According to data from Batdongsan. com. vn, in the first quarter of 2026, both Hanoi and Ho Chi Minh City recorded a decrease in land plot interest compared to the end of 2025. Ho Chi Minh City (old) decreased by about 5%, while Hanoi decreased more sharply, by about 23%.
Although the level of interest has decreased, the general level of land plot prices has not adjusted sharply. In the past three years, land plot prices have mainly remained unchanged, reflecting the tug-of-war between the selling side's high expectations and the increasingly clear cautious sentiment from buyers.
In Hanoi, the average asking price for land plots reached about 81 million VND/m2 in the first quarter of 2026, slightly down from 82 million VND/m2 in the fourth quarter of 2025 but still higher than 75 million VND/m2 at the beginning of 2025. Meanwhile, in Ho Chi Minh City (old), the price remained almost flat at 68 million VND/m2 compared to the previous quarter, but still increased compared to 63 million VND/m2 in the same period last year.
Real-world surveys show that in areas that were once the focus of land fevers such as Dong Anh, Hoai Duc or Gia Lam (old), liquidity has decreased significantly compared to the peak period.
Mr. Xuan Hung, a land broker in Hanoi, said that the volume of transactions in suburban areas has decreased sharply. Many land plots have been offered for sale for a long time but have not yet found buyers, while the offering time is significantly longer than before.
According to Mr. Hung, the price level in these areas has begun to show a trend of adjustment, but the decrease is still quite modest. In Long Bien (old), the average land plot 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 recorded a common price of 40 - 90 million VND/m2, down about 1 - 4 million VND/m2.
Dong Anh (old) has a price of 35 - 80 million VND/m2, down about 2 - 6 million VND/m2; while Hoai Duc (old) fluctuates in the range of 45 - 90 million VND/m2, down about 1 - 5 million VND/m2. In areas further from the center such as Dan Phuong, Thanh Oai or Thuong Tin (old), land plot prices are currently commonly at 25 - 35 million VND/m2, down about 1 - 3 million VND/m2.
However, even when prices have adjusted, transactions are still very limited. According to Mr. Hung, the main reason why the market falls into a state of sluggishness is that buyers are now more cautious, no longer easily depositing money according to crowd psychology like in the previous period. Meanwhile, many investors still maintain high price expectations, not ready to deeply reduce to stimulate demand, leading to a mismatch between supply and demand.
Mr. Nguyen Anh Que, Chairman of G6 Group, said that the core factor of the market is still real housing demand and the ability to exploit utility value. According to him, wherever residents come to live, cash flow will form and create a foundation for real estate value.
Mr. Que recommends that investors should remain cautious, only choosing land plot products with clear housing or business exploitation potential. "The price must be commensurate with the usable value and cash flow generation capacity. Over the past time, many areas have been pushed up in price far beyond their actual value, so adjustments are needed to bring the market back to a more balanced state," he emphasized.
In addition, factors such as legality, planning and liquidity should be put first when making investment decisions. According to Mr. Que, in the current context, expecting short-term "surfing" is not appropriate. Instead, investors should identify medium and long-term strategies, associated with areas with real development potential.
