According to Lao Dong reporters' investigation, recently, many plots of land in Dong Anh and Gia Lam districts are being sold by their owners at high prices, exceeding 100 million VND/m2.
For example, a 60m2 plot of land in Mai Lam commune (Dong Anh district) is being offered by its owner for 6.4 billion VND, equivalent to about 107 million VND/m2. According to the owner, this plot of land is located near Dong Tru bridge, only about 15 minutes away from Hanoi's Old Quarter, and many investors are making appointments to see it.
Similarly, another 74.9m2 plot of land facing two roads in Kim Chung Commune (Dong Anh District) is being offered for sale at VND8.9 billion, equivalent to VND119 million/m2. This plot of land is advertised as being located in a densely populated residential area, convenient for business and trade.
Or in Gia Lam district, a 42m2 plot of land located on Ngo Xuan Quang street, where cars pass through, is being sold by the owner for 5.6 billion VND, equivalent to 133 million VND/m2.
Not far away, a 58m2 plot of land located in Trau Quy town (Gia Lam district) is also being sold by the owner for 7.8 billion VND, equivalent to 135 million VND/m2.
Ms. Nguyen Mai Hoa (a long-time land investor in Hanoi) said that the end of the year is the right time to buy land with clear legal status.
According to Ms. Hoa, this is a safe investment channel when the investment value is not too large and the profitability is good, especially in areas with strong infrastructure development.
In particular, the prices of subdivided plots of land located near major roads, near ongoing traffic and real estate projects are increasing month by month, and are even being increased by real estate brokers every month.
Many real estate experts believe that the land segment has escaped the bottom of price declines and is gradually becoming a popular investment channel again. However, investors are only hunting for auctioned land, while the land plots have been divided into plots, in areas with completed infrastructure, and the price level is not too high.
Notably, the regulation on tightening the subdivision and sale of land plots in special, type I, II, and III urban areas from August 1, 2024 according to the 2023 Real Estate Business Law may reduce land trading activities in the short term, limit supply in the market, and push up the price of existing subdivided and separated land plots.
Mr. Pham Duc Toan - CEO of EZ Real Estate Investment and Development Joint Stock Company (EZ Property) - analyzed that when the minimum area for land division is increased, investors will have to spend a lot of effort and capital to buy a large enough piece of land, which will lead to higher prices for land plots after being divided and subdivided.
