The real estate market in areas along belt routes, especially Ring Road 4 (Hanoi), is witnessing a strong increase in land prices. The acceleration of land prices in a short time is said to come from great expectations for transport infrastructure, but also carries many risks of speculation and virtual price levels.
According to the survey, in some areas such as Me Linh district, Hoai Duc, areas where the Ring Road 4 passes through, it shows that land prices have changed significantly after just over a year.
In Hoang Kim commune (Me Linh district), Ms. Tran Thi Hanh, a resident who is selling a piece of land near the planned area of Ring Road 4, said that more than a year ago, the land here was only about 20 million VND/m2. Recently, the selling price has been nearly 30 million VND/m2, and some locations near major roads can be up to 35-40 million VND/m2. "The plot of land I am holding was initially scheduled for sale at 1.45 billion VND, but someone advised me to wait because the price is rising, now I can advertise it at around 1.65 billion VND," said Ms. Hanh.
In Song Phuong commune (Hoai Duc district), Mr. Le Minh Dung, a personal investor who bought it since the end of 2023, said that this area attracts many people to buy land because the price is still within reach. "When I bought it, it was about 1.6 billion VND/plot of 60m2, now the broker said I could resell it for about 2.3-2.5 billion VND because I was about to expand the connecting route to Ring Road 4, which has great potential," Mr. Dung added.
According to some brokers in Hoai Duc, Me Linh, Thuong Tin and Thanh Oai areas - hot spots around Ring Road 4, from the beginning of 2025 until now, the number of land purchase calls has increased 2-3 times compared to the same time last year. However, many people just "asked to play", waiting for the price situation. Some brokers admitted that they only asked to know more information, because they saw the selling price was too high, worried that the market would see price inflation.
Mr. Pham Van Long - a broker who has been closely following the market in Dong Anh, Me Linh and Hoai Duc areas for many years, said that land prices around Ring Road 4 have increased quite strongly compared to before the detailed planning information was available. Many areas that were advertised for sale at 18 - 22 million VND/m2 just a year ago have now been pushed up to 30 - 35 million VND/m2, even exceeding 40 million in prime locations.
Mr. Long warned that the phenomenon of speculation has pushed up the land price level in the area. "Some groups buy land and then sell it at a higher price than the general level, creating a feeling of scarcity, making people think the price is really rising but paying. In fact, there are many lots that have been advertised for many months without real transactions, but the price is still pushed up to keep the price high," he said.
Mr. Long also noted: Investors need to carefully check documents, legality, and planning, avoid buying based on emotion because they hear that there will be a road or a price increase. Be careful with the waves of speculators, because when the market corrects, those who come in later are often the ones who suffer the most, Mr. Long emphasized.
According to experts, the phenomenon of increasing land prices around the ring roads, if mainly comes from the expectation and psychology of fear of missing opportunities without synchronization of technical and socio -economic infrastructure. PhD. Nguyen Van Dinh - Chairman of Vietnam Real Estate Brokerage Association - said: "Market history has proven, whenever the planning information is available, the land price increases hot. But if there is no real development platform, investors are prone to capital or loss when the market adjusts."
