Where will be the next "land auction hot spot" in the suburbs of Hanoi?

Where will be the next "hot spot" of land auctions in the suburbs of Hanoi?

According to many individuals who specialize in auctioning land, Hoai Duc (Hanoi) will be the next place chosen by groups to "hunt for land". The winning price will probably fluctuate around 60 million VND/m2. Even reaching 100 million VND/m2.

Starting price from only 7.3 million VND/m2

After the land auction that caused a stir in public opinion in Thanh Cao commune, Thanh Oai district, investors are about to enter another equally "hot" auction.

Land lots are about to be auctioned in Hoai Duc in the near future.

Specifically, on August 19, Hoai Duc district will auction 19 plots of land (lots LK03 and LK04) in Long Khuc area, Tien Yen commune. The area of ​​each plot ranges from 74 - 118 m2, the starting price is 7.3 million VND/m2. The deposit ranges from 109 - 172 million VND/plot. The deadline for registration to participate in the auction is August 16.

About a week later, on August 26, Hoai Duc district will auction the remaining 20 plots of land in Long Khuc area, belonging to plots LK01 and LK02. The starting price is also 7.3 million VND/m2. The area ranges from 89 - 145 m2. The deposit will be from 130 - 212 million VND/plot. The deadline for submitting auction application is August 23.

The auction format of both above is by direct voting through at least 6 rounds. The venue is the hall of the Hoai Duc district cultural, information and sports center.

Regarding location characteristics, Long Khuc area is bordered to the Northeast by the main traffic route of Tien Le village and Tien Yen Kindergarten. To the South and East by the commune's agricultural land. To the West by agricultural land and lake.

As of 2021, the population of Tien Yen commune is 7,254 people, population density is 2,355 people/km2. The distance from the center of Hanoi to the commune People's Committee is about 20 km.

Reasons why prices can skyrocket

According to Mr. TN, the head of a real estate office specializing in auctioned land, the Long Khuc area in Tien Yen commune, Hoai Duc district has a beautiful location and is more popular than the auctioned land in Thanh Oai district. Therefore, this place is likely to "follow in the footsteps" of the milestone of winning a price of 100 million VND/m2.

“In addition, the deposit for this plot of land is quite low, just under 200 million VND for each plot. This will help the teams easily carry out their plan of 'buying and selling'. In the worst case, if the plot of land cannot be sold at a higher price to the customer, they can cancel the deposit without suffering much financial loss," said Mr. TN.

In addition, the land auction in Hoai Duc district was held in 6 rounds of bidding. Meanwhile, in Thanh Oai, the auction only took place in one round. This could also be a factor that causes the price to continuously increase.

Currently, although the auction has not yet taken place, some individuals have publicly advertised the plots of land for sale. According to the broker, the expected winning bid price will be around 60 million VND/m2 or more. Buyers who want to own these plots will have to pay an additional difference of around 200 - 300 million VND.

“I think the price will hardly reach 100 million VND/m2 like in Thanh Oai. If the winning price reaches such a high level, the difference in selling price will decrease. However, to be safe, investors still need to prepare about 5 billion VND to buy back these auctioned lots,” the broker shared his opinion.

Transport infrastructure is a notable highlight of Tien Yen commune. The section of Ring Road 4 passing through Hoai Duc district will be 17.1km long. Tien Yen is one of 12 communes in the district that this road runs through.

Not only that, in a meeting in early August 2024, Mr. Tran Sy Thanh, Chairman of the Hanoi People's Committee, emphasized that by 2025, the city will focus on turning Hoai Duc district into a district.

Previously, at the end of March 2024, Hoai Duc district organized a land auction for 33 lots in Ma Trau area, Dong Nhan village, Dong La commune. Notably, right from the first round of the auction, there were people who offered prices up to 100 - 180 million VND/m2.

However, the auction was soon canceled due to signs of violating regulations on property auctions. The reason was that when it reached round 2, the highest bidder did not bid and was disqualified, creating conditions for the lower bidder in round 1 to win the auction.

Source: https://baodautu.vn/batdongsan/dau-se-la-chao-lua-dau-gia-dat-tiep-theo-tai-ngoai-thanh-ha-noi-d222406.html