Where has the highest land price in Hanoi?

According to the latest land price framework, Hang Dao Street is the place with the highest land price in Hanoi. However, in reality, the house price here is much higher than the regulations in the price framework.

Based on the land price framework in Decision 30/2019/QD-UBND, amended and supplemented in Decision 20/2023/QD-UBND, currently Hang Dao street (Hoan Kiem district) is the place with the highest land price in Hanoi at 187.9 million VND/m2.

The above figure is the land price at location 1, which is the place with frontage adjacent to the road/street, has the potential for profit and favorable infrastructure conditions.

The actual transaction price of houses on Hang Dao Street is 4-5 times higher than the price specified in the land price frame. Photo: Thanh Vu

For location 2, where the house is located in an alley over 5 m wide, the land price on Hang Dao is still up to 84.5 million VND/m2. For location 3, where the alley in front of the house is only about 3 - 5 m wide, the price will be 35.7 million VND/m2. Finally, for location 4, where the alley is less than 3 m wide, the selling price will be 56.3 million VND/m2.

From the 17th century until now, Hang Dao has always been a busy and bustling street. Photo: Thanh Vu

In fact, houses on Hang Dao Street, the section leading to Hoan Kiem Lake, are currently being sold for around 600 million - 1 billion VND/m2. Of which, houses with moderate areas, from 25 - 50 m2, will cost 700 million - 1 billion VND/m2. The rest, houses with large areas, for example about 200 m2 or more, will have lower prices, around 560 million VND/m2.

Houses with small areas and frontages on Hang Dao Street are currently rented for around 35 - 50 million VND/month. Photo: Thanh Vu

In terms of the rental market, houses with “golden” locations on Hang Dao Street will have a rental price of about 200 million VND/month for large houses of about 200 m2. On the other hand, small houses of about 28 m2 will have a rental price of only about 35 million VND/month.

Currently, the houses on Hang Dao Street are bustling with businesses selling souvenirs, backpacks, clothes, handicrafts, etc. Trading activities are very bustling, with the majority of customers being foreigners.

Hang Dao is one of the 36 old streets of Hanoi, where people used to dye and sell fabrics. The southern end of the street is Dong Kinh Nghia Thuc Square, the northern end is adjacent to Hang Ngang Street. The reason for the sky-high prices here is not only due to the business factor but also due to the cultural, historical and geographical values ​​- this is what makes the old street "classy" compared to the other 800 streets of the capital.

On Nguyen Tuan Street (Thanh Xuan District) - where the authorities have just reclaimed land to expand the road, based on the land price frame, the price of location 1 will be 32.2 million VND/m2. Location 2 is about 18 million VND/m2. Location 3 is 14.8 million VND/m2. Location 4 is 13.2 million VND/m2.

According to local residents, the house selling fresh flowers at the beginning of Nguyen Tuan Street was compensated about 250 million VND. Photo: Thanh Vu

According to local residents, in the recent forced land acquisition on Nguyen Tuan Street, households will be compensated at two price ranges of 6.4 million VND/m2 and 9.4 million VND/m2. The reason is that the houses to be cleared are all "parachute" land and do not have red books.

Currently, all households have agreed to hand over the land. It is expected that by the end of this year, the project to renovate and expand Nguyen Tuan Street will begin construction. Photo: Thanh Vu

According to Mr. Bui Duc Hung, Deputy Director of the Thanh Xuan District Construction Investment Project Management Board, houses without certificates should not be compensated. However, to reduce difficulties for people, in the case of people using land converted before 1993, they will be supported 30% of the residential land price, and in the case of people using land from 1993 to 2004, the support level will be 20%.

In the near future, the current land price framework will be replaced by an annual land price list. With the goal of determining land prices according to market principles, experts say that the new land price list will be 10 times higher than the current price framework. Starting from January 1, 2026, this price list will be officially applied nationwide.

According to the provisions of the 2024 Land Law, the land price list will be used to calculate and determine land rent, land use tax; income tax on land use rights transfer for households and individuals; fees in land management and use; administrative fines for land; land compensation when clearing land; starting price for land use rights auction...

Source: https://baodautu.vn/batdongsan/noi-nao-co-gia-dat-cao-nhat-ha-noi-d227702.html