Recently, land prices in suburban areas of Hanoi and neighboring provinces such as Hung Yen and Bac Ninh have tended to increase sharply. Many areas have recorded rapid price increases, attracting the attention of investors.
A market survey shows that in Van Giang district (Hung Yen), land prices on main roads, especially around the roundabout area - where restaurants, banks and hotels are concentrated, have increased from 55-60 million VND/m2 in 2020 to 125-150 million VND/m2. Even deep plots of land recorded a significant increase, from 28-35 million VND/m2 to 50-60 million VND/m2.
In Hoai Duc (Hanoi), land prices currently range from 40-60 million VND/m2, but at locations near Vinhomes Smart City, An Khanh - An Thuong, the price has exceeded 70 million VND/m2. Meanwhile, in Chuong My, land around National Highway 6 and the center of Chuc Son town recorded prices from 25-45 million VND/m2, a clear increase compared to before.
Dong Anh also recorded an average price ranging from 60-100 million VND/m2. Beautiful plots of land near major roads even exceed 130-150 million VND/m2. At locations along Ring Road 4 such as Lai Yen, Van Canh, An Khanh (Hoai Duc), the price ranges from 90-130 million VND/m2.
In addition to Hanoi, neighboring provinces such as Bac Ninh and Hung Yen are also becoming the focus. In Bac Ninh, Tu Son and Que Vo areas, land prices currently range from 45 80 million VND/m2. Hung Yen recorded an increase of 25-50% in areas such as Van Giang, My Hao, Yen My, Khoai Chau.
Mr. Tran Van Minh, a long-time real estate investor in Hanoi, expressed concern that land prices in the suburbs are increasing too quickly. "In many places, the infrastructure is not yet complete, the population is still sparse, but land prices have been pushed up, far exceeding the actual value. I think this price is unlikely to be maintained for a long time, said Mr. Minh.
According to Mr. Minh, many small investors are afraid of missing out on opportunities and rush to spend money without carefully evaluating the actual factors. "If land prices continue to be pushed up by rumors instead of relying on actual development of infrastructure and utilities, the risk of price adjustment is huge" - Mr. Minh commented.
Ms. Nguyen Thi Hoa - a personal investor in Hung Yen - also believes that the crowd mentality is contributing to pushing up land prices. "Hearing that there are big projects or new planning, land prices have skyrocketed. Many people buy land according to rumors without carefully researching the legality or real potential. Sometimes, just by having unverified information spread widely, land prices have skyrocketed, creating prices that do not reflect reality" - Ms. Hoa shared. According to Ms. Hoa, investors who follow the "surfing" mentality will be the group at the biggest risk when the market adjusts or the planning information does not go as expected.
According to Mr. Nguyen Van Dinh - Chairman of the Vietnam Association of Realtors (VARS), the trend of "hunting" for land is increasing in some areas, however, investors need to be cautious about virtual fevers. "It is necessary to be especially cautious with areas where land prices have increased following the rumor wave, lacking transparency in planning progress and legality. To ensure safety, cash flow should be directed to areas with good infrastructure, clear planning and real residents" - Mr. Dinh recommended.
According to Mr. Dinh, if the situation of price pushing and speculation continues without timely intervention, the risk of the market facing strong adjustments is very high. Investors need to be alert, not chase after crowd psychology and consider carefully before each decision to spend money.
