According to Lao Dong reporters' research, recently, many investors have tended to go to suburban districts of Hanoi such as Thach That, Thuong Tin, Hoai Duc, Dan Phuong... to look for plots of land with advertised prices of 2-3 billion VND/plot.
Mr. Nguyen Van Minh - a long-time real estate investor in Hanoi - informed that after many times searching for land investment opportunities, at the end of October 2024, he decided to buy a 100m2 plot of land in Thanh Oai district for 2.2 billion VND, including transfer fees.
"Instead of chasing the peak, I spent time looking for cheap plots of land in the suburbs, ranging from 2-3 billion VND/plot, to wait for the price to increase over time because the land price here is still quite cheap," said Mr. Minh.
Similarly, Mr. Tran Hoang - a real estate broker in Hanoi - commented that the information about the district becoming a district and the infrastructure construction project is a big boost that makes land prices in the suburban district improve after a long period of gloom.
Notably, after a long period of cutting losses and reducing prices, the land segment priced from 2-3 billion VND/plot in the suburbs is attracting the attention of many investors.
Research by Lao Dong reporters shows that, in fact, recently, many investors have begun the process of hunting for land in the suburbs, areas with strong infrastructure development and high urbanization rates.
However, many real estate experts also recommend that investors should be cautious and avoid getting caught up in infrastructure planning information while the real estate market is still in the recovery phase. In some places, there is even a phenomenon of groundless land price increases.
Dr. Nguyen Van Dinh - Chairman of the Vietnam Association of Real Estate Brokers (VARS) - said that recently, the sudden increase in apartment prices in both the primary and secondary markets has prompted a group of customers to switch to real estate. Therefore, the real estate segment has been pushed up in price by brokers for profit.
Experts emphasize that in order to avoid falling into the trap of brokers and risking losing capital, investors and land buyers need to carefully research the legal documents, red books, and utilities surrounding the plot of land. They can even research and find the real landowner to make a transaction, avoiding being overcharged when buying and selling through intermediaries.
