The land market is witnessing a resurgence after a long period of stagnation. Land prices in many areas on the outskirts of Hanoi and neighboring provinces increased sharply in 2024, attracting the attention of investors.
In 2024, land prices in suburban areas of Hanoi such as Hoai Duc, Dong Anh, Gia Lam, Dan Phuong will increase sharply. 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 at 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 sold for around VND55-65 million/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 is around VND50-60 million/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.
Sharing his investment views, Mr. Nguyen Van Hung - an investor in Cau Giay district, Hanoi - said that many investors are in a "wait and see" position and waiting for the right time.
“2024 is the market purification period. Whoever captures potential areas such as Dong Anh, Hoai Duc or Thanh Tri will have a big advantage. But I believe that in 2025, land prices will increase more strongly when the real estate market in general enters a period of recovery,” said Mr. Hung.
In particular, for areas that are about to become districts, investor interest is always high. Ms. Nguyen Thi Thanh - a real estate broker in the Hoai Duc area - said: "Currently, land prices have increased significantly compared to the end of 2023, but long-term investors are still waiting for clearer signals from the market. It is expected that 2025, when this area is officially upgraded to a district and the infrastructure is synchronously connected, will be a golden time for those who have a long-term vision."
In addition to the Hanoi market, the development of industrial parks and urban areas in provinces such as Hung Yen and Bac Ninh also brings great expectations. Mr. Tran Van Nam - an investor in Bac Ninh - shared: "2024 is the preparation period. I am considering more land plots in the area near new industrial parks in Hung Yen. Because in 2025, when the market is more prosperous, land prices will certainly continue to increase."
Along with opportunities, the land market in 2025 also faces many potential challenges, requiring investors to be cautious and have appropriate strategies.
In particular, the progress of infrastructure projects and large urban areas needs special attention, because the slow progress of important infrastructure projects will be a factor hindering growth. For example, in the suburban areas of Hanoi such as Dong Anh and Hoai Duc, if traffic routes such as Tu Lien Bridge or Ring Road 4 are not completed on schedule, land prices may "stag", making it difficult for investors who expect to make a profit as expected.
In addition, legal factors continue to be a big problem in the land market. Areas with unclear planning or problems with red books, ownership certificates, and transfer problems often create risks for investors.
