Land prices have increased sharply locally in many localities such as Bac Giang, Phu Tho, Hai Phong, Dong Nai... causing the "catching the wave" mentality to return. However, in the context of the market not really recovering sustainably, many investors are concerned about the scenario of being stuck and having a recurrent situation like the previous land fever.
According to information from the Ministry of Construction, the number of land transactions increased sharply in localities such as Bac Giang, Phu Tho, Ninh Binh, Thai Binh, Hung Yen, Hai Phong and Dong Nai, where land prices also recorded great fluctuations in the first three months of this year.
In Bac Giang, the price of land plots in some areas of Bat Giang City has increased by over 20% in the first quarter of 2025. In Phu Tho, urban areas have been abandoned for many years such as Van Phu, Trung Vuong, Tho Son, Thanh Mieu or Gia Cam suddenly sold vigorously again with an increase of 20–30%. In Hai Phong, the price of land in Kien Thuy, An Dong and Thuy Nguyen areas also increased by 15–20%. Especially, in Nhon Trach district (Dong Nai), there are places where the selling price increases more than 40%.
Analysts said that this price increase mainly comes from unofficial information related to the merger of administrative units and infrastructure planning. Many investors rush to gather land in areas rumored to become new administrative centers, creating conditions for speculators to manipulate prices.
According to Mr. Nguyen Quoc Anh, Deputy General Director of Batdongsan.com.vn, merging provinces and cities is a hot story that lasts from the end of last year to the beginning of this year. The great interest and expectation of the real estate market for the merger of provinces is both an opportunity and a challenge in the future.
Citing the case of Ha Tay merging into Hanoi in 2008, he said that real estate prices in this area have increased sharply but also left many projects abandoned and behind schedule. According to him, not all areas after the merger will have a steady growth rate, and the rapid increase in prices can cause liquidity problems.
According to Mr. Nguyen Van Tuan, a land broker in Bac Giang, the phenomenon of rapid increase in land prices in recent times largely comes from investors' overly high expectations, combined with unverified information. "There are cases of land gathering and creating fake waves to pull others in. Those who come after or expect to surf too quickly will easily get stuck when the market suddenly turns around, Mr. Tuan warned.
In fact, many individual investors have begun to feel the risks from short-term deals themselves. Mr. Vu Van Hung (37 years old), an investor in Hanoi, said that at the beginning of this year, he bought two plots of land in Dai Dong commune (Van Lam, Hung Yen) with the expectation of "catching the wave" quickly, taking profits in a few months. "The price has increased, but not enough to make a profit. I started to worry because the market showed signs of slowing down, but I had to pay too early, said Mr. Hung.
Similarly, Mr. Tran Nam (35 years old, an investor in Bac Giang poured capital into two plots of land in a new residential area in Da Mai ward (Bac Giang city) after hearing that this area was about to be administratively planned. "My consultant confirmed that prices will increase sharply in the first quarter, but until now I have not been able to sell. If the market turns around, I am afraid I will be stuck at the peak, right when the waves are gone, Mr. Nam shared.
