Hundreds of people lined up to bid on land in Ha Dong district, worried it would last all night.

This morning (October 19), Ha Dong district ( Hanoi ) organized an auction of 27 residential land plots in the locations of Ha Khau copper area, Dong Danh - Dong Coc area, Dong Bo - Dong Chuc - Cua Cau - Dong Men area (area B, Phu Luong ward); Sau Chua area (symbol X8, Yen Nghia ward); Duoc area (symbol X7, Duong Noi ward).

According to Dan Tri reporters, although the land auction only started at 8:30, hundreds of people had already arrived at around 7:00 to watch and grasp the situation. In addition to those who directly participated in voting in the closed hall, there were also many investors and real estate brokers waiting outside.

People line up to complete land auction procedures (Photo: Duong Tam).

The plots of land to be auctioned range in area from 48.7m2 to 72.1m2, with starting prices ranging from 22.8-32.2 million VND/m2, and deposits ranging from 221.9 million to 436.3 million VND/plot. The purpose of land use is urban residential land, the form of use is the State allocating land with land use fees. The land use term is long-term.

Of these, 17 plots are in Ha Khau area, 1 plot is in Dong Danh - Dong Coc area, 1 plot is in Dong Bo - Dong Chuc - Cua Cau - Dong Men area (area B), Phu Luong ward; 2 plots are in Sau Chua area (X8), Yen Nghia ward and 6 plots are in Duoc area (X7), Duong Noi ward.

Investors participating in the auction will conduct direct voting in multiple rounds according to the ascending price method. Land plots in Ha Khau area will be auctioned through at least 5 mandatory rounds, in Dong Danh - Dong Coc area through 11 rounds, in Dong Bo - Dong Chuc - Cua Cau - Dong Men area (area B) through 6 rounds, in Sau Chua area (X8) through 6 rounds and in Duoc area (X7) through 7 rounds.

The general price step applied to land plots and in auction rounds is 10 million VND/m2.

The starting price of the first auction round is the starting price approved by the People's Committee of Ha Dong District. From the second auction round onwards, the starting price of the next auction round is the highest valid bid in the previous auction round.

In case the highest valid bid in the previous round is equal to the starting price of the auction round, the starting price of the next round is equal to the starting price of the previous round plus one price step.

According to the announcement from the organizing unit, today's auction in Ha Dong district had 15 people who were not eligible to participate in the auction, mainly because they did not pay, paid less or paid late the deposit.

Participants are concerned that the auction will last until the end of the night (Photo: Duong Tam).

Sharing with Dan Tri reporter, Mr. Nguyen Van Chien, an investor in Ung Hoa district (Hanoi), said that currently, the auction land market in the capital is relatively stable. This is completely different from the fever that took place about 2 months ago, when investors' expectations were high.

He predicts that the winning prices of the plots of land in today's auction will not fluctuate too much, just equal to the market price.

People are doing procedures to enter the auction room (Photo: Nguyen Truong).

Mr. D, a resident of Ha Dong District (Hanoi), said that he submitted an application to participate in the auction of 3 plots of land with the hope of winning one to build a house. Therefore, he hopes to buy at a reasonable price, equal to or slightly higher than the market price. If the winning price is pushed up too high, he will accept to give up.

"With the multi-round auction method, I think today's session will probably last until the end of the night," said Mr. D.

Previously, on the morning of August 19, Hoai Duc district organized an auction of 19 land lots, also following the mandatory minimum auction method of 6 rounds. This auction lasted for nearly 20 hours with 9 rounds before ending.

Source: https://dantri.com.vn/bat-dong-san/hang-tram-nguoi-xep-hang-dau-gia-dat-quan-ha-dong-lo-se-dien-ra-het-dem-20241019113650731.htm