Level of interest decreases, land plot prices begin to cool down
After a period of continuous price increases and many times of establishing new levels, the land plot market is showing clear signs of slowing down. The level of interest is decreasing, liquidity is weakening, while in many areas that were once the focus of land fever, sellers have begun to accept price adjustments to find liquidity.
According to Ms. Do Thi Ngoc Anh - Senior Business Manager of Batdongsan. com. vn, in the first quarter of 2026, both Hanoi and Ho Chi Minh City recorded a decrease in interest in land plots compared to the end of last year. In which, Ho Chi Minh City (old area) decreased by about 5%, while Hanoi decreased more sharply, up to 23%.
This development shows that investor sentiment has become significantly cautious after the period when cash flow poured strongly into land plots. No longer seeing a large number of investors flocking to hunt for areas with planning or infrastructure information, the market is currently recording a trend of listening and waiting more.
Along with the decrease in search demand, selling prices on the market also began to adjust downwards or sideways. Data from Batdongsan. com. vn shows that the average asking price for land plots in Hanoi in the first quarter of 2026 reached about 81 million VND/m2, slightly lower than the 82 million VND/m2 in the fourth quarter of 2025. However, this price is still significantly higher than about 75 million VND/m2 at the beginning of 2025. In Ho Chi Minh City (old area), land plot prices remained flat at 68 million VND/m2, higher than 63 million VND/m2 in the same period last year.
The overall picture of the market recorded by the Ministry of Construction in the Q1/2026 report also shows that land plot prices developed according to projects in the secondary market in most localities are basically stable compared to the previous quarter. Only some areas recorded slight increases, mainly concentrated in product groups with good quality, clear legal status and convenient locations such as Khanh Hoa increasing by about 2%, Da Nang and Dong Nai increasing by over 1%.
The market enters a strong screening phase
According to the analysis of MB Securities Joint Stock Company, in the first quarter of 2026, the real estate market in general and the real estate stock group in particular were quiet, mainly due to the interest rate level maintaining at a high level and tending to increase. High interest rates and controlling real estate credit have created double pressure on the market: Investors are more cautious when deploying new projects, while buyers using financial leverage are also cautious about spending money. Weakening liquidity leads to slight price adjustments.
Real-world surveys in Hanoi show that this trend is taking place quite clearly. In areas that were once the focus of land fever such as Dong Anh, Hoai Duc, Gia Lam or Long Bien, land plot prices simultaneously cooled down. In Long Bien (old), the common price is about 60 - 135 million VND/m2, down about 2 - 6 million VND/m2 compared to the beginning of last year. Gia Lam (old) area fluctuates from 40 - 90 million VND/m2, down about 1 - 4 million VND/m2. Dong Anh (old) is currently at 35 - 80 million VND/m2, down about 2 - 6 million VND/m2; Hoai Duc (old) fluctuates from 45 - 90 million VND/m2, down about 1 - 5 million VND/m2.
Mr. Thanh Tung, a long-time real estate broker in Hanoi, said that the number of customers learning about and going to see land plots has decreased significantly compared to before, especially in areas that once increased sharply thanks to planning information. According to Mr. Tung, many land owners have begun to consider reducing prices, especially the group of investors using borrowed capital who are under prolonged interest rate pressure.
From a long-term perspective, Mr. Vo Huynh Tuan Kiet - Director of Housing Project Marketing Department of CBRE Vietnam - believes that this year the market will enter a strong screening phase when new decrees and laws are applied synchronously, helping to break away unsustainable value factors and give way to real value assets.
According to Mr. Kiet, the regulation on real estate identification codes will contribute to transparency of ownership rights, transaction control and clarification of the true value of assets. Along with that, the fact that the land price list is adjusted to be closer to reality and the regulation prohibiting land subdivision and sale in urban areas of type I, II, III will significantly reduce the supply of spontaneous land plots.
This means that the period of land plot prices increasing according to expectations, rumors or short-term fevers is gradually passing. The market is no longer an easy playground for speculative cash flow, but is entering a strong elimination process.
