After nearly 2 years of quiet, the land segment is receiving attention from investors. The number of land searches in Hanoi as well as some neighboring provinces in Hanoi has increased significantly.
According to statistics from the Vietnam Association of Real Estate Brokers (VARS), the land market is showing signs of recovery and investor confidence is gradually increasing.
Many investors started hunting for land in areas on the outskirts of big cities. These are localities with strong infrastructure development and high urbanization rates with prices considered to be quite bargains, with plenty of room for growth in the future.
Along with the warming of the land segment, many people have decided to take profits on their investments. Mr. Nguyen Duc Tu (in Ha Dong district - Hanoi) said he recently decided to take profit on his land investment after 5 years of down payment to earn billions of profits.
Mr. Tu shared that in mid-2019 he decided to spend money to buy a plot of land with an area of 51m2 in the Yen Nghia area, Ha Dong, Hanoi at a price of 17 million VND/m2.
By the end of June 2024, he decided to take profit on his land investment at a price of 2 billion VND (equivalent to nearly 40 million VND/m2).
Meanwhile, after many months of research, but apartment prices did not decrease or even increased, Mr. Nguyen Van Dong (in Xuan Thuy, Cau Giay) - a real estate investor - turned to land hunting.
Talking to reporters, Mr. Dong said that at the end of last year, land prices in many areas had decreased by 20-30%, even 40% compared to the peak of the fever. With just less than 10 billion VND, he collected 2 plots of land in Bac Giang and 1 plot of land in Dong Anh (Hanoi).
According to Mr. Dong, in early May, his 100m2 plot of land in Dong Anh was paid by many buyers, a difference of 1.1 billion VND compared to the purchase price, but he has not sold it yet.
Similarly, Ms. Vu Thi Minh (in Bac Tu Liem) said she bought a 90m2 plot of land for investment in Hoai Duc, Hanoi. When she bought it (September 2023), the price was nearly 5 billion VND. In May this year, a customer came to buy and paid a difference of 1.2 billion, which she quickly transferred. Holding more than 6 billion in money, she is looking for new opportunities.
The above is just one of a few land transactions that have occurred in recent times. According to the Ministry of Construction, in the first half of 2024, there will be over 253,000 successful transactions, equivalent to 110.26% compared to the last 6 months of 2023, of which the transaction volume mainly focuses on land.
The reason is said to be due to the high increase in apartment prices and the scarcity of goods, causing interest in the land segment, and the selling price also increased sharply.
Some experts said that exciting transactions have caused land prices to tend to increase. Land has become one of the prominent highlights in the real estate market picture in the first 6 months of 2024 and is progressing faster than previous forecasts, the level of interest in land increased by an average of 33%.
Particularly in Hanoi, Dong Anh district has a sharp increase in interest with 104%, Quoc Oai 101%, Gia Lam 95%, Hoai Duc 79%, Thach That 48%. Increased interest led to increased selling prices: Dong Anh increased prices by 24%, Quoc Oai increased by 20%, Hoai Duc increased by 19%, Thach That increased by 13% and Gia Lam increased by 4%.
