The land plot market in Hanoi and surrounding areas is showing a different picture compared to the previous hot period. Price levels have continuously escalated for a long time, but at the beginning of this year, a cooling trend has appeared in many areas, in the context of slower transactions and cautious investment sentiment.
According to data from Batdongsan. com. vn, the average asking price for land plots in Hanoi in the first quarter of 2026 reached about 81 million VND/m2, a slight decrease compared to 82 million VND/m2 in the fourth quarter of 2025. However, this level is still significantly higher than the 75 million VND/m2 recorded at the beginning of 2025, showing that land prices after a strong upward cycle are still anchored in the highlands.
Real-world surveys show that in areas that were once the focus of land fever such as Dong Anh, Hoai Duc, Gia Lam or Long Bien, land plot prices simultaneously cooled down. In Long Bien (old), land plot prices were commonly around 60 - 135 million VND/m2, down about 2 - 6 million VND/m2 compared to the beginning of last year. Gia Lam (old) area recorded prices ranging from 40 - 90 million VND/m2, down about 1 - 4 million VND/m2.
In Dong Anh (old), the current price level is 35 - 80 million VND/m2, down about 2 - 6 million VND/m2; Hoai Duc (old) fluctuates from 45 - 90 million VND/m2, down about 1 - 5 million VND/m2. Meanwhile, in areas further from the center such as Dan Phuong, Thanh Oai or Thuong Tin (old), land plot prices are commonly 25 - 35 million VND/m2, down about 1 - 3 million VND/m2.
This development reflects the general trend of the market when transaction volume decreased sharply. Mr. Xuan Hung, a land broker in Hanoi, said that many land plots are being offered for sale for a long time but have not yet found buyers. The offering time is now significantly longer than before, showing that cash flow into this segment has slowed down significantly.
According to Mr. Hung, the general level of land plot prices in many suburban areas has begun to show a correction trend, but the decrease is still quite modest. The reason is that buyers are now more cautious, no longer easily spending money as in the previous period, while many investors still maintain high price expectations, not ready to deeply reduce to stimulate demand. The mismatch between supply and demand makes market liquidity continue to be low.
Data from the Ministry of Construction also shows that land plot prices developed according to projects on the secondary market in most localities in the first quarter of 2026 are basically stable compared to the previous quarter. Only some areas increased slightly such as Khanh Hoa about 2%, Da Nang and Dong Nai increased by over 1%.
In Hanoi alone, many areas still maintain quite high prices such as Melorita Hoa Lac about 24.1 million VND/m2; Thanh Ha Muong Thanh about 126.6 million VND/m2; Cienco 5 Me Linh urban area about 59 million VND/m2; Minh Giang Dam Va urban area about 30 million VND/m2.
Overall, Mr. Nguyen Quoc Anh - Deputy General Director of Batdongsan. com. vn assessed that the real estate market in early 2026 is shifting to a stable and more selective state. Prices are no longer hot but are starting to adjust, especially in speculative segments. Meanwhile, demand is still maintained but more cautious, focusing on products serving real customers and areas with clear economic foundations.
Sharing the same view, Mr. Nguyen Anh Que - Chairman of G6 Group said that investors need to be cautious and should only choose land plots with real housing and good business prospects. According to him, the price must be commensurate with the usable value and cash flow exploitation capacity, because in the past time many areas have been pushed up far beyond their actual value.
Mr. Que also noted that legal factors, planning and liquidity need to be put first, and short-term surfing should not be expected. From 2019 to now, the average land plot price has increased by about 50%, even higher in some places, so the possibility of increasing many times in the near future is not easy, except for areas with special appearances of large projects, new administrative centers, entertainment areas or large-scale industrial parks.
