Thanh Oai auction land "cools down" but winning price still reaches 90 million VND/m2

In the recent auction in Thanh Oai district ( Hanoi ), the number of applications and winning prices have decreased. However, the amount of money that investors are willing to pay for suburban land plots remains very high.

In the recent auction in Thanh Oai district (Hanoi), the number of applications and winning prices decreased. However, the amount of money that investors are willing to pay for suburban land plots remains very high.

After 10 rounds, the auction of 25 land lots in Van Quan village, Do Dong commune, Thanh Oai district (Hanoi) ended with the highest winning price of 90.3 million VND/m2, 17 times higher than the starting price. The lowest lot also had a price of up to 45.3 million VND/m2, 8.5 times higher than the starting price.

Notably, the two plots of land with the highest winning prices have areas of up to 113.88m2 and 129.36m2. Thus, the total value of these two plots of land is approximately VND10.3 billion and VND11.7 billion, respectively.

Image of auctioned land lot in Van Quan village, Do Dong commune, Thanh Oai district. Photo: Tam Phuc Real Estate

The 25 lots in the recent auction ranged in area from 83 to 143 square meters. The starting price was 5.3 million VND/m2, equivalent to a deposit of about 88 to 151 million VND/lot. This auction had a minimum of 6 rounds, with a price step of 5 million VND/m2. With the above regulations, participants must spend at least 30.3 million VND/m2 to have the opportunity to own the lots here.

After the auction ended, many groups and associations resold the plots of land on social networks, with a difference of 250 million VND to 1 billion VND. Of which, the plot with a difference of 1 billion VND had the lowest winning price - 45.3 million VND/m2. However, with an area of 157 m2, the total value of this plot of land was still more than 7 billion VND. Combined with the price difference, the total amount would be 8 billion VND.

According to the leader of Thanh Oai District People's Committee, this auction received more than 400 dossiers. This is a large number but still much lower than the number of dossiers collected in the auction of 68 land lots in Thanh Cao commune in August 2024, when the number of dossiers reached 4,600 sets. When considering the winning price, the amount in the previous session was also higher, when the highest priced lot reached 100.5 million VND/m2, the lowest was 51.6 million VND/m2.

However, in the previous auction in Thanh Cao commune, 55/68 lots had their deposits forfeited, including the lot with the highest winning price. The plots with full payment all had winning prices of 55 million VND/m2 or less.

Source: https://baodautu.vn/batdongsan/dat-dau-gia-thanh-oai-ha-sot-nhung-gia-trung-van-len-toi-90-trieu-dongm2-d230234.html