The land market in the Northern region, especially the provinces surrounding Hanoi, is receiving strong interest from investors.
According to some land investors, investment safety is the top priority. Investors will look for clean plots of land with clear legal status, in strategic locations, with good infrastructure connections, near major traffic routes or areas near industrial centers, large metropolitan areas, etc. with long-term development potential.
With this “taste”, neighboring provinces of Hanoi such as Bac Ninh, Bac Giang, Hung Yen, etc. are sought after by many investors. In particular, Bac Ninh is considered a potential market thanks to its rapid urbanization rate and its position as a major industrial center.
According to a survey, the common price of land plots in many areas in the center of Bac Ninh currently ranges from 25-145 million VND/m2. In particular, in Tu Son town, the average land price is about 80 million VND/m2, and in Tien Du district, the average price is about 35 million VND/m2.
In Ha Nam, the attraction of this market comes from infrastructure and urban planning. Ha Nam is receiving strong investment capital thanks to transportation, urban and large urban area projects. In the city area, the price of land on large roads can reach up to 100 million VND/m2, while land in alleys of about 3-4m in the inner city area fluctuates around 30-40 million VND/m2.
In Bac Giang, land prices also fluctuate depending on the area. Some areas of Bac Giang city range from 23-40 million VND/m2, while Viet Yen district has an average price of about 27 million VND/m2.
In Vinh Phuc, with its infrastructure and tourism advantages, areas such as Vinh Yen, Tam Dao, Phuc Yen are attracting attention thanks to their proximity to Hanoi and potential for tourism and resort services. The common price of the new urban area Nam Vinh Yen is from 20-34 million VND/m2, the urban area Bac Dam Bac is about 35-88 million VND/m2 depending on location and area.
Regarding the trend of land investors, Mr. Hoang Tung - a real estate broker in Hanoi - shared: "The taste of experienced investors is often areas with low prices, with potential for future development, they are willing to put down money and wait for a few years when finding a suitable plot of land. Recently, the most popular type is rural land, primitive areas with prices of about 1-2 billion VND/plot of land.
As a long-time investor, Ms. Le Nhung (Tay Ho, Hanoi) said: “I want to divide my investments into smaller amounts. If I buy in Hanoi, with the current price level, it will be very difficult to buy a satisfactory plot of land for 1-2 billion VND. So I went to neighboring provinces and decided on a plot of land for more than 1 billion VND in Bac Giang. I am still researching areas in Bac Ninh and Hung Yen in the 2 billion VND price range. If there is a good product, I will decide.”
Commenting on the current real estate market, Mr. Le Dinh Chung - General Director of SGO Homes Real Estate Investment and Development Joint Stock Company - said that the cash flow at the end of the year will tend to shift, looking for new segments and markets. Recent market developments show that this shifting trend is gradually taking shape and is quite clear.
