Current status of the auctioned land plot worth over 133 million VND/m2 in a suburban district of Hanoi

08/21/2024 | 11:29

TPO – The auctioned land plot of 19 lots (LK03-LK04) in Long Khuc village, Tien Yen commune (Hoai Duc district, Hanoi) has a winning price of 91.3 - 133.3 million VND/m2, located about 20 km from the center of Hanoi, next to the Ring Road 4 under construction.

The location of 19 plots of land in Long Khuc village, Tien Yen commune (Hoai Duc district, Hanoi) with shockingly high auction prices is about 20 km from the center of Hanoi, near Tien Le dike road, next to Tien Yen B Kindergarten and about 100m from the Ring Road 4 under construction.

One side of the auctioned land in Long Khuc village borders the commune's agricultural land.

According to Tien Phong reporter, the auctioned land has been invested in synchronous infrastructure of roads, trees, electricity, drainage, etc.

The playground was built in the auctioned land of Long Khuc village.

According to the Hoai Duc District Land Fund Development Center, the land auction lasted more than 19 hours, and was not concluded until 4:30 a.m. on August 20. After 9 auctions, lot LK03-12 (corner lot with 3 fronts) with an area of ​​more than 113 m2 was paid the highest price of 133.3 million VND/m2 (equivalent to the value of this land being more than 15 billion VND). Compared to the starting price of 7.3 million VND/m2, the investor paid more than 18 times more for this land. The remaining 16 lots had winning prices ranging from 97.3 - 127.3 million VND/m2; the 2 lowest winning lots were at 91.3 million VND/m2. (Location of 19 land plots just auctioned in Long Khuc village, Tien Yen commune - Do zone).

According to some real estate brokers, the price of 133.3 million VND/m2 has set a new level for land here because this price is 2-3 times higher than the market price in the area surrounding the auctioned land. In the photo is lot LK03-12 (corner lot with 3 fronts) with an area of ​​over 113 m2 with the highest price of 133.3 million VND/m2.

According to Batdongsan.com.vn's Price History Tool, land prices in Tien Yen commune, Hoai Duc district are trading at an average of VND 43 million/m2, an increase of about 30% compared to the first quarter of 2024 and an increase of about 48.3% over the past year.

After the overnight land auction, as soon as the winning bid was announced, many brokerage floors sprung up next to the land. Many “land brokers” even set up umbrellas, tables and chairs to consult and solicit customers right in the middle of the auction land.

According to brokers, after winning the auction, investors will sell at a difference of 250-600 million VND/lot, depending on location.

Talking to PV Tien Phong, Dr. Tran Xuan Luong - Deputy Director of the Vietnam Real Estate Market Research and Evaluation Institute said that the land auction fever in suburban districts such as Thanh Oai, Hoai Duc... with winning prices much higher than the market price is partly due to speculative groups manipulating and "inflating prices". Because following recent auctions, there have been groups of investors from Hai Duong, Bac Ninh, Bac Giang... participating in auctions and paying high prices. This is a factor that will push up the price of houses and real estate in the coming time, making it difficult for those with real needs to access. Dr. Tran Xuan Luong proposed that to prevent speculation and price inflation, it is necessary to increase the deposit to 50% of the original value, and auction winners must wait 1-2 years before being able to buy, sell, and notarize.

Video: Location of 19 auctioned lots in Long Khuc area, Tien Yen commune, Hoai Duc district.

Dinh Phong-Le Thu