In August 2024, one of the localities that initiated the "auction" of land in the outskirts of Hanoi is Thanh Oai district.
Specifically, the district organized a successful auction of the right to use 68 plots of land in the Ngõ Ba area, Thanh Thần hamlet, Thanh Cao commune, Thanh Oai district on the previous day (10.8).
Many plots of land that were auctioned off increased by nearly a dozen times compared to the starting price. There was a plot with a starting price of 12.5 million VND/m2 that was auctioned off for 100.5 million VND/m2, eight times the starting price.
According to the investigation of PV Lao Động, in the auction at Thanh Oai district, customers and investors were present at the auction site from very early on to line up, register, receive a code, and a ticket...
Information from the organizing committee stated that a total of nearly 1,500 customers with over 4,000 files participated in the auction. This is the most attractive auction, with the largest number of participants to date. Notably, the auction took place dynamically and lasted for nearly 4 hours.
The total amount of money that Thanh Oai district earned from the auction of land use rights in this round is 404.6 billion VND, with a price difference of 349 billion VND.
Mr. Nguyen Cong Quang, Director of Thanh Oai District Land Development Center, stated that this is the first auction of the year 2024 of Thanh Oai district, generating revenue for the district to invest in rural infrastructure and build new rural areas.
Earlier, at Dan Phuong, the district's land development center also successfully organized the auction of 85 plots of land, including a plot with a winning bid of 99.2 million VND/m2.
In an interview with PV, Mr. Le Van Manh, Director of Dan Phuong District Land Development Center (TP. Hanoi), stated that there were over 1,000 sets of files participating in the auction of 85 plots of land.
The auction was successful. The plots of land that were auctioned off at high prices were located in beautiful positions, with plots at the corner of a major road.
In the near future, on August 19, Hoai Duc district will hold an auction of 19 plots of land in the Lòng Khúc area, Tiền Yên commune. The area of each plot of land is from 74 to 118 m2, with a starting price of 7.3 million VND/m2. The auction site is the conference hall of Hoai Duc district's cultural, information, and sports center.
More than a week later, on August 29, Phuc Tho district will hold an auction of 30 plots of land in the Dộc Tranh area, Trạch Mỹ Lộc commune, and 9 plots of land in the Đồng Phươm area, Thọ Lộc commune. The auction is expected to take place at the conference hall of Phuc Tho district's cultural, information, and sports center.
In Soc Son, the district's People's Committee has issued a decision on the auction of 16 plots of land in the Đầm Ngái area, Xuân Lai hamlet, Xuân Thu commune. The plots of land have an area of 110-220m2.
Mr. Nguyen The Diep, Vice Chairman of the Hanoi Real Estate Club, explained that the regulations on the annual land price table in the 2024 Land Law may cause the price of real estate to rise. Therefore, many investors are rushing to buy land before the new price table is applied on January 1, 2026.
"In addition, the plots of land that are auctioned off are usually priced at around 3 billion VND or less. This is a price range that is easy to sell and suitable for many people's financial conditions," Mr. Diep said.
Furthermore, the expert also stated that the districts in the outskirts of Hanoi have a large advantage in terms of land resources and development potential.
Taking advantage of the relatively optimistic market sentiment in the first half of this year, the district leaders will not miss the opportunity to increase revenue for the local budget.
