Recently, land prices in the suburbs of Hanoi have increased sharply. Some suburban districts such as Dong Anh, Hoai Duc, Thanh Oai, Dan Phuong, etc. have recorded impressive growth. The effects of land auctions in the suburbs of Hanoi and the investment trend "following" the Ring Road 4, Ring Road 3.5 have created a "land fever" mentality.
Meanwhile, in provincial markets, liquidity remains difficult. Mr. Pham Duc Toan - General Director of EZ Real Estate Investment and Development Joint Stock Company - said that the Hanoi market is bustling with prices increasing dramatically in most segments. However, in the provinces, the real estate market is still quite quiet, with difficult liquidity.
According to Mr. Toan, some investors have begun to shift their investment trends to provinces and cities with good economic growth, synchronous infrastructure and relatively low prices. However, the majority still have a defensive mentality, so they do not make decisions to invest quickly. "From the second quarter of 2025, the real estate market in the provinces in general, and the land segment in particular, will achieve better liquidity and become more vibrant," Mr. Toan commented.
In the current market, many investors believe that Hanoi no longer has much potential for price increases, so they have begun to change direction, looking to neighboring provinces to buy real estate at low prices, expecting price increases in the future.
Mr. Hoang Tung - a real estate broker in Hanoi - said that recently, many customers have tended to move to neighboring markets of Hanoi such as Bac Ninh, Bac Giang, and Ha Nam.
“The prices in these areas are still quite low, so they have a lot of investment potential. In the coming time, these provinces will be strongly affected and benefit directly from the spreading heat of the Hanoi market,” said Mr. Tung.
Sharing about the trend of looking to neighboring provinces of Hanoi, Mr. Van Linh (Ba Dinh, Hanoi) - an experienced investor said: "In addition to Bac Ninh, Bac Giang, some provinces such as Hoa Binh, Hai Duong, Phu Tho are also being sought by many investors. Our group has been researching and surveying in these provinces for a while, and recently invested in Hoa Binh".
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, all of which were moving in a more positive direction.
Mr. Quoc Anh predicts that from the second quarter of 2025, when the market enters a period of recovery, the land segment will become active again. 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,” the expert commented.
