According to Lao Dong reporters, land prices in Dong Anh, Quoc Oai, and Hoai Duc districts (Hanoi) have recently been on a strong upward trend following news of upcoming district upgrades, urban area projects, Ring Road 4, and the $4.2 billion smart city project announced for implementation...
Mr. Nguyen Van Ba (45 years old, living in Vinh Ngoc commune, Dong Anh district) said that since the news that Dong Anh district was preparing to become a district, many investors have traveled here to buy land in Uy No and Hai Boi communes at prices ranging from 70-120 million VND/m2 to wait for future price increases.
Mr. Ba said that even some plots of land in Phuong Trach village (Vinh Ngoc commune) adjacent to the smart city project, after many times of buying and selling, are being raised in price by the owner to 100-150 million VND/m2.
Not only in Dong Anh district, the land segment in Hoai Duc district (Hanoi) has also increased rapidly in recent times, attracting the attention of many investors.
According to a survey by Lao Dong reporters, many plots of land in Van Canh, An Khanh, Song Phuong communes... are being offered by owners for 100-150 million VND/m2. Meanwhile, in early 2024, the land segment here was only offered for sale at 80-100 million VND/m2.
However, according to Lao Dong reporter's research, although the price of land for sale in Dong Anh and Hoai Duc districts (Hanoi) tends to increase, there is still no detailed statistical data on the number of actual transactions on the market.
Previously, many real estate investment organizations noted that, with the fluctuation of land prices for sale on the market continuously increasing, it is not excluded that real estate brokers and sellers are trying to push up prices.
A recent study from Batdongsan.com.vn also shows that more than 86% of investors buy real estate to make a profit, holding the property for less than a year before selling it.
Of which, the percentage of investors holding real estate for less than 3 months is 15%, from 3-6 months is about 35%, from 6-12 months is about 36% and only 14% hold assets for more than 1 year.
Talking to Lao Dong, Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - informed that, in fact, land prices in Dong Anh and Hoai Duc districts have increased too sharply recently due to continuous information about the district becoming a district, many super real estate projects are being implemented, and infrastructure is receiving investment attention.
Mr. Diep said that investors who intend to invest capital, buy and sell land in suburban districts of Hanoi, and follow the project need to determine that this is a long-term investment and should not prioritize the use of financial leverage.
Experts advise that currently, major planning and projects here are still in the process of implementation, the connecting traffic infrastructure is still incomplete, investors need to research carefully, buy products with legal guarantees, and red books in hand to minimize future risks.
