Price reductions of billions of VND are still difficult to find customers
After a long period of continuous price increases, the land plot market in many areas of Hanoi is showing a strong adjustment trend in many areas. Many investors have to reduce prices by hundreds of millions of VND, even up to billions of VND/land plot to find buyers.
Mr. Nguyen Van Thanh (38 years old) - a real estate investor in Hanoi - shared that for about 3 months, he has continuously posted advertisements for sale of a 120m2 land plot in Xuan Yen commune but has not yet found a suitable buyer.
Mr. Thanh said that the land plot was bought in 2024 - a time when the land plot market in this area increased sharply thanks to planning information and infrastructure expectations. At the beginning of 2026, when land prices in this area peaked at about 34 million VND/m2, many brokers once valued his land plot at more than 4 billion VND.
But in a short time, the price level has dropped very quickly, currently the average asking price in this area is only about 26 million VND/m2. With the current price level, the value of the land plot has decreased by nearly 1 billion VND compared to the peak period. I have reduced the price many times but there are still no customers closing. Buyers are now very cautious, mainly going to see and then continuing to listen to the market," Mr. Thanh said.
A similar situation also occurred in the Xuan Canh area. Ms. Nguyen Thi Huong is selling an 80m2 land plot after more than a year of holding it.
According to Ms. Huong, the market was most bustling at the end of 2025, when land prices in this area reached about 143 million VND/m2, the land plot was once valued by brokers at more than 11 billion VND. Currently, the common price level is only about 125 million VND/m2.
Compared to the peak price, the value of the land plot has decreased by more than 1 billion VND, but it is still difficult to find buyers. Buyers are currently very cautious, no longer depositing money as quickly as before," Ms. Huong shared.
Many areas sharply decrease after a period of hot growth
A survey on the Batdongsan. com. vn platform shows that land plot prices in many areas of Hanoi have decreased significantly compared to the peak area established in 2025 and early 2026.
The strongest decrease was recorded in the former Uy No commune area, now belonging to Dong Anh commune. The common land price is currently about 118 million VND/m2, down 31.8% compared to the peak of 173 million VND/m2 in February 2026.
In Yen Xuan commune, land prices are currently commonly around 26 million VND/m2, about 23.5% lower than the peak of 34 million VND/m2 recorded at the beginning of this year. The old Xuan Canh commune area also recorded an adjustment trend when land prices are currently around 125 million VND/m2, down about 12.6% compared to the peak price in September 2025.
Meanwhile, in Hoa Lac commune, the common land price is about 32 million VND/m2, about 11.1% lower than the peak price set in 2025.
In areas such as Long Bien or Viet Hung, the adjustment is lighter. Land prices are currently down about 0.5-2.3% compared to the peak set in April 2026 but still significantly higher than the same period last year.
Although land prices in many areas have decreased quite deeply compared to the hot period, the general price level is still higher than about a year ago. This shows that the market is in the process of adjustment after a strong upward cycle.
The change in the market is not only reflected in the decrease in land prices and stagnant liquidity. In some localities, many investors who once agreed to pay very high prices in land auctions have also chosen to abandon their deposits when the market reversed. Typically, in Ninh Binh, an auction of 154 land plots in An Hoa 13 hamlet, Kim Son commune at the end of 2025 attracted nearly 1,000 participants, but then 102/154 winning bidders did not complete their financial obligations and agreed to abandon their deposits.
Land plots are still the most expected segment
Although the market is in a correction phase, in terms of investment expectations, land plots are still the type that many investors rate the highest in terms of price increase potential in the coming years.
Ms. Pham Thi Mien - Deputy Director of the Vietnam Institute for Real Estate Market Research and Evaluation - said that through surveys, working with customers and surveying market demand, the research unit recorded that the priority search groups of buyers have changed a lot.
The group of customers buying with the goal of waiting for price increases still mainly focuses on land plots. Besides, there is a group looking for opportunities to exploit cash flow from apartments or real estate for rent. Next is the group serving real housing needs and the group buying to exploit for long-term rent.
In terms of real estate types, land plots are still the segment expected to increase the most in price. Followed by apartments, apartments, villas, townhouses, shophouses and office real estate," Ms. Mien assessed.
