According to real estate market data for the first 9 months of the year from a unit, the interest and transaction levels of 2 types of houses and land have improved. However, the improvement only occurred locally in some areas, especially the northern provinces. In particular, the interest level for land in Hung Yen increased the most by 43% compared to the previous quarter.
According to the Ministry of Construction, in the second quarter there were 124,991 successful land transactions, an increase of 28% compared to the first quarter and an increase of 85% compared to the same period.
Although the level of interest and land transactions has increased in recent times, experts say the positive trend is only localized in some areas.
Speaking to Dan Tri reporter, Mr. Le Dinh Chung, member of the Market Working Group of the Vietnam Association of Realtors (VARS) - said that from April until now, in addition to the suburbs of Hanoi, some surrounding provinces such as Bac Giang, Hung Yen, Bac Ninh... land prices have also increased by 10-20% compared to the bottom period, actual transactions have improved much compared to 2023.
According to him, some investors have started their journey to buy land in some areas where prices have not increased sharply in recent times. These people are tending to be proactive, because according to the current Real Estate Business Law 2023, it is not allowed to divide and sell land in 105 cities and towns across the country.
Mr. Chung acknowledged that the current "wave" of land is only localized in some areas on the outskirts of Hanoi and has not spread to many areas. It will not be until the second quarter of 2025 that the land market will see clear positivity. However, investing in land at this time needs to determine a medium-term capital recovery of at least 1-3 years, instead of surfing.
"Although the three new laws on real estate have been in effect for about two months, they have only had a positive impact on investor sentiment. Therefore, it still takes time for the laws to penetrate the market before we can see the impact clearly," said Mr. Chung.
A plot of land in the suburbs of Hanoi (Photo: Duong Tam).
At the same time, this person believes that investors should not "put all their eggs in one basket", buy in bulk at this time, but should choose projects with legal status, products with good prices or locations with adequate amenities.
According to Mr. Nguyen Quoc Anh, Deputy General Director of Batdongsan.com.vn, land prices in some suburban areas of Hanoi have increased by about 10% this year.
He said that land has potential but that does not mean "buying anywhere will win" but depends on each area and each time. In the coming period, investors need to be more careful, before spending money, they must rely on data and analyze accurate planning information.
"There have been many investors who "jumped on the peak" of land plots and were left with a bad taste in their mouths because they bought them but had difficulty selling them or had to cut their losses if they needed money urgently. Land plots have increased, but according to surveys, there are still some areas that are very quiet and transactions have decreased," he shared.
According to him, it will not be until the second quarter of 2025, when investors are confident in the economy and yields, that land will receive much attention. 2024 is still the "year of apartments" and it will not be until mid-2025 that land will flourish.
In early 2026, the real estate market in general entered a period of stability and at this time the playground really recorded the return of many diverse types, in which land plots regained their form.
"After the 2024 Land Law took effect, the land market had many major changes from supply to trading activities. The land segment developed in a more positive direction, reducing the situation of land fever, virtual prices, and creating market waves. Instead, there was a new cycle with the land segment developing more stably, transparently and sustainably," the expert shared.
Source: https://dantri.com.vn/bat-dong-san/chuyen-gia-song-dat-nen-hien-nay-moi-chi-mang-tinh-cuc-bo-20240926032843436.htm
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