According to Lao Dong reporters, in contrast to the apartment segment, many plots of land in the suburbs of Hanoi are currently being sold at a loss of hundreds of millions of VND per plot, but it is also difficult to sell them.
Mr. Nguyen Van Luong (44 years old, Thach That district, Hanoi) said that he is having many difficulties in selling a plot of land of more than 102 square meters in Binh Yen commune.
Accordingly, this land was bought by Mr. Luong to catch the investment wave at the end of 2019 for 2.5 billion VND. However, up to now, because he no longer needs to use it, he is selling it at a loss of 400 million VND, only 2.1 billion VND/lot, equivalent to 20.5 million VND/m2.
"Although I have been selling at a loss day and night and asking brokerage offices in the area to find interested customers, currently, my land plot only has people asking for information, no one has come to buy it yet," said Mr. Luong.
Similarly, an owner named N.D.T (phone number 0375888xxx) also advertised a 65m2 plot of land for sale in Binh Yen commune (Thach That district, Hanoi). This person said that the plot of land is located on a clear road, cars can access the door, surrounded by full facilities such as schools, offices, and markets, and it only takes about 5 minutes to get to FPT University.
Also quickly selling a plot of land, Mr. Tran Huu Bang (Dan Phuong district, Hanoi) informed that due to needing capital to do business in other fields, he is quickly selling a 65m2 plot of land, at a price of 1.9 billion VND, equivalent to 30 million VND/m2 in Lien Ha commune.
According to Mr. Bang, the land has a red book in the owner's name, if the customer decides to buy, he will reduce the price by 200 million VND. However, Mr. Bang is very frustrated because he has asked many real estate brokers to post the information, but so far, only a few customers have asked for information but no one has decided to buy.
According to Lao Dong reporters' research, it is currently very difficult to verify information about landowners "cutting losses" on land prices. Furthermore, despite the large number of advertisements, there is still no actual transaction data on the land segment in the suburban districts of Hanoi.
Mr. Tran Hoang (real estate broker in Hanoi) said that from the beginning of 2024 until now, the land segment in the suburban districts of Hanoi is attracting many people's attention.
According to Mr. Hoang, although there have been signs of improvement, in many districts far from the center of Hanoi, there is still information about land being sold at a loss due to urgent need for money. This is the result of investing in infrastructure, suspended projects, and planning that has been behind schedule for many years.
Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - commented that those who advertise land plots in the suburbs of Hanoi at "deep loss" prices of hundreds of millions of VND/plot may be speculative investors, using financial leverage and bank loans.
Before making a purchase, people need to carefully study the legal status and current real price of the land plot, avoiding the situation where investors advertise to sell at a loss to attract people's interest and easily sell off the goods. It is expected that from 2025 onwards, the land market in Hanoi will enter a cycle of price increase and recovery.
