Prices of subdivided land plots on the outskirts of Hanoi skyrocket, experts warn

(Dan Tri) - Experts say that land prices in the suburbs of Hanoi are already high, posing many risks. Therefore, investors should choose areas with synchronous infrastructure, good economic development but land prices have not increased too much.

Prices of subdivided land on the outskirts of Hanoi increase

According to a survey by Dan Tri reporters, the selling price of subdivided land in suburban districts of Hanoi such as Thach That, Quoc Oai and Son Tay town has increased by 15-20% recently.

Specifically, in Thach That district, the price of subdivided land in Tien Xuan commune on the main road that can be used for business at the beginning of the year was 25-27 million VND/m2, now it has increased to 30-33 million VND/m2, an increase of about 20%.

The area in the alley also increased from 15 million VND/m2 to 18 million VND/m2, about 20% compared to the beginning of the year. In the area of ​​Binh Yen and Tan Xa communes, the price of divided land also fluctuated between 25-30 million VND/m2, an increase of about 15% compared to the beginning of the year.

In Quoc Oai district, the price of subdivided land on main roads in Phu Cat and Phu Man communes currently ranges from 27 million VND/m2 to 31 million VND/m2, an increase of about 20% compared to the beginning of the year.

A plot of land divided into plots in the suburbs of Hanoi (Photo: Duong Tam).

The price of land in Quoc Oai district near the high-tech park such as Dong Yen commune on provincial road 412B was about 28-30 million VND/m2 at the beginning of the year, now it is about 32-35 million VND/m2. Meanwhile, the land plots in Dong Yen commune located deep in the village, small alleys increased from 7-9 million VND/m2 to 9-11 million VND/m2.

In Son Tay town, plots of land located on large roads where cars can pass each other in Co Dong commune at the beginning of the year were priced at 22-24 million VND/m2, now the selling price is around 26-29 million VND/m2, an increase of about 20%. The plots of land located in alleys at the beginning of the year were priced at 12-14 million VND/m2, up to 15-18 million VND/m2.

Land in Son Dong commune on the business streets at the beginning of the year was priced at 25-26 million VND/m2, now it is priced at around 29-30 million VND/m2. Land on the business streets in Thanh My commune has increased from 20-22 million VND/m2 to 24-26 million VND/m2.

Expert: Land prices in Hanoi's suburbs are now high, posing many risks

Mr. Phi Hieu, a real estate broker in Thach That, Son Tay, said that since the beginning of the year, many investors have come here to buy land, because the demand has increased compared to before, so the land price has increased accordingly. In addition, the restriction on subdivision has also caused the price of already subdivided land to increase.

A subdivided land plot in Thach That district, Hanoi (Photo: Duong Tam).

"The market in this area is more vibrant than last year but is still very gloomy compared to when the fever occurred, so land prices have not increased much compared to the bottom," he said.

However, at present, Mr. Hieu said, the number of investors coming to view, buy and sell transactions has decreased compared to the beginning of the year.

Real estate expert Dinh Minh Tuan commented that the Northern land market has recently recorded a local fever in some places. In particular, the level of interest and prices have increased sharply in the suburban areas of Hanoi thanks to planning factors and auction activities.

Areas associated with the Hoa Lac Hi-Tech Park recorded growth. Compared to the same period last year, selling prices in Thach That increased by 13%, interest increased by 48%; selling prices in Quoc Oai increased by 20%, interest increased by 101%.

Assessing the situation of land investment in suburban areas, Mr. Le Dinh Chung, Member of the Market Working Group of the Vietnam Real Estate Brokers Association, said that currently, positive development is only taking place locally in some suburban areas of Hanoi and has not spread to other provinces and localities.

According to him, it will not be until the second quarter of 2025 that the land market can witness more even development in many places. However, the land price in the suburbs of Hanoi is currently at a high level, posing many potential risks. Therefore, if investors want to invest in this segment, they should choose areas with synchronous infrastructure, good economic development but land prices have not increased too much in recent times.

Experts advise that before deciding to invest in a real estate product, investors need to prioritize the location factor, which determines the potential for price increase as well as the liquidity of that product in the future. At the same time, investors need to pay attention to information about planning and infrastructure in that area because such information will also affect the value of the real estate in the future.

Source: https://dantri.com.vn/bat-dong-san/gia-rao-ban-dat-nen-phan-lo-ven-ha-noi-tang-vot-chuyen-gia-canh-bao-20241101185001419.htm