The land market in the North, especially the areas around Hanoi and neighboring provinces such as Hung Yen, Bac Ninh, Hoa Binh, Thai Nguyen, has entered a heating phase since mid-2024. In some areas, land prices and interest have increased sharply.
One of the highlights of the market is the phenomenon of "waves" of land auctions. Land auctions in Quoc Oai, Hoai Duc, Thanh Oai... attract a large number of investors to participate. This phenomenon not only attracts the attention of investors but also stimulates land prices in neighboring areas.
In addition, transport infrastructure projects and megacities have also created a strong "investment wave". Some suburban districts of Hanoi, where Ring Road 4 and Tu Lien Bridge are about to start construction, are becoming the focus with land prices skyrocketing in just a few months.
According to a survey by Lao Dong Newspaper reporters, in Dong Anh district, many plots of land in communes such as Hai Boi, Vinh Ngoc... have recently been offered by owners for prices exceeding 100-150 million VND/m2. In Dan Phuong district, land in some areas such as Tan Lap and Tan Hoi streets is currently being offered for sale at around 55-65 million VND/m2, an increase of about 20% compared to the beginning of the year. In Hoai Duc district, the price of houses and land in alleys in Duc Thuong, Duong Lieu, and Tien Yen areas has reached 50-60 million VND/m2, an increase of 20-30% compared to the beginning of the year.
Not only Hanoi, neighboring provinces such as Hung Yen, Bac Ninh, Bac Giang, Hai Duong, Phu Tho, Hoa Binh ... also benefit from the wave of infrastructure investment and the heat of the Hanoi market. In particular, Hung Yen with large urban projects such as Ecopark, Vinhomes Ocean Park, Hung Yen - Thai Binh highway ... has recorded a significant increase in land prices this year.
Although the land market is heating up, experts say that the heating up of the market is only happening locally in some areas, the real estate market in general and the land segment in particular are still quite quiet.
Assessing the recent "wave" of land in the suburbs of Hanoi, Mr. Le Dinh Chung - Member of the Market Working Group of the Vietnam Real Estate Brokers Association - said that the "wave" of land is only localized in some areas on the outskirts of Hanoi and has not spread to many areas.
By the second quarter of 2025, the land market may witness more even development in many places. However, investing in land at the present time requires a medium-term vision, with a capital recovery period of at least 1 to 3 years, instead of expecting a quick "surf".
Sharing the same view, Mr. Nguyen Quoc Anh - Deputy General Director of PropertyGuru Vietnam - also predicted that from the second quarter of 2025, the land segment in Hanoi in particular and the whole market in general will achieve better liquidity and be more vibrant. Land, along with project villas, will lead the market.
The expert said that after the 2024 Land Law came into effect, the land market had many major changes from supply to transaction activities. The land segment developed in a more positive direction.
To invest effectively, experts recommend that investors choose areas with clear legal status, synchronous infrastructure and real exploitation potential, instead of chasing short-term waves. In addition, local authorities also need to strengthen the management of land auctions and planning information to avoid real estate price bubbles.
