Market data of Batdongsan.com.vn in the first quarter of 2024 recorded the improvement of the land segment after Tet. In Hanoi, both the level of interest and land prices recorded significant growth. In March 2025 alone, the level of interest in land in Hanoi increased by 52% compared to the previous month. Compared to January 2023, land prices in the capital also increased by 42% in March 2025.
Notably, land in suburban areas of Hanoi is attracting special attention from buyers.
Arterial roads such as Thang Long Boulevard, Lang - Hoa Lac highway, Highway 21, Provincial Road 412B are shortening the movement distance from Quoc Oai to the central area. In addition to connecting the central and inter -regional, the trade process between Quoc Oai and other areas is also promoted. This has created a great resilience for the real estate market, creating a craze for the price of the land market in the past time.
In the first two months of 2025, land asking prices in suburban areas of Hanoi will increase by 30 - 80%, depending on the area. Of which, Quoc Oai district is the place with the most outstanding increase with an amplitude of up to 74%.
The excitement of the land market in Quoc Oai spreads to many areas, including both residential land and auctioned land. For example, in the area near Thang Long Avenue in Ngoc My Commune, land prices among people increased from 40 - 45 million VND/m2 to 52 - 60 million VND/m2. In Ngoc Liep commune, bordering Ngoc My, plots of land near Thang Long Avenue have also increased from 40 - 43 million VND/m2 to about 45 - 52 million VND/m2.
Along Provincial Road 421B, where there are nearby two major medical facilities, the Central Obstetrics Hospital, Facility 2 and the National Children's Hospital, Facility 2, land prices also recorded strong fluctuations. Here, the price has increased from 60 - 70 million VND/m2 to 68 - 85 million VND/m2. Some plots of land in Ngoc My village, near the above hospitals, are currently being offered for sale at 25 - 30 million VND/m2, significantly higher than the 20 - 24 million VND/m2 price in the same period last year.
In the auctioned land segment, the market recorded a record high winning price. In the land auction in early April 2025 in Ngoc My commune, 35 plots of land with an area of 75 to 142.9m2, with a starting price of 8.3 million VND/m2, recorded the highest winning price of up to 119.3 million VND/m2, the lowest was 35.3 million VND/m2.
Previously, in March 2025, the auction of 26 plots of land in Yen Quan village, Hung Dao commune, with a starting price of more than 5 million VND/m2, also recorded the highest winning price of 104 million VND/m2 and the lowest was 62 million VND/m2.
Talking to Lao Dong, Mr. Le Duc Son (real estate broker in Hanoi) said that the price increase of Quoc Oai land is following the general growth direction of the land market. Although land prices in Quoc Oai have recorded a significant increase, most of them have only stopped at the selling level, while the actual transaction volume is not much.
Ms. Pham Thi Mien - Deputy Director of the Vietnam Institute for Real Estate Market Research and Evaluation - said that in the first months of 2025, the actual transaction volume and transaction prices were only recorded to increase in plots of land with reasonable investment value, usually below 2 billion VND, with legal guarantees in areas with infrastructure under implementation or in low-rise products in large urban projects around the area that have been invested in infrastructure and have full utility services.
