Talking to Lao Dong reporter, Ms. Nguyen Thi Mai (owner of a plot of land in Uy No commune, Dong Anh district) shared that nearly 2 years ago, she thought about selling at a loss to get money to invest and do business. However, since the beginning of 2024, when real estate projects here have started to be implemented, land prices have shown clear signs of recovery.
"Recently, some investors are asking to buy back the land at a price about 9-10% higher than before," said Ms. Mai.
Similarly, Mr. Trinh Van Duong (living in Thach That district, Hanoi) informed that after the COVID-19 pandemic, many landowners here continuously posted ads for sale at a loss, but now there are almost none. Rarely, some landowners facing financial difficulties are reducing prices and selling at a loss at this time.
Research by Lao Dong reporters shows that the revival of suburban land comes from the synchronous development of transport infrastructure and urban planning. Accordingly, major transport projects such as Ring Road 4, Nhon - Hanoi Railway Station metro... have created a strong "attraction" for the segment.
Another factor is the trend of population dispersion and the need to own real estate in the suburbs. Ms. Nguyen Thi Minh Huong - a long-time real estate investor in Hanoi - said that when the price of real estate in the inner city increases, many people increasingly prefer spacious and airy living spaces in the suburbs. With an increasingly synchronized transportation system, combined with policies to encourage infrastructure investment, the suburban land market is becoming more attractive.
For example, a recent survey by Batdongsan.com.vn showed that the number of investors looking into the land segment near the Ring Road 4 Project has increased by about 30% compared to previous quarters.
In suburban districts of Hanoi where the Ring Road 4 project passes through, such as Soc Son, Me Linh, Thanh Oai, Dan Phuong districts... depending on the area, the transaction volume also increased by 10-20% compared to the months of the third quarter of 2024.
Referring to this content, Ms. Trang Bui - General Director of Cushman & Wakefield - commented that the land segment is often very sensitive to market information, planning of new traffic routes, large real estate projects, and planning of industrial parks.
According to experts, when this information appeared, the land market in the suburbs of Hanoi immediately increased in price, easily leading to a virtual fever. People who want to buy land in the suburbs of Hanoi should not invest massively following the crowd, and need to be extremely careful about the risk of "burying capital" when hastily investing in products during the price fever, lacking real use value.
