Is there a phenomenon of "big hands" manipulating land auctions on the outskirts of Hanoi?

Recently, the results of land auctions in the suburbs of Hanoi have shocked many people. Specifically, in Hoai Duc district, the winning land price of 19 lots in Tien Yen commune ranged from 91-133 million VND/m2, 12.5 to 18 times higher than the starting price.

There were massive auctions and high prices, but then there were many developments with the auctioned lots being resold at a price difference of 400-600 million VND, with deposits continuously being waived. Recently, in the auction of 68 lots in Thanh Oai district, 55 lots were waived, including the highest priced lot of over 100 million VND/m2. Of the total 13 lots with full payment, the highest priced lot was 55 million VND/m2.

Lawyer Truong Anh Tuan - real estate legal expert - will be the guest of ChatToday on October 1. In this talk show, Mr. Tuan shares his perspectives and analysis related to recent land auctions in the suburbs of Hanoi.

Experts talk about whether or not there are "big guys" manipulating land auctions ( Video : Pham Tien).

Mr. Truong Anh Tuan said that the phenomenon of "big hands" and speculators manipulating land auctions requires the involvement of authorities to determine.

According to him, there are many reasons leading to the phenomenon of massive abandonment of deposits for auctioned land. However, people need to pay attention to the fact that paying high prices but abandoning the auction deposit has not established a successful transaction price. Therefore, the winning price should not be used as a reference in real estate transactions in the area.

In addition, Mr. Tuan will clarify some issues from recent land auctions and provide solutions to stabilize and make the real estate market healthy in ChatToday, which will be broadcast at 9:00 a.m. on October 1.

ChatToday is a talk show with characters related to economic issues. This product was conceived and implemented by members of the Economic Department of Dan Tri Newspaper.

Appearing on Dan Tri and the newspaper's social media platforms at 9am on the 1st and 16th of every month, ChatToday brings stories from guest characters or their perspectives and views on an economic topic that readers are interested in.

Source: https://dantri.com.vn/bat-dong-san/co-hien-tuong-nhom-tay-to-thao-tung-cac-phien-dau-gia-dat-ven-ha-noi-20240930123748014.htm