A recent market survey by Batdongsan.com.vn noted that the number of brokers and investors flocking to Dong Anh district (Hanoi) has been increasing, causing the land segment to establish a new level.
For example, from May 2024 to now, many plots of land in Le Phap commune (Dong Anh district) have increased from 74-100 million VND/m2 to 85-110 million VND/m2. Land in Tien Duong commune in a wide alley, 2 cars can pass each other, the selling price has also increased from 60-90 million VND/m2 to 75-105 million VND/m2.
Land plots in Nguyen Khe commune, a location that can be used for business, have increased in price from 62-78 million VND/m2 to 75-96 million VND/m2. Even the land plots in small alleys, deep in the village in Van Noi commune, Bac Hong, from May 2024 to now, have increased in price from 40-45 million VND/m2 to 50-55 million VND/m2...
Talking to Lao Dong reporter, Mr. Tran Huu Quang (45 years old) - a long-time real estate investor in Hanoi - said that after many times searching for opportunities to invest in land in suburban areas of Hanoi, at the end of June 2024, he decided to spend money to buy a plot of land with an area of over 46 square meters in Xuan Non commune (Dong Anh district) for 2.65 billion VND, equivalent to nearly 58 million VND/square meter.
"After many months of searching, I realized that with the current amount of about 2-3 billion VND, it is very difficult to find and buy a plot of land in the countryside of Dong Anh district. There are many plots of land that are being priced by the owners here at over 50 million VND/m2 even though they are located in villages and alleys" - Mr. Quang said.
However, Lao Dong reporter's investigation shows that although the price is continuously increasing, it is not excluded that real estate brokers and sellers are pushing up the market price. There is also no detailed statistical data on the actual number of transactions in the land segment in Dong Anh district (Hanoi).
Data from the first months of the year by the Vietnam Association of Realtors (VARS) shows that land products under VND3 billion in the suburbs of Hanoi with legal guarantees and completed infrastructure are currently attracting the attention of many investors. The increase in land prices in many suburban districts of Hanoi has reached 10-20%, with some places increasing by up to 40% compared to the most difficult time of the market.
Real estate expert Dinh Minh Tuan commented that the Northern land market has recently recorded a local fever in some places. In particular, the level of interest and prices have increased sharply in the suburban areas of Hanoi thanks to planning factors, project implementation, and auction activities.
Many real estate experts also recommend that investors should not follow the crowd trend or ongoing infrastructure projects because it is easy to bury capital.
Before deciding to buy land, investors need to carefully study the legal aspects and prioritize location, which determines the potential for price increase as well as the liquidity of that product in the future.
