According to Lao Dong reporters' research, recently, many investors have tended to move to suburban districts of Hanoi such as Thach That, Thuong Tin, Dan Phuong... to look for plots of land with prices listed below 30 million VND/m2.
Mr. Nguyen Van Long (40 years old, a long-time real estate investor in Hanoi) was also very surprised when many plots of land in the suburbs now exceed the threshold of 100 million VND/m2.
After spending a lot of time and effort searching, Mr. Long has just bought a plot of land in Thach That district with a low starting price, expecting the price to gradually increase over time.
"Instead of chasing the peak, I spent time looking for cheap plots of land in the suburbs of Hanoi, ranging from 20-30 million VND/m2, waiting for the price to increase over time. The plot of land I bought had a square area of 86.5m2 with a price of 2 billion VND, equivalent to more than 23 million VND/m2" - Mr. Long said.
Similarly, Ms. Nguyen Thi Ha (56 years old, living in Ha Dong district) shared that she wanted to buy land, but when she heard the advertised price in the suburban area of Hanoi, she was also shocked.
According to Ms. Ha, land prices in many places are skyrocketing. For example, along the road in Vinh Ngoc commune (Dong Anh district), land prices are being advertised for sale from 100-150 million VND/m2, depending on location. Meanwhile, residential land in some districts far from the center of Hanoi will be cheaper, ranging from 20-50 million VND/m2.
Research by Lao Dong reporters shows that, in fact, since the beginning of 2024, many investors have begun the process of hunting for land in the suburbs of Hanoi, areas with strong infrastructure development and high urbanization rates.
The land segment is often very sensitive to market information, planning of new traffic routes, large real estate projects, and planning of industrial parks.
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.
