After a period of prolonged strong price increases, the land plot market is showing clear signs of stagnation. The level of interest is decreasing, liquidity is weakening, while in many areas that were once the focus of land fever, sellers have begun to accept price adjustments to find liquidity.
According to Ms. Do Thi Ngoc Anh, in the first quarter of 2026, both Hanoi and Ho Chi Minh City recorded a decrease in interest in land plots compared to the end of last year. In which, Ho Chi Minh City (old area) decreased by about 5%, while Hanoi decreased more sharply, up to 23%.
This development shows that investor sentiment has become significantly cautious after the period when cash flow poured strongly into land plots. No longer seeing a large number of investors flocking to hunt for areas with new planning or infrastructure information, the market is currently recording a trend of listening and waiting more.
Along with the decrease in search demand, selling prices on the market also began to adjust in a sideways or slightly downward direction. Data from Batdongsan. com. vn shows that the average asking price for land plots in Hanoi in the first quarter of 2026 reached about 81 million VND/m2, slightly down from 82 million VND/m2 in the fourth quarter of 2025.
According to surveys, many areas have now seen a downward trend in prices. In Son Dong commune (Hanoi), land plots divided into plots belonging to the 4.5ha area and An Tho area located on Ring Road 3.5 are currently commonly offered for sale at about 180 million VND/m2, down about 5.3% compared to the peak of about 190 million VND/m2 in February 2026. However, compared to the same period last year, the price level in this area still increased by more than 5%.
Meanwhile, the auctioned land plots in Lai Xa area, Hoai Duc commune, near National Highway 32 currently have a common price of about 170 million VND/m2, down about 4% compared to the peak price of 177 million VND/m2 recorded in February 2026. However, the current price is still about 15.6% higher than the same period last year.
Notably, in Phu Cat commune (Hanoi), the area near Lang - Hoa Lac High-Tech Park, land plot prices are recording a fairly strong adjustment after a period of hot increase. Some areas currently have common prices of about 29 million VND/m2, down about 19% compared to the peak of 36 million VND/m2 in June 2025. Many other locations in this locality also decreased to about 20 million VND/m2, about 20% lower than the peak of about 25 million VND/m2 recorded in April 2025.
Mr. Tran Van Hung, a real estate broker in Hanoi, said that the current land plot market no longer maintains the "hot" state as in the previous period. According to Mr. Hung, the number of customers learning about and viewing land, especially investors, has decreased significantly, while buyers with real needs are also more cautious before deciding to spend money.
There are land plots that previously only needed to be put up for sale for a few days for customers to ask to buy and come to see continuously, but now many land owners have to accept price reductions or extend waiting times to find buyers. Investors are now more interested in legal issues and long-term potential instead of chasing after the crowd mentality as before," Mr. Hung said.
According to Mr. Hung, the cooling down of the land plot market after a period of hot increase is considered understandable in the context that investment cash flow is no longer as abundant as before, real estate purchase loan interest rates are still high and short-term speculation sentiment is decreasing. Although a wave of deep decline has not appeared widely, the trend of local adjustment in many areas shows that the market is entering a stronger differentiation phase.
