scarce. In addition, based on positive developments such as three important land-related laws coming into effect, experts believe that land will continue to recover well and develop further.
Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - also said that the land market will have big fluctuations after the new Law takes effect. Subdivided land projects in grade II and III urban areas that have been implemented and sold (with red books) can still be transferred normally and can even enjoy price benefits.
New projects and spontaneous, fragmented projects are difficult to implement or no longer exist, making land supply scarce. The relationship between supply and demand causes the prices of these products to increase rather than decrease.
“Although land plots will increase in the coming time, it is difficult for a virtual fever to occur. The land market will be more sustainable and stable" - Mr. Diep emphasized.
