According to recent statistics from a real estate website, the average land price in the Northern market has increased from an average price of VND 27 million/m2 in the first quarter of 2021 to VND 46 million/m2 in the third quarter of 2024. Land in the suburban areas of Hanoi is recording the highest price fluctuations in the market.
According to the Vietnam Association of Realtors (VARS), land prices in Hanoi have been gradually stabilizing recently. Notably, land products under VND2 billion/plot in the suburbs of Hanoi with guaranteed legal status and completed infrastructure are attracting the attention of many investors.
Mr. Trinh Van Khiem (owner of a plot of land in Hoai Duc district, Hanoi) shared that because he had some idle money, his family just decided to buy a plot of land for 1.7 billion VND/plot in Van Canh commune.
After researching the apartment and house segments in the alley, Mr. Khiem decided to spend money to buy the above land plot with the aim of waiting for the price to increase over time. Because it is located far from the center of Hanoi, the land plots here have not increased in price too much, and are attracting the attention of many investors, who have placed deposits to buy.
Similarly, Mr. Tran Hoang (a long-time real estate broker in Hanoi) informed that the land segment in the suburbs of Hanoi under 2 billion VND/plot is attracting many people's attention because it is suitable for their income and finances.
Mr. Hoang compared that at present, it is very difficult to find an apartment priced at 2 billion VND in the inner city, so it is understandable that the suburban land segment with the same price is of interest.
Referring to this content, Mr. Le Dinh Chung - General Director of SGO Home - said that information from the district to the district, many super real estate projects are about to be implemented, the infrastructure system is being invested in, which has contributed to making the land and residential land segment in the suburbs of Hanoi bustling in recent times.
However, according to Mr. Le Dinh Chung, investors still need to be cautious, avoid being caught up in infrastructure planning information, virtual land fever in the context of the real estate market still in the recovery stage. In some places, there is even a phenomenon of groundless land price increases.
Speaking with Lao Dong, Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - commented that the land segment with a price range of 2-3 billion VND/plot is attracting attention.
According to experts, investors who intend to invest in buying and selling land in suburban districts of Hanoi need to determine that this is a long-term investment, should not follow the crowd, and should not prioritize the use of financial leverage to avoid the risk of burying capital.
