Shocked by the auctioned land of over 100 million VND/m2 in the suburbs of Hanoi

Among them, the auctioned lot was worth more than 100 million VND/ ^m2 , many times higher than the starting price (from 8.6 - 12.5 million VND/m2), which is a story that has attracted public attention in the past few days.

Tuoi Tre reporters went to Alley Ba, Thanh Than village, Thanh Cao commune (Thanh Oai district, Hanoi ) to record a real story showing that the newly auctioned land is located along Binh Minh - Thanh Cao road connecting the Day river dike to the left, with two lanes.

Next to this area is mainly agricultural land being cultivated by people and grazing cattle.

People were very surprised

Previously, on August 10, Thanh Oai District Land Fund Development Center coordinated with National Joint Stock Auction Company No. 5 to organize an auction of land use rights for 68 plots of land in Alley Ba, Thanh Than village and thousands of people registered to participate in the auction.

Mr. Pham Ba Canh (44 years old, participating in the auction) said that not only he but also many people in the commune participated in the auction.

"That day, the auction lasted from morning to afternoon before the results were out. Thousands of people participated, but only about 1/5 of them were from the commune. The winners of the auction were mainly from other places, including some who won 8-10 lots."

Mr. Canh said that his psychology has been very agitated these past few days and said that the land lot he auctioned has the symbol LK2., the starting price is 11.2 million VND/ ^m2 but the winning price is up to 86 million VND/ ^m2 .

"Honestly, after hearing that the auction winning price was mostly from 80 to 90 million VND/ ^m2 , with some lots being over 100 million VND/ ^m2 , we were very surprised that the land price in the village was bought at such a high price," said Mr. Canh.

According to Mr. Canh, according to the market, his land is located close to the street, opposite the auctioned land, but the price is only about 55 million VND/ ^m2 .

"In general, a nice piece of land, on the street, is affordable at around 50 million VND/m2. If you ask for more, it's very difficult, people don't have money, and even if they invest, it's difficult to make a profit because this area is not densely populated," said Mr. Canh.

More than 100m from the recently auctioned land is Cao Mat Thuong village (Thanh Cao commune). Ms. Nguyen Thi Tan (50 years old, Cao Mat Thuong village) said that the newly auctioned land was previously Thanh Than village's rice field, which was recently reclaimed for infrastructure. According to Ms. Tan, the price of land in the village for a beautiful plot is only about 30 million VND/ ^m2 .

"The price of 30 million VND/ ^m2 is for a square plot, cars can go right to the house. The land price has just increased, but 3 years ago the price was around 12-15 million VND/ ^m2 . The auction price is high, people don't have money to buy. The past two days, it's been strange, employees of real estate companies have come to the village to put up banners advertising land for sale," Ms. Tan shared.

"Storks" come to sell land

According to Tuoi Tre reporters, one day after the land auction, dozens of brokers from many real estate companies came here to consult and sell land.

"Before participating in the auction, the company also researched through many information channels to determine the value of the land, so they offered such a high price. Only one lot is over 100 million VND/ ^m2 , the rest are only 80 - 90 million VND/ ^m2 . If there are customers, we will sell it quickly, but if there are no buyers, we will pay the auction winning price and aim for long-term investment" - NTP (male broker) said.

Speaking to Tuoi Tre , Mr. Nguyen The Diep, vice president of the Hanoi Real Estate Club, said that the land auctions attracting many people may be due to the 2023 Real Estate Business Law tightening "land subdivision and sale" in 105 cities and towns.

And according to the 2024 Land Law, compensation will follow the market mechanism, so the land recovered for auction later will have a high starting price due to the large compensation price.

It is also possible that investors previously bought land near this area at a very cheap price, so now they want to bid high to push up the price.

Dr. Dao Ngoc Nghiem, vice president of the Vietnam Urban Planning and Development Association, said that many suburban districts of Hanoi are also showing signs of land "heating up". This shows that the demand for buying to live in and buying and reselling is quite large.

However, "to determine the real value of the auctioned land, the first step is for people to conduct a field survey to see if the road system, schools, markets... are convenient. The second step is to find out how land prices in that area fluctuate.

The third step is to learn about local planning to see if this land is close to a major urban area or a key project in the future. Once you have enough information, the land buyer will also become a smart consumer," said Mr. Nghiem.