Real estate in Dong Anh district (Hanoi) continues to have strong changes when a series of new urban area projects here are looking for investors.
Most recently, the Hanoi People's Committee issued a decision approving the list of projects to attract investment in the city in the first phase of 2024.
Notably, Dong Anh district has 6 urban area projects that the city is calling for investment in, including the following projects: New urban area G3 with a scale of nearly 80 hectares, total investment of 8,127 billion VND in Kim Chung and Dai Mach communes; New urban area G13 with a scale of more than 44 hectares, total investment of 3,113 billion VND in Mai Lam and Dong Hoi communes; New urban area G8 with a scale of 46.6 hectares, total investment of 3,153 billion VND in Kim No and Kim Chung communes; New urban area G17 with a scale of 20.6 hectares, total investment of 5,892 billion VND in Nam Hong commune.
In addition, Dong Anh district also has 2 social housing projects calling for investment: the new urban area - social housing Star City Tien Duong in Tien Duong commune with a scale of 44.72 hectares, total investment capital of more than 8,500 billion VND and the new urban area - social housing green connection city Green Link City also in Tien Duong commune with a scale of 39.5 hectares, investment capital of more than 5,800 billion VND.
With a series of information about projects "landing" in Dong Anh district in the coming time, Dong Anh real estate is expected to be the focus of the real estate market in the new cycle. After the Vinhomes Co Loa project "landed" here, Dong Anh land has established a new price level with an impressive increase.
Previously, according to a survey by Batdongsan.com.vn, compared to May 2024, up to now, Dong Anh land prices have increased by 15-30% depending on location, area, and region. According to historical data on land prices in Dong Anh district within 1 year, land prices here have increased by 60.2%, prices range from 25-220 million VND/m2 depending on the area and location.
Investor Nguyen Duc Nghia, residing in Tay Mo (Nam Tu Liem, Hanoi) - who has many years of experience investing in real estate in Dong Anh district - said that the number of people looking to buy real estate in Dong Anh and neighboring areas is increasing but the number of people selling is decreasing, especially after the news that Hanoi is looking for investors for large urban areas here. This further increases the price of real estate in Dong Anh because investors believe that it will be an important driving force.
Dr. Nguyen Van Dinh - Chairman of the Vietnam Association of Realtors (VARS) - commented that the actual number of real estate transactions in Dong Anh is similar to many other "hot" areas when prices increased but there were not many transactions. That makes investing in this area potentially high risk.
Therefore, investors need to be careful, especially not to use financial leverage because they may have to wait many years to have the opportunity to recover capital or make a profit.
