According to Lao Dong reporters, after the Ring Road 4 project officially started and gradually took shape, the land market in the outlying districts began to warm up, and in some places, prices even increased by tens of millions of VND/m2.
Mr. Nguyen Van Binh - a long-time real estate investor in Hanoi - informed that land prices near Ring Road 4 have started to increase since the end of 2024. In particular, land prices in localities where Ring Road 4 passes through such as Thanh Oai, Hoai Duc, Me Linh, Thuong Tin (Hanoi) have also continuously increased.
However, according to Mr. Binh, the price of land along Ring Road 4 has continuously increased in recent times, but the number of actual transactions is still very low and small.
According to the reporter's investigation, in Nhi Khe and Ninh So communes (Thuong Tin district), currently, land prices on major business roads range from 90-95 million VND/m2, an increase of 20% compared to the beginning of 2024.
In Hoai Duc district (Hanoi), the price of land and houses in alleys in areas where Ring Road 4 passes through such as Duc Thuong, Duong Lieu, Tien Yen communes... has increased by 20-30% compared to early 2024, to 50-60 million VND/m2.
Notably, land prices located on the street front in the central area of Hoai Duc district have now increased to 100-130 million VND/m2, an increase of about 20-25% compared to early 2024.
Batdongsan.com.vn also reported that from September 2024 to now, land prices along the Ring Road 4 Project have begun to grow again. During this period, the number of investors looking into land along the Ring Road 4 Project (Hanoi) has tended to increase by about 30% compared to previous quarters.
Notably, in areas where the Ring Road 4 Project passes through such as Soc Son, Me Linh, Thanh Oai, Dan Phuong districts... land prices also increased by 10-15% depending on the area.
According to Mr. Nguyen Van Dinh - Chairman of the Vietnam Real Estate Brokers Association (Vars), the land market in the suburbs of Hanoi is in the recovery phase, with few actual transactions.
Experts believe that in the near future, when the real estate market recovers, along with the positive effects from auctions, land in the suburbs of Hanoi will have the opportunity to increase in price but there will no longer be a phenomenon of "virtual fever" or real estate "bubble".
Analysts say that before spending money, investors and buyers need to carefully research the price history, legality, and progress of the Ring Road 4 Project to avoid future risks.
