Mr. Nguyễn Quang Hưng - a real estate investor in Hanoi - said that after many attempts to find opportunities to invest in land in the suburban areas of Hanoi without success, at the end of July 2024, he decided to purchase an 80m2 plot of land in Hưng Yên at a price of 24 million VND/m2.
According to Mr. Hưng, after many days of "land hunting," he realized that with around 2 billion VND, it would be very difficult to find plots of land in prime locations in the suburban areas of Hanoi.
Meanwhile, if he buys land in Hưng Yên, Mr. Hưng has many options in beautiful areas, with wide roads and high potential for price increases because the land prices here are still quite cheap.
However, Mr. Hưng affirmed that bringing money to the provinces to buy land requires long-term investment as it is very difficult to flip properties quickly like in big cities. Therefore, those using financial leverage need to carefully consider when buying provincial land.
Similarly, Ms. Bùi Thị Phương Mai (38 years old, an investor in Hanoi) also shared that real estate prices in Hanoi are currently too high, requiring large capital and accepting risks, making it difficult to achieve high profit margins. Therefore, Ms. Mai and her investment group decided to move to localities with good infrastructure and convenient transportation to buy.
Specifically, at the beginning of June 2024, she bought 2 plots of land in Tuyên Quang, each 100 m2, at a price of 12 million VND/m2.
"Although it is difficult for land fever to occur in the provinces, and investment profits are unlikely to spike, the total investment is small, only 1.2 billion VND per plot. This is definitely a good way to preserve money at this time because land prices in localities are still cheap," Ms. Mai assessed.
Mr. Nguyễn Đức Hùng - a broker in Hanoi - said that since the beginning of 2024, besides investors looking for opportunities in the suburban areas of Hanoi, many people have been heading to provinces like Hưng Yên, Bắc Ninh, Bắc Giang, Hòa Bình, Tuyên Quang... to find opportunities to invest in land plots, waiting for the next price increase.
Experts believe that although the real estate market has not yet become vibrant again, land plots in the provinces are still the "favorite dish" that investors are most interested in. This segment is easy to invest in and has high profit potential.
Research on real estate consumer psychology (CSS) by the Batdongsan website in the first half of 2024 shows that among 1,000 survey participants, 65% said they would continue to buy real estate in 2024. Of these, about 1/3 are interested in land plots.
Mr. Lê Đình Chung - General Director of SGOHomes - said that recently, the real estate market has mainly been active in the northern region.
According to Mr. Chung, starting from March 2024, the northern provincial markets have gradually improved. Up to now, the market is not too vibrant but still maintains a positive pace.
One of the best provincial markets currently is Hưng Yên, with a price increase of 30 - 50% in the first half of this year. Additionally, there is Bắc Giang land.
Currently, investors are gradually moving to the provinces around Hanoi, following economic corridors related to industrial zones, provinces with developed economies, and developed transportation routes such as Bắc Ninh - Bắc Giang; Hưng Yên - Hải Dương - Hải Phòng - Quảng Ninh. These will be potential provincial markets in the near future.
