Recent statistics from the Batdongsan website show that in Hanoi, the number of investors looking for land in the Ring Road 4 area in the fourth quarter of 2024 tends to increase by about 30% compared to previous quarters.
Accordingly, in areas where Ring Road 4 passes through such as Soc Son, Me Linh, Thanh Oai, Dan Phuong districts, depending on the area, the transaction volume increased from 10-20% compared to the months of the third quarter.
According to Batdongsan, in the period 2018-2022 alone, residential land is the type of real estate with the strongest price increase in Ha Dong district, Hanoi, reaching an average of up to 25%/year.
Meanwhile, in Ho Chi Minh City, after a long period of silence, land plots have begun to become active again. The number of searches for land plots in Ho Chi Minh City increased by 16%, and the number of ads for sale increased by 22% compared to the previous month. Land plots in neighboring provinces such as Ba Ria - Vung Tau, Long An, Dong Nai, and Binh Duong also had quite positive developments when the number of searches for land plots increased by 20%, 14%, 5%, and 9%, respectively...
Mr. Le Bao Long - Strategy Director of Batdongsan website - predicts that real estate prices will continue to increase after 2025. Notably, the land segment will be the most affected type, with an increasing trend because it is also affected by the regulation prohibiting the subdivision and sale of land in 105 cities and towns.
Commenting on the apartment segment, Mr. Vo Huynh Tuan Kiet - Director of CBRE Vietnam's housing marketing department - said that in the fourth quarter of 2024, the primary selling price of apartments in Hanoi reached an average of 72 million VND/m2, an increase of 36% over the same period last year and 12% over the third quarter of 2024.
According to Mr. Vo Huynh Tuan Kiet, this increase makes it difficult for many first-time home buyers, especially young families, to access the market.
This means that with 3-4 billion VND, home buyers do not have many options, they can only own a modest apartment, used for many years, or have to accept a location far from the center. Therefore, many first-time home buyers, after a long time of searching, have had to suspend their plans because the price is beyond their financial capacity.
Sharing about the market outlook in 2025, Mr. Nguyen Van Dinh - Vice President of Vietnam Real Estate Association (VNREA) - said that 2025 will be the first year that the market supply will be removed but not completely, the opportunity belongs to projects that ensure sufficient conditions in terms of legal regulations and good investor capacity. Thereby, the market will balance supply and demand, and will be more stable.
From now until the end of 2025, the provisions of the new law have not been fully applied, there is still overlap with the old policy, so there is flexibility in calculating land prices.
