According to recent statistics from a real estate website, the average land price in the Northern market has increased from an average price of VND 27 million/m2 in the first quarter of 2021 to VND 46 million/m2 in the third quarter of 2024. Land in suburban areas of Hanoi is recording the highest price fluctuations in the market.
In particular, compared to the beginning of 2023, land in Hoai Duc district increased by 81%, from an average price of 55 million VND/m2 in January 2023 to 100 million VND/m2 in September 2024.
During the same period, land in Dong Anh district increased by 53%, from an average price of 41 million VND/m2 to 63 million VND/m2. Land in Thanh Oai district increased by 90%, from an average price of 21 million VND/m2 to 40 million VND/m2.
Mr. Tran Van Ha (owner of a plot of land in Thach That district, Hanoi) shared that because he had some idle money, his family just decided to buy a plot of land for 1.5 billion VND/plot in Chang Son commune (Thach That district).
After researching the apartment and house segments in the alley, Mr. Ha paid to buy the above plot of land with the aim of waiting for the price to increase over time. Due to its location far from the center of Hanoi, according to Mr. Ha, the plots of land here have not increased in price too much yet, and are attracting the attention of many investors, who have placed deposits to buy.
Although she did not post an advertisement for sale, Ms. Tran Thi Mong (60 years old, living in An Khanh commune, Hoai Duc district) said that recently, many investors have come here to hunt and ask to buy her family's land plot.
"The plot of land is 40 square meters wide and has a red book in the owner's name. Although my family has no intention of selling, recently many investors have called to ask for the price, expressing their desire to buy it for 1.8 billion VND" - Ms. Mong said.
However, Lao Dong reporters' research shows that although the selling price is continuously pushed up by landowners and brokers, there is still no specific data on actual transactions of land plots in suburban districts of Hanoi.
Mr. Le Dinh Chung - General Director of SGO Home - said that information from the district to the district, the fact that many "real estate" super projects are being implemented and the infrastructure system is receiving investment attention has contributed to the revival of the land and residential land segment in the suburbs of Hanoi in recent times.
However, according to Mr. Le Dinh Chung, investors still need to be cautious, avoid being caught up in infrastructure planning information, virtual land fever in the context of the real estate market still in the recovery stage. In some places, there is even a phenomenon of groundless land price increases.
Speaking with Lao Dong, Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - commented that the land segment with a price range of 2-3 billion VND/plot is attracting attention.
According to experts, investors who intend to invest capital and buy and sell land in suburban districts of Hanoi such as Dong Anh, Hoai Duc, Thach That to follow project information and catch the investment wave need to determine that this is a long-term investment, should not follow the crowd, and should not prioritize the use of financial leverage to avoid the risk of burying capital.
