Ha Dong land auction: Highest price 262 million VND/m2, more than 8 times higher than starting price

The highest winning lot is coded 1A-03 Dong Danh - Dong Coc area (Phu Luong ward) with a winning price of more than 262 million VND/m2. This land lot has an area of 57.5 m2, 2 frontages, located next to the cemetery. The infrastructure around this area has been invested synchronously for a long time. This land plot is about 1.7 km from National Highway 21B. The total winning price of this lot is up to 15 billion VND, more than 8 times higher than the starting price.

Although the land lot was won at a high price, many investors participating in the auction said that this was a special lot with beautiful terrain so the price could not be less than 200 million VND.

Another plot of land with a high winning price is B1-16 in Ha Khau area, Phu Luong ward, 146 million VND per square meter, 5.5 times higher.

The lowest lot has a winning price of over 140 million VND/m2, also 6 times higher than the starting price.

Compared to the starting price, the highest winning price is nearly 9 times higher. (Photo: Chau Anh)

Although the auction took place late at night (October 19), there were always a series of land brokers operating outside the auction hall, bustlingly offering plots of land for sale at a price difference of 500-600 million VND/plot.

For example, lot 1B-16 in Ha Khau, area 62.5 m2 with the winning bid price of 146 million VND/m2 (about 9.1 billion VND), was sold for a difference of 600 million VND. Raising the price of the lot to more than 9.7 billion VND/lot.

Another lot, 2B-16, also in Ha Khau, with an auction price of 146 million VND/m2, is also being sold for a difference of 400 million VND/m2, equivalent to more than 9.5 billion VND/lot.

However, when the reporter expressed his desire to buy a plot of land, many brokers "raced" each other to lower the price of the plots by 100-200 million VND/plot.

Notably, after the 7 rounds of the auction ended, many people left because they thought the prices were too high. Meanwhile, according to the organizers' plan, the auction would last at least 5 to 11 rounds.

An investor who left the auction room at 4 p.m. said that the total value of each auctioned plot of land had reached more than 10 billion VND. " With such a high price, I have no choice but to give up ," he said.

Land prices that exceeded expectations were also the reason most investors gave for leaving the auction room early.

Although it was dark, many people still gathered at the auction site. (Photo: Minh Duc)

Mr. Khuat Quang Hung (Son Tay) traveled more than 40km to Van Quan auction site (Ha Dong, Hanoi) from 6am on October 19 to bid on 4 plots of land. "I was cautious of traffic jams so I left at 6am and arrived at 7am, after breakfast I went to bid, which was just right," said Mr. Hung.

After attending the 7th round of auction, he could no longer participate because the land price was too high. Therefore, he decided to leave. According to Mr. Hung, some investors after going through 4-5 rounds of auction could not stand the "heat" and gave up.

“ I have been bidding for 7 rounds but have not yet finalized any lots. I have bid for 4 plots of land but the prices have gone up too high, I can't continue because I don't have enough money ," said Mr. Hung.

The auction started on the morning of October 19 with 212 investors participating. The auction was organized with multiple rounds of voting, at least 5 - 11 rounds with a price step of 10 million VND/m2.

Specifically, 17 plots of land in Ha Khau area will be auctioned through at least 5 mandatory rounds. Three plots of land in Dong Bo - Dong Chuc - Cua Cau - Dong Men area and Sau Chua area will be auctioned through at least 6 mandatory rounds. Six plots of land in Duoc area will be auctioned through at least 7 rounds.

After the auction results are announced, the winner must pay the remaining amount within 30 days from the date of winning the auction. At the same time, the land auction winner must also pay related fees and taxes: Notary fees, registration tax, other costs. In case of failure to pay on time, the winner will lose the deposit and land ownership.

Chau Anh - Minh Duc

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