According to the plan to implement the Project on investment, construction and development of 5 districts including Dong Anh, Gia Lam, Hoai Duc, Thanh Tri, Dan Phuong into districts issued by the Hanoi People's Committee in August 2024; Dong Anh and Gia Lam will be the 2 districts with the roadmap to become districts early in early 2025; the remaining 3 districts will strive to become districts by the end of 2025.
According to Lao Dong reporters, recently, land prices in districts such as Dong Anh, Gia Lam, Hoai Duc, Thanh Tri, Dan Phuong (Hanoi) have continuously increased.
For example, many plots of land in communes such as Vinh Ngoc, Co Loa, Uy No (Dong Anh district) are being offered by owners at prices ranging from 90-150 million VND/m2, an increase of 5-10% compared to early 2024. There are even plots of land near real estate and traffic projects being implemented with prices ranging from 150-180 million VND/m2.
Land plots in Trau Quy and Da Ton towns (Gia Lam district) are also being offered for sale by owners at prices ranging from 70-130 million VND/m2. Many real estate brokers here said that land plots on main roads and streets, although the selling price is quite high, are still of interest and sought after by investors.
Not only Dong Anh, Gia Lam, land prices in Hoai Duc district (Hanoi) have recently been attracting the attention of many investors despite the skyrocketing selling prices. Accordingly, many land plots in An Khanh, Van Canh, Song Phuong communes... are being sold by many owners at prices exceeding 100-150 million VND/m2.
Also in Thanh Tri district, land prices on Ngoc Hoi, Tan Trieu, and Dong My streets are being advertised for sale from 80 to 120 million VND/m2, depending on the area; Many land lots in Ha Mo, Trung Chau, and Tan Lap communes (Dan Phuong district) are being advertised for sale from 62 to 152 million VND/m2 and show no signs of cooling down.
Notably, the newly issued land price list of the Hanoi People's Committee shows that the new land price list in Hanoi has been adjusted to increase from 2 to 6 times. Many real estate experts predict that land prices in the 5 districts that are about to become districts will also increase sharply in the near future.
Referring to this content, Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - commented that land prices in the district that is about to be upgraded to a district are on the rise as there are many large urban area projects being formed here, and traffic infrastructure and urban infrastructure are gradually being completed.
According to Mr. Diep, when there is information that the district will become a district, many investors will be interested in real estate segments, especially the land segment here.
To avoid being "inflated", investors who want to buy land need to consider the price, location, and surrounding amenities to make the right choice.
At the same time, it is necessary to carefully study the legal documents before deciding to invest or buy and sell land. Investors should also balance their cash flow and should not use too much financial leverage to invest in real estate at this time.
