Located right in the center of Ninh Phong ward (Hoa Lu city, Ninh Binh province), the land area of tens of hectares has been invested in building relatively complete infrastructure and auctioning land use rights for people since 2022. However, up to now, the entire land is so vast, but only a few people have built houses, the rest are empty.
According to the investigation of Lao Dong Newspaper, in the past month, land prices in this area have suddenly skyrocketed. On average, a plot of residential land with an area of 100m2 - 120m2 has a price ranging from 3.6 billion VND to 4.5 billion VND/plot, depending on the location.
Mr. Nguyen Thanh Tu (Director of a real estate trading office in Hoa Lu city) said that in recent days, many investors from all over have flocked to Hoa Lu city to buy land, causing land prices here to increase.
"If before the Lunar New Year 2025, the price of a plot of land (from 100m2 - 120m2) ranged from 1.6 billion VND to 2 billion VND, now it has doubled, even tripled. The real estate market is bustling, but most of it is transactions between investors buying and selling for profit. People's transactions to build houses are very small" - Mr. Tu shared.
Ms. Nguyen Thi Vui (owner of Tien Phat Real Estate Office in Hoa Lu city) shared that the reason for the high land prices in Hoa Lu city in recent days is the fact that Hoa Lu city was newly established on the basis of merging Hoa Lu district and Ninh Binh city. At the same time, Hoa Lu city is also recognized as a Class I urban area, and will continue to develop strongly in the future. Therefore, investors took the lead to invest for profit.
"In reality, investors are mainly people from other places, not local people, and the main purpose of buying land is speculation, so this entire land plot of dozens of hectares is sparsely populated with only a few houses" - Ms. Vui shared.
"In order to improve the effectiveness of house and real estate market management in the area, the People's Committee of Ninh Binh province has directed relevant units to synchronously implement solutions to manage the housing market and real estate market. One of the key tasks that the People's Committee of Ninh Binh province requires is to ensure transparency of information about the real estate market. Relevant units must publicize the list of projects eligible for business, housing development planning and land use plans. This not only helps people and businesses access accurate information, but also limits speculation and price manipulation" - Mr. Nguyen Cao Son - Vice Chairman of Ninh Binh Provincial People's Committee said.
