According to Lao Dong reporters, many service land plots in Ha Dong district (Hanoi) have recently been advertised at expensive prices.
Accordingly, many service land plots located in beautiful locations with convenient transportation are being offered for sale at prices ranging from 150 - 200 million VND/m2.
Notably, a 50 m2 service land plot in Duong Noi ward (Ha Dong) is being offered for sale by its owner for 10.9 billion VND, equivalent to about 218 million VND/m2.
At the same location, a 50 m2 plot of land is also being offered for sale by the owner for 10 billion VND, equivalent to 200 million VND/m2 due to financial difficulties, wanting to sell quickly at a preferential price.
In Yen Nghia ward, a 50 m2 service land plot is also being offered for sale at VND8.8 billion, equivalent to VND176 million/m2.
The owner of the land plot here believes that with a favorable location, located near universities, traditional markets, hospitals... this land plot still has the potential to increase in price in the future, and is sought after by many investors.
Mr. Nguyen Huu Cuong (55 years old, living in Duong Noi ward, Ha Dong district) said that the price of service land here is being offered for sale at over 150 million VND/m2, and there are even plots of land in prime locations being offered for sale at over 200 million VND/m2.
According to Mr. Cuong's research, compared to the beginning of 2024, the price of service land here has increased by 10-20 million VND/m2.
However, the service land segment here is quite picky about buyers because of the expensive price, leading to a small number of successful transactions.
A survey by the website PropertyGuru Vietnam also shows that from the beginning of 2024 until now, Hanoi service land (a type of land compensated by the State after the State has reclaimed agricultural land from people to build projects) has been showing a slight increase in selling price.
Mr. Nguyen Van Dinh - Chairman of the Vietnam Real Estate Brokers Association (Vars) - commented that land prices in some suburban areas of Hanoi are showing a phenomenon of local growth in transactions and then stagnating. The market has seen more investors hunting for land and service land waiting for prices to increase.
Experts say that investors in land and service land in Hanoi at this time need to determine that this is a long-term investment, and should not follow the crowd effect. In addition, financial leverage should not be used, avoid investing according to the crowd effect.
Before deciding to spend money to buy land and service land, investors should assess their needs, choose products that are truly suitable for their financial capacity, and focus on added value instead of price increase rate.
