While the January holiday season has not yet ended, investors have rushed to buy land. However, experts believe that the current excitement of the market is only short-term, and a "land fever" like in 2022 is unlikely.
While the January holiday season has not yet ended, investors have rushed to buy land. However, experts believe that the current excitement of the market is only short-term, and a "land fever" like in 2022 is unlikely.
When the Tet holiday ends, notary offices reopen and welcome new real estate transactions. At the beginning of February 2025, Mr. Van Tung (retired, investor) and his relatives took a taxi, traveling more than 30 km to the outskirts of Hanoi to buy land.
“My friends introduced me to My Duc district, an area that directly benefits from the My Dinh - Ba Sao - Bai Dinh route. This spiritual route will directly connect Hanoi with famous tourist destinations such as Huong Pagoda, Bai Dinh Pagoda, Tam Chuc Pagoda…”, said Mr. Van Tung.
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| Investors conduct transactions at the beginning of Spring. Photo: Thanh Vu |
With a price of 26 million VND/m2 for a plot of land located on an inter-commune road of more than 8 m wide, Mr. Van Tung decisively "closed" the plot of land after only one week of viewing. To raise enough money to buy the land, he sold some of his gold jewelry, at a price of 8.6 million VND/tael.
“In my experience, land far from the city center often has low liquidity. Therefore, to prepare for the worst, investors should buy with “cash” or borrow very little. In return, when the market “rises”, land is the segment with the second highest profit margin in the real estate market,” Mr. Tung shared.
This veteran investor also frankly said that after this transaction, he will be more cautious in his investment decisions. Currently, the trade war is creating too many variables. Therefore, he wants to observe the market more to reallocate investment channels.
According to Batdongsan.com, Hanoi and Ho Chi Minh City have seen a surge in interest in real estate compared to before Tet. On February 10 (January 13), the platform even recorded a record number of searches for real estate, reaching a peak in the past 5 months. Not only that, in the first working week after the holiday, the number of listings for sale and rent was also 4 times higher than before Tet.
In Hanoi alone, users’ search demand has partly reflected their “taste” for spending money. For the apartment segment, the number of searches is concentrated in the western areas of the capital such as Nam Tu Liem and Ha Dong districts. For private houses, demand is concentrated in densely populated districts such as Dong Da, Hoang Mai, and Long Bien. In contrast, the land segment has recorded a scattered interest in suburban areas.
Not only Hanoi, other localities such as Hung Yen, Da Nang, Ho Chi Minh City also have increased land searches. According to Mr. Dinh Minh Tuan, Director of the Southern region of Batdongsan.com, this segment may experience slight localized, short-term increases in some areas. However, the possibility of a comprehensive land "fever" like in 2022 is unlikely to happen.
“The reason is that banks will still be cautious in lending for investment real estate, especially in provincial markets that have been locally hot. The change in investment behavior will cause spontaneous land subdivision to run out of space. Investors will prioritize areas with good infrastructure connections and clear economic and service development potential,” said Mr. Dinh Minh Tuan.
Source: https://baodautu.vn/batdongsan/vua-ra-tet-nha-dau-tu-xach-tien-ty-di-mua-dat-nen-d246132.html
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