At the end of 2024, land auctions in Hanoi recorded many unusual points, with the situation of winning the auction and then abandoning the deposit still appearing, causing market disruption.
On November 29, 2024, the auction in Soc Son district caused a stir in public opinion when 3 plots of land were bid for up to over 30 billion VND/m2. More than 20 other plots of land were also pushed up from more than 98 million VND/m2 to over 101 million VND/m2.
At the same time, all 22 plots of land in Do Dong commune, Thanh Oai district could not find owners because customers all dropped out.
Faced with that reality, Hanoi has tightened land auctions in 2025, prioritizing the auction subject as organizations, instead of individuals, to effectively exploit land funds.
In March 2025, the Hanoi People's Court also opened a mobile trial at the Hall of the People's Committee of Quang Tien Commune (Soc Son District, Hanoi) to try 6 defendants in the case of "inflating" land auctions up to 30 billion VND/m2.
Accordingly, the court sentenced Pham Ngoc Tuan (34 years old) to 3 years in prison; Ngo Van Duong (31 years old) 2 years and 6 months; Nguyen Duc Thanh (33 years old) 2 years in prison; Nguyen Thi Quynh Lien (44 years old) 1 year of suspended prison, Nguyen The Trung (21 years old) 1 year and 6 months of suspended prison; Nguyen The Quan (31 years old) 15 months in prison on the same crime of "violating the regulations on property auction activities".
Up to now, many districts in Hanoi have successfully organized auctions with a large number of investors participating.
Recently, the Thach That District Land Fund Development Center organized an auction of residential land use rights for 24 plots of land in Binh Xa village, Quang Trung commune. The auction attracted 361 customers with 1,895 applications, organized in the form of direct secret ballot in many rounds, bidding up for each plot of land. After 5 rounds, all 24 plots of land had winning bids with prices ranging from 70.395 million to 180.939 million VND/m2. The total amount collected was nearly 237.6 billion VND.
At the end of May, Phu Xuyen district also successfully organized two land auctions. 30 plots of land in Ba Hoa 2 area, Phong Trieu village, Nam Phong commune were successfully auctioned, with a starting price of 8.91 billion VND, the total winning bid price reached 82.17 billion VND, a difference of more than 73 billion VND - equivalent to an increase of 921%.
Previously, Phu Xuyen district also organized an auction of 76 plots of land in Phu Tuc commune. All plots were successfully auctioned, earning nearly 287 billion VND, an increase of nearly 10 times compared to the total starting price of more than 30 billion VND. The highest winning price was 62 million VND/m2, the lowest was 36 million VND/m2.
Ung Hoa district has also successfully auctioned 23 plots of land in Quang Phu Cau commune, with the highest winning price reaching 52.9 million VND/m2. The auctions are organized publicly and transparently, with winning prices 200% to more than 260% higher than the starting price.
In March, Phuc Tho district, Quoc Oai district also successfully auctioned plots of land in Doc Tranh area, Trach My Loc commune (phase 2) and in Yen Quan village, Hung Dao commune.
