Recently, as the real estate market has gradually changed positively, the land segment in the suburbs of Hanoi has also heated up with prices increasing sharply in many areas. Meanwhile, other areas are still quite quiet, especially in Ho Chi Minh City, the land market has not grown, and prices even tend to decrease.
In Hanoi, from the third quarter of 2024 to present, the market has witnessed land auctions in the suburbs of Hanoi with thousands of applications participating each session and winning prices dozens of times higher than the starting price. Experts say that there are signs of "price inflation", creating a "virtual fever" when the situation of deposit cancellation after auction continuously occurs. However, it is undeniable that interest in this type has increased, creating heat for the market.
According to a survey by Lao Dong Newspaper reporters, in Dong Anh district, many plots of land in communes such as Hai Boi, Vinh Ngoc... have recently been advertised by owners at prices exceeding 100-150 million VND/m2. These communes were also the focus of previous land "fever" thanks to the benefits from large real estate projects that are about to be built and infrastructure completed.
In Dan Phuong district, land in some areas such as Tan Lap and Tan Hoi streets is currently being sold for around VND55-65 million/m2, an increase of about 20% compared to the beginning of the year. In Hoai Duc district, land prices in alleys in Duc Thuong, Duong Lieu, and Tien Yen areas are at VND50-60 million/m2, an increase of 20-30% compared to the beginning of the year.
Notably, in the last months of the year, land prices in some suburban districts, where the Ring Road 4 project runs through, have increased sharply. According to a survey by PropertyGuru Vietnam, land prices around Ring Road 4 are showing a clear upward trend. Compared to half a year ago, land prices in Me Linh in some urban areas such as Ha Phong, Cienco 5... have increased from 45 - 55 million VND/m2 to 55 - 64 million VND/m2.
Although the land market has not yet become active again, this segment is showing impressive growth. Compared to the first quarter of 2023, land prices in the third quarter of 2024 in Dong Anh district increased from 41 million VND/m2 to 63 million VND/m2 (up 53%), land prices in Hoai Duc district increased on average from 55 million VND/m2 to 100 million VND/m2 (up 81%), the strongest increase was in Thanh Oai district, from 21 million VND/m2 to 40 million VND/m2 (up 90%).
Commenting on the land segment, Mr. Nguyen Quoc Anh - Deputy General Director of PropertyGuru Vietnam - said that after the 2024 Land Law took effect, the land market had many major changes from supply to transaction activities. The land segment developed in a more positive direction.
Mr. Quoc Anh predicts that from the second quarter of 2025, the Hanoi land segment in particular and the whole market in general will achieve better liquidity and be more vibrant. Land, along with project villas, will lead the market.
“From the first quarter of 2026 to the fourth quarter of 2026, this will be the time when the market enters a stable orbit. Prices and liquidity will increase in various types. This can be considered the best prospect of the market, after a long period of stagnation,” said Mr. Quoc Anh.
Meanwhile, Mr. Nguyen Anh Que, Chairman of G6 Group, Member of the Executive Committee of the Vietnam Real Estate Association, said that the Hanoi real estate market will remain flat until the end of 2025, and may increase slightly in the land and housing segments in early 2026.
