Statistics from the website Batdongsan.com.vn show that, in the period approaching Lunar New Year 2025, the price increase and transactions of land plots along the Ring Road 4 Project are tending to go sideways after a long period of price increase.
The website Batdongsan.com.vn also reported that from September 2024, about 1 month after the laws related to the real estate market such as the Housing Law 2023, the Real Estate Business Law 2023 and the Land Law 2024 officially took effect, they have become important "catalysts" to stimulate the growth of land plots along the Ring Road 4 Project.
This is the reason why the price of land along the Ring Road 4 Project has started to grow again since September 2024. During this period, the number of investors looking into land along the Ring Road 4 Project has tended to increase by about 30% compared to previous quarters.
Transaction volume also increased by 10-20% compared to the previous quarter. In areas where the Ring Road 4 Project passes through such as Soc Son, Me Linh, Thanh Oai, Dan Phuong districts, depending on the area, prices also increased by 10-15%.
However, according to the website Batdongsan.com.vn, after about 4 months of maintaining its appeal, by January 2025, the land market along the Ring Road 4 Project is showing signs of going sideways in both selling prices and actual transactions.
According to a survey by Batdongsan.com.vn, land in some urban areas such as Ha Phong and Cienco 5 (Me Linh district) is still maintaining the asking price from October 2024 at 55-64 million VND/m2.
Similarly, in the Bac Vong and Bac Phu areas (Soc Son district), where the Ring Road 4 project passes through, the selling price is still maintained at 15-24 million VND/m2.
Thanh Oai land, near the Ring Road 4 Project, is currently offered at 58-65 million VND/m2.
For land in Dan Phuong district, land located on Tan Lap street, the selling price has increased slightly, from the common level of 54-65 million VND/m2 to 57-68 million VND/m2.
Notably, the price of land on Tan Hoi Street (Dan Phuong District) also increased from 55-66 million VND/m2 to 57-69 million VND/m2. This is the only area that "follows" the Ring Road 4 Project, with an increase in selling price in January 2025.
Mr. Nguyen Quoc Anh - Deputy General Director of PropertyGuru Vietnam - said that after the 2024 Land Law took effect, the land market had many major changes from supply to transaction activities, the land segment developed in a more positive direction.
Mr. Nguyen Quoc Anh predicts that from the second quarter of 2025, the Hanoi land segment in particular and the whole market in general will achieve better liquidity and be more vibrant. Land, along with project villas, will lead the real estate market.
