After a period of temporary suspension of land auctions to review and adjust policies, Hanoi will restart land use rights auctions in many districts. Accordingly, from now until March, many districts such as Phuc Tho, Thanh Oai, Soc Son, Hai Ba Trung... will auction many plots of land.
In Phuc Tho district, it is expected that 20 plots of land will be auctioned on February 24. The plots of land to be auctioned include 1 plot in Huong Nam area, Xuan Phu commune (now Xuan Dinh commune); 12 plots of land in TT7, TT9, TT10 area of Dong Pham, Tho Loc commune (now Tich Loc commune); 7 plots in Doc Tranh area, Trach My Loc commune (phase 2), Phuc Tho district. The plots of land have an area of 68.2 - 196.8m2. The starting price ranges from 19.8 - 25 million VND/m2.
In Hai Ba Trung District, on February 27 and 28, the right to use 5 plots of land on Nguyen Khoi Street, Group 21, Thanh Luong Ward, Hai Ba Trung District will be auctioned. The plots of land have an area of 124 - 148.4m2. The starting price is from 11.19 - 14.8 billion VND/plot of land.
It is expected that on March 1, Thanh Oai district will auction 54 plots of land in Ngo Ba area, Thanh Than village, Thanh Cao commune. The plots of land have an area of 60m2 to 85m2, suitable for housing construction or investment needs. The starting price is given in the range of 10.9 - 16.3 million VND/m2, depending on the specific location of each plot of land.
In Son Tay Town, it is expected that on March 8, the right to use 28 plots of land will be auctioned. The plots of land have an area of 85-167m2, auctioned by the method of bidding up. The starting price for 27 plots of land in the Van Goi - Dong Quan area is 16.698 million VND/m2, with a step price of 3 million VND/step price. In addition, a plot of land in Tien Huan inter-land area, Vien Son ward, Son Tay town has a starting price of 10.35 million VND/m2.
Or in Me Linh district, the right to use residential land for 18 plots of land at Point X1, Dong Cao village, Trang Viet commune, Me Linh district will be auctioned at 8:30 a.m. on March 14. The plots of land have an area of 96 - 194 m2/plot with a starting price of 5.6 million VND/m2.
In particular, 36 plots of land in Dong Lai village, Quang Tien commune, Soc Son district will be re-auctioned. The auctioned plots have an area of 90 - 220.000 m2/plot, with a starting price of over VND9.1 million/m2, equivalent to each plot of land priced from over VND821 million to over VND2 billion.
Previously, land auction activities in the city continuously encountered some problems, typically price inflation and deposit cancellation after winning the auction, causing land prices to be pushed up to too high a level, leading to many consequences for the real estate market.
The Hanoi People's Committee has issued an official dispatch requesting departments, branches and localities to seriously implement measures to improve the effectiveness of land use rights auctions. According to the directive, localities should avoid organizing auctions in areas with low starting prices, publicize the identities of high bidders and then abandon the deposit. At the same time, due to the inadequacy of low starting prices, Hanoi has promptly issued an adjusted land price list as a basis for localities to re-determine appropriate starting prices.
In response to Hanoi's move, Mr. Nguyen The Diep - Member of the Vietnam Real Estate Association, Vice President of the Hanoi Real Estate Club - assessed that this is a timely and necessary action to stabilize the market and prevent speculation from causing panic among people.
"I hope that in the coming time, when the local government comes in, land auction activities will be more transparent. This helps the real estate market develop healthily and sustainably, said Mr. Diep.
