According to Lao Dong reporters, in the last months of 2024, the heat of the land segment in Hanoi has not shown any signs of cooling down due to land auctions in suburban districts.
Accordingly, at present, land prices in some areas such as Duc Thuong, Duong Lieu, Tien Yen communes (Hoai Duc district) have reached 50-60 million VND/m2.
Some plots of land in Vinh Ngoc and Hai Boi communes (Dong Anh district) have also reached the threshold of 100-150 million VND/m2.
Roadside land in Tan Lap and Tan Hoi communes (Dan Phuong district) has also reached the threshold of 54-65 million VND/m2.
Even according to Lao Dong reporters' research, land prices in suburban districts such as Thanh Oai, Soc Son, Hoai Duc (Hanoi) located on the Ring Road 4 under construction have also increased sharply, due to the impact of record high land auctions.
Statistics from PropertyGuru Vietnam recently showed that the average selling price of land in Hanoi in November 2024 was 70 million VND/m2, an increase of 32% compared to January 2023.
Compared to the first quarter of 2023, land prices in the third quarter of 2024 in Dong Anh district increased from 41 million VND/m2 to 63 million VND/m2 (up 53%); Land prices in Hoai Duc district increased on average from 55 million VND/m2 to 100 million VND/m2 (up 81%); Thanh Oai is the district with the strongest increase in land prices from 21 million VND/m2 to 40 million VND/m2 (up 90%).
Mr. Nguyen Quoc Anh - Deputy General Director of PropertyGuru Vietnam - said that the land segment in the suburbs of Hanoi is showing signs of increasing in price, receiving the attention of many investors. However, according to the survey, there are still some areas that are very quiet, with transactions decreasing.
According to Mr. Nguyen Quoc Anh, it is forecasted that by the second quarter of 2025, when investors are confident in the economy and yields, the land segment will receive much attention.
In particular, after the 2024 Land Law comes into effect, the land market will have many major changes from supply to transaction activities. The land segment will develop in a more positive direction, reducing land fever, virtual prices, and creating market waves.
Referring to this content, Mr. Pham Duc Toan - General Director of EZ Real Estate Investment and Development Joint Stock Company (EZ Property) - said that from the second quarter of 2025, the provincial real estate market in general, and the land segment in particular, will achieve better liquidity and become more vibrant.
Currently, some investors have begun to shift their investment trends to provinces and cities with good economic growth, synchronous infrastructure and relatively low prices. Experts assess that the majority of investors still have a defensive mentality and are cautious when deciding to spend money to buy land at this time.
