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 Hiep (living in Thanh Xuan district, Hanoi) shared that because he had some idle money, his family just decided to buy a 70m2 plot of land for 2.3 billion VND/plot, equivalent to 34 million VND/m2 in Thuong Tin district for investment purposes, waiting for the price to increase over time.
Because it is located far from the center of Hanoi, according to Mr. Hiep, the land plots here have not increased in price too much and are attracting the attention of many investors.
Mr. Tran Hoang (real estate brokerage in Hanoi) shared that, over the past time, many investors went to the suburban district to hunt and buy land plots with prices below 50 million VND/m2 when real estate segments in the inner city such as houses in the alley and apartments continued to rise.
Many people even spend a lot of effort searching for suitable plots of land in districts such as Hoai Duc and Thanh Oai to finalize their purchase, combined with long-term investment and business.
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.
Referring to this content, many real estate experts said that investors who intend to invest capital, buy and sell land in suburban districts of Hanoi such as Dong Anh, Hoai Duc, Thach That to follow project information, catch the investment wave need to determine that this is a long-term investment, should not follow the crowd, should not prioritize the use of financial leverage to avoid the risk of burying capital.
Mr. Le Dinh Chung - General Director of SGO Home - commented that with information from the district to the district or many "real estate" super projects being deployed and the infrastructure system receiving investment attention, it has contributed to the revival of the land and residential land segment in the suburbs of Hanoi in recent times.
However, according to Mr. Chung, investors still need to be cautious, avoid being caught up in infrastructure planning information and virtual land fever in the context of the real estate market still in the recovery phase. In some places, there is even a phenomenon of groundless land price increases.
