In the last months of 2024, the land market in the suburbs of Hanoi is witnessing significant growth in both transactions and selling prices.
According to a survey by Lao Dong Newspaper reporters, in Dong Anh district, many plots of land in communes such as Hai Boi, Vinh Ngoc... have recently been advertised by owners at prices exceeding 100-150 million VND/m2. These communes were also the focus of previous land "fever" thanks to the benefits from large real estate projects that are about to be built and infrastructure completed.
In Dan Phuong district, land in some areas such as Tan Lap and Tan Hoi streets is currently being offered for sale at around 55-65 million VND/m2, an increase of about 20% compared to the beginning of the year.
In Hoai Duc district, the price of land and houses in alleys in Duc Thuong, Duong Lieu, and Tien Yen areas reached 50-60 million VND/m2, an increase of 20-30% compared to the beginning of the year.
Notably, in the last months of the year, land prices in some suburban districts, where the Ring Road 4 project runs through, have increased sharply. According to a survey by PropertyGuru Vietnam, land prices around Ring Road 4 are showing a clear upward trend. Compared to half a year ago, land prices in Me Linh in some urban areas such as Ha Phong, Cienco 5... have increased from 45 - 55 million VND/m2 to 55 - 64 million VND/m2.
For Dan Phuong land, land on Tan Lap street, the price also increased from 48 - 55 million VND/m2 to 54 - 65 million VND/m2; land on Tan Hoi street in Dan Phuong, the asking price is at 55 - 66 million VND/m2, an increase of 2 - 5 million VND/m2 compared to 5 months ago.
The psychology of "following" the Ring Road 4 route, the high land prices in some suburban districts of Hanoi such as Thanh Oai and Hoai Duc are also assessed to be due to the impact of record high land auctions.
Mr. Hoang Dong, a real estate broker in Hanoi, said: “In the past few months, land in the suburbs of Hanoi has received renewed attention. Customers need advice and are looking to buy more. Especially in areas far from the center, land plots with low prices are of interest to customers, with the purpose of buying for investment and expecting prices to increase in the future.”
Commenting on the land segment, Mr. Le Dinh Chung - Member of the Market Working Group of the Vietnam Real Estate Brokers Association (VARS) said that from April 2024 to now, land prices in the suburbs of Hanoi have increased locally, and some neighboring provinces such as Bac Giang, Hung Yen, and Bac Ninh have also increased by 10-20% compared to the bottom period.
The expert predicts that the land market will only see positive signs in the second quarter of 2025. Therefore, people who want to buy land at this time need to determine a long-term investment vision, avoid investing massively according to the crowd effect, and need to determine a medium-term capital recovery of at least 1-3 years, instead of short-term investment.
Sharing the same view, Mr. Pham Duc Toan - CEO of EZ Real Estate Investment and Development Joint Stock Company (EZ Property) - said that currently, only the Hanoi market is bustling, with prices of all segments increasing dramatically. Meanwhile, the real estate market in most provinces is still quite quiet.
"From the second quarter of 2025, the real estate market in the provinces in general and the land segment in particular will achieve better liquidity and be more vibrant," Mr. Toan commented.
