In the last months of 2024, the Hanoi land market began to stir with transactions again. Typically, in some hot spots in Thanh Oai, Hoai Duc, Dong Anh districts..., the selling price of many plots of land exceeded 120-160 million VND/m2.
Investigation by Lao Dong reporters shows that the land market in hot spots such as Thanh Oai, Hoai Duc, Ha Dong, Dong Anh, Soc Son... has begun to see transactions again with higher frequency, although the selling price has not changed dramatically.
Ms. Bui Thi Lan (34 years old) - an employee of a real estate trading floor in Hoai Duc - said that in the third quarter and the first half of the fourth quarter of 2024, the unit had many land transactions. The number of these transactions was even half of that of 2023.
In general, after a long period of decline with an average price reduction of 5-15%. Up to now, Hoai Duc land, with the impact of the auction fever, has increased again, an average increase of 10-15% compared to 1 year ago.
According to Ms. Lan, land prices in areas near the center have increased and are at a high level. "Currently, customers with 3-4 billion VND in hand have almost no opportunity to invest in land in areas near the center of Hanoi" - Ms. Lan added.
This broker gave an example of a 50 m2 service land plot in An Tho, An Khanh commune, Hoai Duc district, which is being advertised for sale at 140 million VND/m2. Meanwhile, plots of land with good locations in districts such as Bac Tu Liem, Thanh Xuan, and Ha Dong are usually priced at 180-230 million VND/m2.
From an expert perspective, Mr. Nguyen Quoc Anh - Deputy General Director of PropertyGuru Vietnam - assessed that land is always the focus of investment when the real estate market is bustling, especially in areas with potential for economic development and convenient traffic infrastructure.
After nearly 2 years of land going through a period of stagnation when transactions and interest cooled down, in 2024, this segment has improved.
Statistics from the Ministry of Construction also show a strong increase in the number of well-planned land projects. Most of the new projects launched in the third quarter of 2024 are in favorable locations, located in areas with strong investment in infrastructure, with relatively high asking prices.
Actual developments show that the land market has significantly improved in terms of interest and transactions. However, according to experts, this is still only a partial improvement in some areas, especially the northern provinces.
Investors who have capital or use low financial leverage can consider investing. However, investors need to be careful when buying land according to planning information because the price is high, the profit is low and slow.
