Since mid-2024, Mr. Hoang Van Duc (32 years old, residing in Thanh Xuan, Hanoi) has been constantly wondering whether to sell or continue to keep the land plot he bought in 2019 near Hoa Lac High-Tech Park (Thach That district, Hanoi).
Mr. Duc said that the 90m2 plot of land was bought to catch the investment wave at the end of 2019 at a price of 2.5 billion VND/plot. However, up to now, because he has no need to use it, he is still hesitant about whether to sell it or wait for a new wave to make a profit.
While Mr. Duc is hesitant to sell, some investors have already put in a lot of money to wait for the new wave of suburban land.
Ms. Nguyen Thi Thu (46 years old, in Nam Tu Liem district, Hanoi), a land investor in Hanoi, said she had just closed a plot of land of more than 120 square meters for more than 4 billion VND, nearly 2km from the center of Phuc Tho district.
According to Ms. Thu, the land is quite beautiful, located in a densely populated area, with a completed transportation system. "It is very difficult to find beautiful land in the inner city area now, especially the price in the central area is too high, so I am looking to invest in the suburbs. Land in Phuc Tho and Dan Phuong districts... are potential areas because large enterprises are starting to invest here, so there will definitely be opportunities for price increases" - Ms. Thu shared.
Economic experts assess that, clearly, information about planning, along with the recovery of the general market under the effect of new laws, especially the new land price list, is causing the interest in land to increase. Therefore, this year-end time is a good opportunity to invest in real estate.
Currently, market participants are actively accelerating their access to the new legal system, since the three laws, the 2023 Law on Real Estate Business, the 2023 Housing Law and the 2024 Land Law, took effect from August 1, 2024. Thanks to that, the provisions of the new law are gradually understood more accurately, which is an important premise for their gradual application in practice.
Sharing with Lao Dong reporter, Mr. Nguyen The Diep - Vice President of Hanoi Real Estate Club - said that many investors have started hunting for land in the suburbs of big cities in Hanoi and Ho Chi Minh City, which are localities with strong infrastructure development and high urbanization rate.
However, Mr. Diep also warned that the land market in some areas is experiencing unfounded price increases. Therefore, investors who want to buy this segment need to be careful to avoid being caught up in "virtual fever", especially when the real estate market is in the recovery phase.
