The Hung Yen real estate market is attracting a lot of attention with land auctions at the beginning of the year. Accordingly, on March 5, the People's Committee of Dan Tien commune (Khoi Chau district, Hung Yen province) coordinated with Vietnam Auction Joint Stock Company to organize an auction of the right to use 41 plots of land.
It is known that the area of these 41 plots of land ranges from 74 - 133m2 with a starting price of 25 - 48 million VND/m2. The auction created great attraction in the market when it attracted 1,200 entries and hundreds of direct bidders.
At the end of the auction, the highest winning price was up to more than 158 million VND/m2, the lowest average price was 66 million VND/m2. Both of these winning levels are far above the starting price.
Previously, the Hung Yen land auction market also had an extremely exciting land auction taking place right after the Lunar New Year holiday. Accordingly, on February 9, Lac Viet Joint Stock Auction Company organized an auction of 273 plots of land in the Northern Residential Area of An Thi Town (Hung Yen).
The area of the plots ranges from 90-295 m2, with starting prices from 19.2 - 31.2 million VND/m2. The auction attracted more than 4,000 customers to attend. All 273 plots of land were successfully auctioned with winning prices from 36 - 120 million VND/m2, far exceeding the starting price.
Not stopping there, the Hung Yen auction land market is expected to continue to be bustling when hundreds of plots of land in districts such as Kim Dong, Tien Lu, Phu Cu... are about to be auctioned.
Commenting on the fact that the winning price for land auctions in Hung Yen has continuously reached high levels, Mr. Le Hoang Minh, a real estate investor in Cau Giay (Hanoi) said that the high price level for land auctions in Hung Yen is not surprising, because land in large urban areas of this province is still priced about 30 - 50%, even 70% higher than auctioned land, thanks to the accompanying utility and service system.
"With the advantage of bordering Hanoi and the strong economic growth rate in recent times, Hung Yen is becoming an attractive destination for investment cash flow, especially when real estate prices in Hanoi have increased too much. I think that in the next 1-2 years, when the infrastructure connecting to Hanoi is more complete, land prices here will increase sharply," said Mr. Minh.
Speaking with Lao Dong, Mr. Le Dinh Chung - Member of the VARS Market Research Working Group, General Director of SGO Homes commented that Hung Yen is oriented to become the province with the largest industrial park land fund in the country, creating favorable conditions for economic and real estate development.
At the same time, this province is also located on key traffic routes, with a continuous infrastructure system that is strongly invested in, helping to conveniently connect with Hanoi and other key areas. In particular, the Hung Yen market has only received attention since mid-2024, so there is still much room for growth in the future.
Mr. Nguyen Van Dinh, Chairman of the Vietnam Real Estate Brokers Association, recommended that when land auctions with high prices continuously appear, investors need to keep a cold head, stay alert, not chase fevers, and follow the crowd psychology. alertness helps investors choose products that suit their financial capacity and choose products with guaranteed legal status.
