How much is the land price in Soc Son district around the area being paid 30 billion VND/m2?

(Dan Tri) - According to a survey, land prices around the area of 58 auctioned lots in Soc Son district recently fluctuated between 20-50 million VND/m2.

In Dong Lai village, Quang Tien commune, Soc Son district (Hanoi), the auction of 58 land lots on November 29 caused a stir in public opinion when 3 land lots were bid up to over 30 billion VND/m2. The leader of the People's Committee of Soc Son district said that there was a group of customers who "sabotaged" the auction.

On December 3, the Hanoi City Police Department's Investigation Police Agency urgently arrested and temporarily detained 5 suspects for investigation related to the case of paying 30 billion VND/m2 in a land auction in Soc Son district.

The detained subjects include Pham Ngoc Tuan, Ngo Van Duong, Nguyen Duc Thanh, Nguyen The Trung, and Nguyen The Quan. According to Hanoi City Police, the five subjects mentioned above are being investigated for violating regulations on property auction activities.

According to Dan Tri reporters, the auctioned land in Dong Lai village, Quang Tien commune, Soc Son district, Hanoi has two sides adjacent to residential areas and two sides adjacent to people's rice fields. Currently, the land is in the process of construction and completion of the technical infrastructure system, many items are still in disarray.

Surveys show that in Quang Tien commune, the price of land in alleys ranges from 20 million VND to 25 million VND/m2. In areas on the business street, the price is about 40-50 million VND/m2. For example, a plot of land with an area of 189m2 located on the business street in Dong Lai village is being sold for 7.6 billion VND, equivalent to more than 40 million VND/m2.

Giá đất nền ở huyện Sóc Sơn quanh khu vực được trả 30 tỷ đồng/m2 ra sao? - 1 — The advertised price of land around the area of 58 auctioned lots in Soc Son district on November 29 is about 20-50 million VND/m2 (Illustration: Duong Tam).

In neighboring communes such as Phu Cuong, Thanh Xuan, Hien Ninh, Mai Dinh, Phu Minh... the advertised price of land is fluctuating from 15 million VND/m2 to more than 70 million VND/m2. Specifically, in Phu Cuong commune, the advertised price of land in the alley where cars can move ranges from 16-24 million VND/m2. In the area of large roads where business can be done, the advertised price of land is 38-55 million VND/m2.

In Mai Dinh commune, the price of land in alleys ranges from 20 million VND to 35 million VND/m2. For land in business areas, the price ranges from 50-75 million VND/m2.

In Thanh Xuan commune, the price of land in alleys ranges from 20 million VND to 25 million VND/m2. Land plots on main roads are priced at 35-50 million VND/m2. In Hien Ninh and Phu Minh communes, the price of land in alleys ranges from 15-22 million VND/m2. Land plots on business roads are priced at 40-60 million VND/m2.

Speaking to Dan Tri reporter, Mr. Nguyen Phu - owner of a real estate transaction office in Soc Son district - said that the winning price at the auction of 58 land lots in Quang Tien commune was about 30-50 million VND, which is close to the market reality. Paying a price of over 100 million VND/m2 is somewhat "unreal". At the same time, land transactions in Soc Son district have slowed down in recent months.

Mr. Nguyen Van Dinh - Vice President of Vietnam Real Estate Association - said that paying an unbelievably high price could cause disruption to the real estate market. In particular, the market is in a transition period between the new and old laws, so there are shortcomings, especially the starting price.

Giá đất nền ở huyện Sóc Sơn quanh khu vực được trả 30 tỷ đồng/m2 ra sao? - 2 — Area of 58 auctioned land lots in Soc Son district (Photo: Thien Phan).

According to him, the current starting price of auctioned land is determined according to the old land price list, which is only 10% of the current market price. The low starting price leads to a small deposit. Accordingly, many real estate speculators accept to pay a very low deposit to participate with the aim of winning and selling at a higher price or pushing up the market price in the area.

To solve this problem, he said, it is necessary to consider allowing localities to hire consulting units to determine the starting price close to the previous market. From there, the deposit will be higher, discouraging speculators from participating.

According to him, regulations on individual land auctions should be as strict as those for organizations and businesses. Those participating in land auctions must commit to building and putting the land into use for residential purposes or for lease to develop the local economy and avoid abandonment and waste.

To ensure transparency and health for the real estate market, Pham Thanh Tuan - legal expert said that it is necessary to limit the organization of private land auctions, giving priority to land auctions for businesses implementing housing investment projects until localities have issued new land price lists according to the provisions of the 2024 Land Law.

In addition, it is necessary to consider using tax tools to limit real estate speculation in the context of perfecting the land data and land price information system.

Previously, in October, the Hanoi People's Committee issued a document directing units on land use rights auctions. Accordingly, Hanoi City directed units to continue to improve regulations, emphasizing the restriction of organizing auctions to allocate land to individuals to build their own houses. At the same time, priority was given to land auctions with land use fees and land leases to organizations to implement investment projects.

At the same time, the city also requested districts to make a list of cases where they paid higher than the market price to win the auction but did not pay. This list will then be made public on the information pages of the districts and the Department of Natural Resources and Environment.

Hanoi requested the City Police to consider professional measures to promptly detect violations of land auctions, and guide the People's Committees of districts, towns and cities to take measures to prevent violations of auction regulations from continuing to participate in auctions.

In addition, the police force needs to propose solutions to prevent and limit continued participation in auctions for those who have participated in auctions, paid "unusually" high prices to win the auction but did not pay the winning money according to regulations.

(Dan Tri) - According to a survey, land prices around the area of ​​58 auctioned lots in Soc Son district recently fluctuated between 20-50 million VND/m2.

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(Dan Tri) - According to a survey, land prices around the area of 58 auctioned lots in Soc Son district recently fluctuated between 20-50 million VND/m2.