Hoai Duc land auction: Many lots won over 100 million VND/m2

This morning, November 4, Hoai Duc district (Hanoi) auctioned 20 land lots in Tien Yen commune with a starting price of 7.3 million VND/m2.

According to information from the participants, after 8 rounds, the first lots have owners but the prices are quite high, over 100 million VND/m2. Specifically, a 2-frontage lot with an area of 145.5m2 has just had a winning price of 103.3 million VND/m2, equivalent to a total value of about 15 billion VND. Some other lots have winning prices of 91 - 97 million VND/m2.

Entering the 9th auction round, there were many plots of land priced over 100 million VND/m2, notably one plot was offered up to 130 million VND/m2.

Many lots won the price of over 100 million VND/m2.

There were about 150 participants in today’s auction. The number of participants was much lower than the previous auction (August 19, about 500 people with nearly 1,500 sets of documents).

Some participants in the land auction said that today's session will not be as "hot" as the previous one. It is estimated that the auction will end at around 11 pm on the same day, so there will no longer be a situation of rushing and stockpiling food and drinks like the auction in Ha Dong district (October 19).

At the end of the sixth round, many people left because they thought the price was too high.

Many investors came early in the morning to complete procedures. (Photo: Thao Phuong).

Ms. Huong (25 years old, living in Dan Phuong district, Hanoi), was one of the people who left the auction early. She and her husband wanted to buy 2 plots of land for business and to build a house, but when it came to round 8, the prices of all the lots were over 80 million VND/m2. Seeing that the land prices were showing signs of being "inflated", the couple had to accept defeat.

Mr. Duc, a participant in the auction, shared that his group had 3 people, each person bidding for 2 lots to increase the chance of winning, but when it came to round 9, they saw that the price was too high so they all left.

It is known that the plots of land to be auctioned have an area of 89 - 145m2/plot with a starting price of 7.3 million VND/m2. The deposit for the plots ranges from 130.8 million VND to nearly 212.6 million VND.

The auction is a direct voting method with a minimum of 6 rounds of ascending bids. The general applied price step is 6 million VND/m2.

Previously, on August 19, in Hoai Duc district, an auction of 19 residential land lots in LK04 area, Long Khuc village, Tien Yen commune also took place. The auction took place from 8:00 a.m., through the night and until 4:30 a.m. on August 20 - after 18 hours, the final result was announced when all the land lots were successfully auctioned.

According to preliminary results, the highest lot won with a price of 133.3 million VND/m2, more than 18 times higher than the starting price. This lot has the symbol LK03-12, located at a corner with 2 open sides, an area of over 113m2.

Chau Anh

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