Lao Dong's records show that in the Dong Anh commune area, land plot prices are currently being offered for sale at a high level, with almost no more land plots priced below 50 million VND/m2.
For example, on Le Xa street, Dong Hoi commune, former Dong Anh district (now Dong Anh commune), a land plot with an area of 59.9m2, a road width of 3.5m, about 600m from Dong Tru bridge, 900m from Tu Lien bridge and about 800m from the National Exhibition Fair Center and Vinhomes Co Loa new urban area, is being offered for sale at 99.5 million VND/m2, equivalent to nearly 5.96 billion VND/plot.
At Mai Hien resettlement land area, Dong Anh commune, a 56m2 land plot, located on a 7.5m wide road, about 2km from Dong Tru bridge and about 1.5km from the National Exhibition Fair Center and Vinhomes Co Loa new urban area, is currently offered for sale by brokers at a price of 145 million VND/m2, equivalent to about 8.12 billion VND/lot.
Also in this area, another land plot with an area of 59m2 in Luong No village, former Tien Duong commune (now Dong Anh commune), with a frontage of 4.4m wide, located near the expanded Ring Road 3, is being offered for sale at a price of about 5.6 billion VND, equivalent to 94.92 million VND/m2.
Notably, many land plots in Dong Anh area are currently offered for sale at prices exceeding 200 million VND/m2. Specifically, in Dong Hoi commune (now Dong Anh commune, Hanoi), a corner land plot with an area of 80m2, about 900m from Tu Lien bridge, is being offered for sale at 235 million VND/m2, equivalent to about 18.8 billion VND/plot.
In Dong Tru village (Dong Anh commune), a land plot with an area of 80m2, located near Dong Tru bridge, is currently being offered for sale by brokers at a price of about 20.86 billion VND, equivalent to 260.75 million VND/m2. Meanwhile, another land plot with a 5m frontage, located on Vo Nguyen Giap street, near the foot of Nhat Tan bridge and Co Loa Vinhomes urban area, with an area of 90m2, is being offered for sale at a price of 18.7 billion VND, equivalent to about 207 million VND/m2.
Talking to Lao Dong Newspaper, Mr. Nguyen Van Dat - real estate broker in Dong Anh commune - said that the land price level in many areas in the area has been pushed to a high level, making it increasingly difficult to find cheap land plots. According to Mr. Dat, it is currently very difficult to find land priced below 50 million VND/m2 in Dong Anh commune, even in deep-lying areas in the village.
According to this broker, the main reason is that Dong Anh is being heavily invested in infrastructure, causing land prices to continuously increase. If looking for land plots with lower prices, buyers are forced to move to further areas.
Mr. Dat also said that although there was a period of stagnation, land prices in Dong Anh are tending to increase again as a series of large infrastructure projects are preparing to be implemented. In which, the access road to Tu Lien bridge is expected to be accelerated after Tet, along with traffic projects connecting Hanoi with Hai Phong, Quang Ninh expected to start construction in the near future.
Brokers recommend that buyers should consider their financial capacity, because the land plot segment under 4 billion VND is currently increasingly scarce and there are almost no more choices in this area.
From a market perspective, Mr. Nguyen The Diep - Vice Chairman of the Hanoi Real Estate Club - said that investment cash flow is trending to shift, seeking new segments and areas.
According to him, investors with financial potential are gradually turning to the suburban area, because in the central area of Hanoi, investment opportunities are almost gone when real estate prices, from apartments to townhouses and villas, have been pushed to very high levels.
