In 2024, Hanoi's real estate market will be the focus of the whole country. Segments such as land, apartments, private houses, etc. in Hanoi will all increase sharply in price, reaching an average increase of about 40%, the highest in history.
Particularly for land, from the third quarter of 2024 to present, the market has witnessed land auctions in the suburbs of Hanoi with thousands of applications participating each session and winning prices dozens of times higher than the starting price. Interest in auctioned land has increased, adding heat to the market.
Faced with the strong increase in land prices in Hanoi and some other segments such as private houses and apartments, many real estate investors have shifted their focus to suburban areas, neighboring provinces of Hanoi, and "low-priced areas" to buy real estate at low prices, expecting future price increases.
Mr. Hoang Tung - a real estate broker in Hanoi - shared: "Land prices in Hanoi have increased quite strongly recently. In the suburban districts, the market is recording an investment trend following infrastructure construction projects and projects of some real estate "big guys". Especially, in areas with Ring Road 4 and Ring Road 3.5 running through, customers' interest in these areas is always very good".
Mr. Tung also said that recently, many customers have tended to move to neighboring markets of Hanoi such as Bac Ninh, Bac Giang, Ha Nam. "The prices in these areas are still quite low, so there is a lot of investment potential. In the coming time, these provinces will be strongly affected and directly benefit from the spreading heat of the Hanoi market" - Mr. Tung said.
As a long-time land investor in Hanoi, Mr. Le Minh (Cau Giay, Hanoi) said: “The current land price in Hanoi is too high, the price in the suburban districts has also increased sharply in recent times, the investment potential is not much, so I went to the provinces near Hanoi to buy land and residential land. Currently, land and residential land in the provinces near Hanoi still have a “low” point in price after a period of market stagnation”.
Mr. Minh said that his search target is plots of land with full legal documents, clear planning, low prices and potential for price increase. Mr. Minh shared that he has bought 2 plots of land with prices of 1.5 - 2 billion, area of 45m2 - 60m2 in Bac Ninh and expects to be able to close the profit in the next 1-2 years when the heat of Hanoi spreads to the neighboring provinces.
Meanwhile, Ms. Nguyen Trang (Tay Ho, Hanoi) chose Bac Giang province. “Bac Giang is strongly influenced by the Hanoi market. The supply in Bac Giang city is not much, if you want to invest at a low price, you have to look for areas that are still in their infancy, have not experienced price waves, investment waves, then I think the potential for price increases will be very good. Recently, I bought a plot of land for 1.1 billion VND, an area of over 70m2 in Viet Yen town, Viet Yen district. In the future, if I find a suitable plot of land at a good price, I will continue to consider investing more" - this investor shared.
Forecasting the land segment, Mr. Pham Duc Toan - CEO of EZ Real Estate Investment and Development Joint Stock Company (EZ Property) - said that currently, some investors have begun to shift their investment trend to provinces and cities with good economic growth, synchronous infrastructure and relatively low prices. "From the second quarter of 2025, the real estate market in the provinces in general, and the land segment in particular, will achieve better liquidity and become more vibrant" - Mr. Toan commented.
