Research by Lao Dong reporters shows that the segment of subdivided land near the Ring Road 4 project (Hanoi) has recently begun to become vibrant again.
Many investors tend to flock here to buy land with the expectation that the segment will increase when Ring Road 4 is completed in 2027.
Mr. Nguyen The Long (45 years old, living in Song Phuong commune, Hoai Duc district) said that in early 2024, the price of land divided into plots in Song Phuong, Duc Thuong, Duong Lieu, Tien Yen communes reached an average of 40-60 million VND/m2 but has now increased quite strongly, ranging from 60-75 million VND/m2.
In the central area alone, the price of land plots separated near Thang Long Avenue, where there is synchronous infrastructure, in early 2024, the selling price was from 80-90 million VND/m2, now increased to 90-120 million VND/m2.
Mr. Tran Hoang (a long-time real estate broker in Hanoi) said that many plots of land in suburban districts of Hanoi are showing signs of significant increase, and in some places, prices have suddenly increased by tens of millions of VND/m2 after only a few months of construction of the Ring Road 4 project.
The Ring Road 4 route through Hanoi is 57km long, passing through districts such as Ha Dong, Soc Son, Me Linh, Dan Phuong, Hoai Duc, Thanh Oai, Thuong Tin.
In addition to the factor that the real estate market is gradually recovering, many real estate experts predict that this is one of the factors that makes the land segment here attract attention.
However, experts note that the implementation of transport infrastructure projects is long-term. Investors need to be cautious, avoid getting caught up in infrastructure planning information, virtual land fever in the context of the real estate market still in the recovery stage. In some places, there is even a phenomenon of unfounded land price increases.
Ms. Do Thu Hang - Senior Director of Savills Hanoi Consulting and Research Department - commented that the infrastructure system and urban utilities are often one of the factors that can affect the value of real estate.
According to Ms. Hang, a traffic infrastructure project is usually implemented over many years, in certain stages. Investors need to clearly understand the current planning status and completion progress of component projects to make appropriate decisions.
