At the end of 2025 and the beginning of 2026, residential land auctions in rural Ninh Binh suddenly became bustling, attracting the participation of thousands of investors from provinces and cities across the country. Land prices were "infused" many times higher than the floor price offered by the auction organizing unit.
At the auction of 154 residential land plots in An Hoa 13 hamlet, Kim Son commune, Ninh Binh province held on December 7, 2025, nearly 1,000 people participated with more than 3,800 dossiers eligible to participate (an average of 25 dossiers/plot). This is one of the auctions considered to be a record in the Ninh Binh rural land auctions to date.
The auction took place through 3 bidding rounds, the area of each lot ranged from 120m2 to 387.8m2 and the starting price was from 5 million VND/m2 to 12 million VND/m2. As a result after the auction, some lots won with prices of nearly 28 million VND/m2.
However, after winning the auction for the right to use 154 land plots above, most investors abandoned their deposits. The kiosks that real estate buyers and sellers had temporarily built to make real estate transaction offices before have now been dismantled and taken away.
According to records of Lao Dong Newspaper reporters, the 154 land plot auction area in An Hoa 13 hamlet is still in the process of completing infrastructure. The entire land area has no housing projects built.
Talking to a reporter of Lao Dong Newspaper, Mr. Nguyen Cao Son - Chairman of Kim Son Commune People's Committee - said that out of a total of 154 land plots, only 52 land plots have been completed by investors with procedures as well as obligations to pay the winning bid to issue land use right certificates. The remaining 102 winning bid dossiers have expired, but investors have agreed to abandon the deposit, not fulfilling the next obligations to issue land use right certificates.
Currently, we are assigning relevant units to complete procedures to re-auction the land plots that investors have abandoned. For cases that have won the auction but have not fully fulfilled their obligations as prescribed, we will consider and issue a decision to ban participation in the land use right auction for a period of 2 years as prescribed" - Mr. Son said.
Similarly, in Quynh Luu commune, Ninh Binh province, many investors when winning the auction for residential land use rights in Vuon Lang residential area also simultaneously abandoned their deposits.
Mr. Bui Van The - Chairman of Quynh Luu Commune People's Committee - said that the Commune People's Committee has issued a decision prohibiting participation in auctions for a period of 2 years according to regulations for 6 cases of investors winning the auction but abandoning the deposit.
Among the 83 land plots in the commune that were just organized for auction in the first phase of 2026, 6 plots were abandoned by investors, we are completing procedures to re-organize the auction" - Mr. The said.
Also according to Mr. The, the reason why investors abandoned deposits is because at the time of organizing the auction, investors from other provinces flocked in large numbers, causing land prices to be pushed up. After investors withdrew, land prices fell low, and many investors had to accept abandoning deposits to limit losses.
