Land prices increase sharply in administrative centers of new provinces after merger

Việt Bắc |

In the administrative centers of the new provinces after the merger, real estate prices have fluctuated many times as people's demand for buying and renting increased.

According to the reporter's records, after the policy of merging Thai Nguyen and Bac Kan provinces and placing the administrative center in Thai Nguyen city, real estate prices here tend to increase with transaction volume increasing more than normal.

In the past 3 months, land prices in some central areas of Thai Nguyen City have recorded a strong increase of over 30%. Especially in central wards such as Phan Dinh Phung, Hoang Van Thu, Gia Sang, which are considered "golden land" areas.

Mr. Hoang Van Tien (Bac Kan City) said that in November 2024, the price of an 80m2 plot of land in the central ward of Thai Nguyen City was advertised for sale at about 3 billion VND, but at present it has increased to more than 4 billion VND.

Nhieu lo dat tai trung tam TP Thai Nguyen duoc rao ban voi gia cao hon 30% so voi cuoi nam 2024. Anh: Viet Bac.
After the information of the merger of provinces, many plots of land in the center of Thai Nguyen City were advertised for sale at a price 30% higher than at the end of 2024. Photo: Viet Bac

"Currently, the number of people looking to buy land has increased, so land prices have also been pushed up. Through consulting some people, I learned that the success rate of transactions is also quite high. That shows that the real needs of the people are there," Mr. Tien shared.

Not only in the central area, in the suburbs of Thai Nguyen city such as Quyet Thang and Phuc Xuan communes, land prices have also increased. Small and medium-sized plots of land under 60m2 in the price range of over 1.5 billion VND are sought after by many people.

According to some experienced people in the real estate sector in Thai Nguyen City, the sharp increase in real estate prices in the area is also understandable when the demand of real estate residents and investors increases sharply when the province is merged.

Mr. Tran Hung - Exploit Manager of a real estate brokerage company in Thai Nguyen City - said: "For many months now, the number of customers from Bac Kan province coming to our company has increased sharply, accounting for 50%. There are many buyers to live in and investors also have them".

Meanwhile, in Tuyen Quang City, the administrative center of the new Tuyen Quang province after merging with Ha Giang province, house and land prices also increased sharply.

According to a survey by PV, favorable locations and stable infrastructure conditions such as Viet My Urban Area, Tan Ha Urban Area (centre of Tuyen Quang City) and 100m2 of land are being offered for sale at more than 4.2 billion VND, an increase of nearly 30% compared to the end of 2024.

For new residential areas that have been auctioned, the increase is also over 30%. On May 31, 111 plots of land in Tuyen Quang City were auctioned, of which 103 plots were sold with a revenue of over VND 336 billion 352 million, nearly VND 109 billion higher than the starting price.

Mot khu dan cu ben bo song Lo (TP Tuyen Quang) dang duoc xay dung. Anh: Viet Bac.
A residential area on the banks of the Lo River (Tuyen Quang City) is under construction. Photo: Viet Bac

The plot of land is paid at the highest price of more than 45.8 million VND/m2 in Tan Ha ward with a starting price of over 4.7 billion VND, the winning price of over 8.5 billion VND, the price difference between the starting price and the winning price of nearly 3.8 billion. The winning land plot has the lowest difference of more than 35 million.

Having participated in many land auctions in Tuyen Quang, Mr. Vi Manh Ha (Vinh Phuc province) said: "The difference between the starting price and the winning price has been high for more than 10 years. In fact, the transfer price in the free market is even higher".

Informing reporters, a leader of Tuyen Quang City People's Committee said that the technical infrastructure in the residential areas put up for auction has been completed, meeting the housing needs of the people. The auction is strictly implemented according to the provisions of law.

"The value of land collected after a large auction also reflects the correct market rules. This is not difficult to explain when the demand of people from other places coming to Tuyen Quang city to buy land has increased recently," said the leader.

Việt Bắc
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