By the end of 2024, land in Hanoi and neighboring provinces such as Bac Giang, Bac Ninh, Hoa Binh, Hung Yen, and Ha Nam will see a revival. According to a survey, in Bac Giang, land prices in areas near industrial parks such as Van Trung and Quang Chau have increased sharply.
In Bac Giang city, land prices range from 90 to 120 million VND/m2. Some key routes such as Quang Trung and Nguyen Thi Luu recorded higher prices, from 95 million VND/m2 and up. Viet Yen district, where many industrial parks are concentrated, currently has an average price of about 30 million VND/m2, an increase of about 15% compared to the beginning of the year.
In Bac Ninh, areas near the city center and large industrial parks such as Tu Son and Yen Phong witnessed significant increases. In particular, Tu Son town recorded an average land price of about 40 million VND/m2, an increase of 10% compared to early 2024. Tien Du district had prices fluctuating around 35 million VND/m2, an increase of about 12%.
Hung Yen and Ha Nam also attracted attention thanks to a series of large infrastructure projects. The Van Giang and Phu Cu areas in Hung Yen or Duy Tien and Phu Ly in Ha Nam all witnessed increased transaction volume, leading to escalating land prices. Notably, in Phu Ly city, land prices on main roads in some places exceeded VND200 million/m2, an increase of about 20% compared to 2023.
In the suburbs of Hanoi, Dong Anh, Hoai Duc, Gia Lam, and Dan Phuong districts have become hot spots with significant price increases. Many plots of land in Dong Anh, especially in communes such as Hai Boi and Vinh Ngoc, have reached the threshold of 100-150 million VND/m2, an increase of about 25% compared to the beginning of the year. Dan Phuong district recorded land plots on roads such as Tan Lap and Tan Hoi being offered for sale at prices ranging from 55-65 million VND/m2, an increase of 20-30%.
This upward trend is explained by the benefits from large infrastructure projects and high market sentiment. However, experts warn that the local heating of land plots does not reflect the overall “health” of the real estate market.
Mr. Nguyen Van Dinh - Chairman of the Vietnam Real Estate Brokers Association - commented that land transactions in the suburbs have increased in recent months but have not been really vibrant. Particularly, in the Northern region, some areas on the outskirts of Hanoi have shown signs of local fever, some areas have seen transactions increase and then stagnate. The market has seen more investors "hunting" for land. In addition, land auctions in some localities have also attracted much attention and impacted the market.
In this context, experts and people with many years of experience in the real estate sector recommend that investors stay alert and avoid following temporary trends.
According to some long-time real estate brokers, land is still an attractive investment channel thanks to its safety and ability to increase in price sustainably. Mr. Nguyen Van An - a real estate broker in Hanoi - with more than 10 years of experience, land is still a safe and attractive investment channel thanks to its ability to increase in price sustainably in the long term.
However, Mr. An warned that some areas are showing signs of "virtual overheating", when prices increase beyond the real value of real estate. "This is especially common in areas where infrastructure is not yet complete, transactions are mainly based on expectations. If not careful, investors may face the risk of losses when the market adjusts," Mr. An emphasized.
