The latest data from Batdongsan.com.vn shows that as of November 2024, the average selling price of land in Hanoi reached 70 million VND/m2, an increase of 32% compared to January 2023.
As of the third quarter of 2024, Hanoi's suburban land plots recorded the highest price fluctuations on the market.
For example, compared to the beginning of 2023, land in Dong Anh district increased by 53%, from an average price of 41 million VND/m2 to 63 million VND/m2.
Hoai Duc land increased by 81%, from an average price of 55 million VND/m2 in January 2023 to 100 million VND/m2 in September 2024.
According to Lao Dong reporters, in the land market of Hoai Duc district, the strongest increase belongs to land lots with business frontage, two-car roads in Van Canh, An Thuong, Di Trach, La Phu communes...
Accordingly, the price has increased from an average of 60-78 million VND/m2 at the beginning of 2024 to 69-85 million VND/m2 at present.
Business land, two-car road in Kim Chung commune, price increased from 83-95 million VND/m2 to 90-98 million VND/m2.
Land positions in villages, wide alleys, and car-passing roads in Duc Thuong, Dong La, and An Khanh communes have also increased in price from 25-45 million VND/m2 to 34-55 million VND/m2.
Notably, the land segment in Gia Lam district also recorded an increase in selling prices in the last months of 2024.
Compared to early 2024, the land price in Da Ton and Kieu Ky communes for cars has increased from 45-52 million VND/m2 to 48-55 million VND/m2.
Land on Co Bi business street, asking price increased from 85-95 million VND/m2 to 90-100 million VND/m2.
For land in Dan Phuong district, land located on Tan Lap street, the asking price is at 54-65 million VND/m2, an increase of 3-4 prices compared to before.
Service land in Tan Tay Do area also increased in price from 85-95 million VND/m2 to 90-102 million VND/m2 in prime locations.
Commenting on the land segment, Mr. Nguyen Quoc Anh - Deputy General Director of Batdongsan.com.vn - said that after the 2024 Land Law took effect, the land market had many major changes from supply to transaction activities, the land segment developed in a more positive direction.
Mr. Nguyen Quoc Anh predicts that from the second quarter of 2025, the Hanoi land segment in particular and the whole market in general will achieve better liquidity and be more vibrant.
Talking about the potential of land, Mr. Pham Duc Toan - General Director of EZ Real Estate Investment and Development Joint Stock Company - said that the land segment is not only valuable in preserving assets but also a form of long-term investment with little risk from economic fluctuations.
However, to achieve good profits, investors need to focus on areas with clear planning and potential for infrastructure development.
Currently, the liquidity of the land market is concentrated in projects with completed legal documents, red books or projects with good legal documents, synchronous traffic infrastructure, adjacent to residential areas, industrial parks, convenient connection to the city center. In the long term, the land segment will have good momentum in the real estate market.
