Land prices increase
In the latest market report of Batdongsan channel, Hung Yen real estate is in the top of the regions with the most searches on this real estate platform. Survey of notable price leaks of Hung Yen land in the past 5 years. In particular, Van Giang is where many large-scale projects are concentrated and is also the place where land prices are the most expensive in Hung Yen, higher than the land price in the city.
The plots of land in the Van Giang roundabout area, often used for restaurant, hotel, bank business... in 2020, have prices ranging from 55 - 60 million VND/m2. Up to now, the price has increased sharply to 125 - 150 million VND/m2. Also in this area, but in an unbeautiful location, the plots of land on the main road that can be used for business in Van Giang town have increased from 28 - 35 million VND/m2 to 50 - 60 million VND/m2.
In Van Giang district, land in Phung Cong, Xuan Cao and Jiuzhaigou - areas near the Ecopark project - also recorded a significant increase, from 25 - 30 million VND/m2 to 40 - 55 million VND/m2. Service land in these areas currently has prices ranging from 80 - 120 million VND/m2, double the previous 4 years. Some less beautiful locations have prices from 38 - 52 million VND/m2.
Not only Van Giang, land in Hung Yen city has established a new price level. Commercial land on Luong Dinh Cua, Ta Quang Buu, Ton That Tung streets in An Tao ward has increased from 18 - 25 million VND/m2 to 30 - 35 million VND/m2.
Land plots with similar characteristics on An Vu, Nguyen Bieu, Nguyen Van Linh streets (Hien Nam ward) also recorded prices increasing from 17 - 25 million VND/m2 to 26 - 32 million VND/m2. Land on Huynh Thuc Khang Street (Lam Son Ward) increased from 20 - 22 million VND/m2 to 30 - 32 million VND/m2. Land in Van Tue area increased from 40 - 43 million VND/m2 to 50 - 56 million VND/m2. In the same area, but in the same location, the land increased from 34 - 35 million VND/m2 to 43 - 47 million VND/m2.
Hung Yen auctioned land attracts investors
The Hung Yen real estate market is attracting a lot of attention with land auctions at the beginning of the year. Accordingly, on March 15, Lac Viet Joint Stock Auction Company successfully organized an auction of the right to use 100 plots of land in Nhan Vu village, Nguyen Trai commune, An Thi district, Hung Yen province.
The auction took place with 2,000 bidding applications and 500 customers participated. At the end of the session, the highest winning plot was valued at 56.2 million VND/m2. The plots with beautiful locations around have winning prices ranging from 52 - 56 million VND/m2. The overall price of the winning plots was at 2.9,3 billion VND. The lowest winning lot has a total value of nearly 2.7 billion VND.
Previously, on March 5, the People's Committee of Dan Tien commune (Khoi Chau district, Hung Yen province) coordinated with Vietnam Auction Joint Stock Company to organize an auction of the right to use 41 plots of land. The auction created great attraction in the market when it attracted 1,200 entries and hundreds of direct bidders. At the end of the auction, the highest winning price was up to more than 158 million VND/m2, the lowest average price was 66 million VND/m2. Both of these winning levels are far above the starting price.
Hung Yen real estate market assessment
Ms. Tran Thi Lan, a real estate broker in Van Giang, shared that since Tet, the demand for land in this area has increased significantly. Every weekend, she takes visitors to see the land 3 to 4 times, with the success rate of transactions increasing by about 20% compared to the end of last year.
According to Mr. Le Dinh Chung - Member of the VARS Market Research Working Group, General Director of SGO Homes, Hung Yen province is planned to become the area with the largest industrial park land fund in the country, creating momentum for economic development and the real estate market. Strategic location on key traffic routes, along with a continuously invested infrastructure system, helps Hung Yen conveniently connect with Hanoi and key areas.
The attractiveness of the market increases when many large corporations such as Vingroup and Hoa Phat invest heavily, promoting development and increasing real estate value.
Mr. Nguyen Van Dinh - Chairman of the Vietnam Association of Realtors (VARS) - acknowledged that Hung Yen is considered a relatively young market but recommended that, in the face of the situation of land auctions continuously setting peaks, investors need to stay alert, not chase after fever or get caught up in crowd psychology. Choosing a product must be based on financial capacity and solid legal factors to ensure safety when spending money.
