Talking to Lao Dong, Mr. Nguyen Ngoc Minh (working in Hanoi) said that after many searches, at the end of 2024, his family decided to pay to buy a service land plot of 7.5 billion VND, 60 m2 wide, equivalent to 126 million VND/m2 in Van Canh commune (Hoai Duc district).
Mr. Minh shared that he was quite surprised when the suburban service land segment has continuously increased in price in recent times. Because his work is mainly in the inner city of Hanoi, when buying service land in the suburban district, his family considered this a safe store of property, waiting for the price to increase over time.
Research by Lao Dong reporters shows that many service land plots in Hoai Duc district (Hanoi)... are being offered for sale by owners at prices exceeding 100 million VND/m2.
In Di Trach commune (Hoai Duc district), plots of land with an area of about 50m2 on the road, with asking prices ranging from 110-130 million VND/m2. Service land in Kim Chung commune, many plots of land on the road have asking prices from 130-150 million VND/m2.
Many service land plots with beautiful locations in Van Canh and Lai Yen communes (Hoai Duc district) have an area of 71.7 m2 but have a selling price of 8.6 billion VND, equivalent to 120 million VND/m2, which surprised investors.
A survey by the website PropertyGuru Vietnam also shows that from 2024 to now, Hanoi service land (a type of land compensated by the State after reclaiming agricultural land from people to build projects) is showing an increasing trend in selling prices.
Mr. Nguyen Van Dinh - Chairman of the Vietnam Real Estate Brokers Association (Vars) - commented that some suburban areas of Hanoi are experiencing a phenomenon of local growth in transactions and then stagnation.
In addition, land auction activities in some localities, especially the Northern markets, have recorded a sharp increase in the number of applications in recent times, with the successful auction rate being 20% to 10 times higher than the starting price.
Experts say that investors in land and service land need to determine that this is a long-term investment, should not prioritize the use of financial leverage, should prioritize favorable location as well as the potential of the land to make decisions.
