Land prices in suburban areas of Hanoi increase
Land prices in many suburban areas of Hanoi are tending to escalate rapidly in the first months of 2025. However, the price increase is not commensurate with purchasing power, as transactions in the market have not recorded a clear breakthrough. This development shows that the market is in the process of setting new prices, while investors are still cautious and exploratory.
According to data from Property Guru Vietnam, in early 2025, the asking price of land in the suburbs of Hanoi has increased from 30% to 80% depending on the area. Notably, Quoc Oai is one of the localities that recorded an impressive increase of up to 74%.
A survey of land prices in some districts far from the center such as Thach That, Thanh Oai, Chuong My shows that land prices have increased significantly in just the first 3 months of the year.
In Thach That district, land on Tien Xuan commune road was priced at about 27-30 million VND/m2 at the beginning of the year, now being advertised for sale at 29-32 million VND/m2. In Binh Yen commune, the price also increased to 22-24 million VND/m2 compared to 20-22 million VND/m2 at the beginning of the year. In particular, land on the already high double road in Thach Hoa commune has now continued to increase from 35-36 million VND/m2 to 38-40 million VND/m2.
In Quoc Oai district, Phu Man commune recorded a price of 12-13 million VND/m2 at the beginning of the year, now it has skyrocketed to 13-14 million VND/m2. Land in Phu Cat commune also increased from 10-13 million VND/m2 to 11.5-14 million VND/m2. In Hoa Thach, land for car roads is currently being offered for sale at VND23-25 million/m2, VND2 million/m2 higher than at the beginning of the year.
Son Tay town also witnessed an upward trend in prices. Land on Dong Trang Street - a large 18m wide road, near the Metro 05 station planning - has increased from 29-30 million VND/m2 to 30-31 million VND/m2. In the village areas, previously the price was only about 12-14 million VND/m2, now it has also increased to 15-18 million VND/m2, despite the location not being convenient for business.
Investors cautiously observe, transactions have not broken out
Although land prices have continuously increased, the number of transactions on the market has not increased accordingly. Mr. Nguyen Quoc Anh, Deputy General Director of Property Guru Vietnam, commented: "This shows that land prices in the suburbs still tend to grow well after a year. However, interest in land has not increased accordingly, even showing signs of moving sideways or decreasing slightly. It shows that the transaction has not had many breakthroughs compared to last year".
According to Mr. Quoc Anh, land prices in the suburbs of Hanoi have increased continuously in recent years, causing many investors and buyers to wait and observe the market before deciding. In addition, information about the recent merger plan of some provinces has caused speculators to shift their attention to more remote areas, instead of continuing to focus on land near the capital as before.
From the perspective of investors, Mr. Duong Van Hien (35 years old - Cau Dien, Nam Tu Liem District, Hanoi) said: “At the end of last year, I was about to go down to the money of a plot of land in Thach That because I thought the market was changing well. But then hesitated because the price was still high compared to expected. At the beginning of this year, the price increased by a few million per square meters made me quite regretful, but still not buying because of the market trend, but many people were unclear, but the market trend was very unclear. pandemic".
Meanwhile, Ms. Nguyen Thi Lan (42 years old - Phu Man commune, Quoc Oai district, Hanoi) shared: "I bought a plot of land in the middle of last year for about 12 million VND/m2, currently the broker can sell it for 14 million VND/m2. But not many people come to see the land, and even if they do, it is quite superficial. The price increase is real, but to sell immediately is not easy".
It can be seen that although land prices in the suburbs of Hanoi are creating a wave of price increases, the market has not shown signs of strong liquidity movement. Trading stagnated in the context of continued high prices, reflecting investors' cautious sentiment, and at the same time showing that the market is still in the exploration phase, after a long hot increase cycle.
