The survey results of the Batdongsan website in the first 11 months of 2024 show that the demand for buying land plots nationwide recorded a strong recovery. In October 2024 alone, the number of searches for land plots increased by 14% compared to the previous month and increased by 29% compared to the same period in 2023.
In the North, Hanoi continues to be the focus when the number of land plots for sale unexpectedly increased by nearly 40% in October 2024, surpassing private houses and apartments.
Positive developments in the land market in the provinces are also creating momentum for many investors, especially "speculators" with cash flow, to return to potential areas.
Big players are rushing back to potential areas, causing the land market to continuously heat up.
For example, since the beginning of October, Mr. Hoang Duc Nha (in Hanoi) - a "big guy" specializing in garden soil - said he has started going to many provinces such as Ha Nam, Bac Ninh, Ninh Binh... to see the goods.
Mr. Nha's priority is areas with beautiful locations, prices ranging from 800 million VND to about 2 billion VND, with guaranteed legal status, located along inter-commune roads.
By the end of last week, Mr. Nha had paid 1.8 billion VND for a plot of land in Bac Ninh. This plot of land was previously listed for sale at 2 billion VND. This is the third plot of land that Mr. Nha has bought in just over a month.
“I expect the impact of the new land price list, many areas have doubled or tripled, will help push up land prices. Realizing that I cannot win quickly like before, I will expand my vision to at least 2-3 years to make a big profit,” said Mr. Nha.
Similarly, Mr. Duy Quang - a prominent investor in Hanoi - said that in recent times, despite the tightening of land subdivision and sale, land is still one of the most lucrative segments for speculators. The losers are usually inexperienced investors.
“The development of infrastructure and population growth are the foundation for real estate, especially land, to have room for strong price increases, and liquidity will recover in the near future. However, land investment is currently shifting from short-term to medium- and long-term,” Mr. Quang analyzed.
Many investors also shared that cheap suburban land plots in the price range of 1.5-2 billion VND are the segment that is especially sought after by real estate investors and businesses.
It can be seen that investors are rushing back to the land market when realizing the potential for price increases in this segment.
Sharing about this issue, real estate expert Tran Xuan Luong - National Economics University - said that according to forecasts, the regulation prohibiting the subdivision and sale of land will cause a shortage of land supply in Hanoi, Ho Chi Minh City and even in central urban areas of the outlying provinces.
In addition, in the context of the early application of the 2024 Land Law, the land price list will be adjusted upward along with anti-speculation regulations, which will increase costs and reduce supply in the market. This could push up land prices sharply in the coming months.
Some real estate experts say that "land is still king". Investors who have money or use low financial leverage can consider investing. However, investors need to be careful when buying land based on planning information because the price is high, the profit is low and slow.
