Sharing with Lao Dong reporter, Mr. Nguyen Van Nam (45 years old, living in Thanh Xuan district, Hanoi) said that after many searches, at the end of October 2024, he decided to buy a 66m2 plot of land in Hoai Duc district at a price of 2.9 billion VND, equivalent to 45 million VND/m2.
According to Mr. Nam, apartment prices in the center of Hanoi have recently reached their peak, with new projects in the suburbs exceeding 70 million VND/m2. Meanwhile, if he goes to the suburban districts of Hanoi to buy land for long-term investment, he will have many options and high potential for price increases because the land segment here still has many prospects.
Assuming that the suburban land segment is receiving attention from investors, Mr. Tran Hoang Viet (real estate broker in Hanoi) informed that most customers buying land in the suburbs of Hanoi at this time are people with idle cash flow, intending to move their place of residence, do business, and invest in long-term land following the wave of planning and infrastructure.
However, many real estate investment organizations also note that although the suburban land segment is receiving attention, investors should be careful because there are cases where real estate brokers and sellers have taken advantage of this opportunity to push up market prices, creating a virtual wave.
Real estate experts predict that real estate prices will increase after 2025. Despite positive signs, the land market still records some areas with unfounded price increases. Buyers need to pay close attention to this situation to avoid creating virtual fevers.
According to recent data analysis by PropertyGuru Vietnam, compared to the first quarter of 2023, land prices in the third quarter of 2024 in Dong Anh district increased from VND 41 million/m2 to VND 63 million/m2 (up 53%); land prices in Hoai Duc district increased on average from VND 55 million/m2 to VND 100 million/m2 (up 81%); land prices in Thanh Oai district increased from VND 21 million/m2 to VND 40 million/m2 (up 90%).
Real estate expert Dinh Minh Tuan commented that the Northern land market has recently recorded a local fever in some places. In particular, the level of interest and prices have increased sharply in the suburban areas of Hanoi thanks to planning factors, project implementation, and auction activities.
Experts also note that investors should not follow the crowd trend or ongoing infrastructure projects because it is easy to bury capital. Before deciding to buy land, investors need to carefully study the legal aspects and prioritize location, which determines the potential for price increase as well as the liquidity of that product in the future.
