Speaking with Lao Động, Mr. Trần Văn Minh (in Tiền Phong Commune, Mê Linh District) stated that, despite being rural land, the price of land plots in Tiền Phong Commune has been increasing rapidly over the past few years. Currently, the price of land plots in this area has reached as high as 60 million VND per square meter in some places.
"The price of land plots in this area has been increasing to an unusually high level of 50-60 million VND per square meter, whereas at the end of 2023, it was only around 35-40 million VND per square meter."
Mr. Minh even mentioned that some people are willing to spend millions of VND to buy up land plots, waiting for the next price increase to cash in on their investment.
Surprised by the growing interest in land plots, Mr. Nguyễn Mạnh Cường (in An Khánh Commune, Hoài Đức District) stated that many land plots in the communes are being sold at prices ranging from 60-65 million VND per square meter, while land for services is being sold at over 100 million VND per square meter, comparable to the price of apartments in the city center.
However, according to the investigation by Lao Động reporters, despite the continuously increasing prices, there is still no specific data on the actual transactions of land plots in the outskirts of Hà Nội.
Earlier, many real estate experts had warned that it was possible that brokers and investors were driving up the price of land plots to make a profit, creating a speculative bubble.
According to statistics from the Batdongsan.com.vn website, from the beginning of 2024 to the present, the land plot market in the outskirts of Hà Nội has seen impressive indicators of interest and sales.
Specifically, compared to the same period in 2023, land plots in Thạch Thất District increased in price by 13%, with a 48% increase in interest; land plots in Đông Anh District increased in price by 24%, with a 104% increase in interest; land plots in Gia Lâm District increased in price by 4%, with a 95% increase in interest; land plots in Hoài Đức District increased in price by 19%, with a 79% increase in interest.
Mr. Nguyễn Văn Đính, Chairman of the Vietnam Association of Realtors (Vars), stated that the psychology of investors in the land plot market is becoming more positive, but people who need to buy this type of product should be cautious in their selection.
The expert noted that the phenomenon of price increases is currently occurring in a localized manner in the apartment, land plot, and land use rights markets in some areas.
However, in the context of the economy still facing difficulties, people's income is unstable, and the real estate market is increasing in price without a basis, this may be a sign of a speculative bubble, a bubble.
"In areas with little economic growth, land plot prices are increasing rapidly over a short period due to the impact of speculators, artificially inflating prices. This scenario is not new, but investors still need to be aware of the risks of speculative bubbles.
In addition, to avoid affecting the recovery process of the real estate market, developers need to adjust their selling prices to reasonable levels and strictly control the distribution channels" - Mr. Đính emphasized.
