In Dong Du commune (Gia Lam district, Hanoi), a piece of land with an area of 50m2, although only located on a village road, the landowner is selling for nearly 2 billion, an increase of about 20% compared to the beginning of 2021.
Real estate brokers in these areas all give information, land is up again like at the beginning of the year because of information about the Red River subdivision planning.
“If investing to surf or use at this time is reasonable, next time when the Planning is announced, the price will go up even higher, even if you have money, you won’t be able to buy it” – a broker said.
The information shared by real estate brokers and investors is that the Red River Urban Subdivision Plan will be approved in early February 2022, land prices in riverside areas will continue to increase.
A perspective in the proposed Red River Urban Subdivision Planning Project. (Photo: KT)
Real estate prices on Thach Cau street (Long Bien district, Hanoi) where it is expected to be located in the Red River Urban Subdivision Planning Project are also rising. Land prices here are showing signs of rapidly increasing by 30 – 50%, a difference of about 15 – 30 million/m2 compared to the beginning of the year. Many investors and people flock here to buy and sell.
Not only is there information about the Red River Urban Subdivision Planning Project, planning information and plans to change administrative boundaries, and “up to district” information that causes land prices in suburban projects in Hanoi. Noi has increased prices sharply. As soon as the epidemic was gradually controlled, land on the outskirts of Hanoi was again sought after by investors.
In Me Linh district (Hanoi), there are about 50 abandoned projects, concentrated in communes along Vo Van Kiet Avenue such as Tien Phong, Trang Viet, Thanh Lam, Dai Thinh, Quang Minh town. After the general planning was approved, investors such as HUD Corporation, Minh Giang, Cienco 5 simultaneously deployed infrastructure and built many apartment projects, causing the Me Linh real estate market to increase again. after gloomy days.
Many investors have returned to Me Linh projects. This is also a suburban area with lower prices than areas such as Gia Lam, Hoai Duc, Thanh Tri… While the price of urban land in some places is 70 – 80 million VND/m2, in Me Linh the price of land is especially high. Villas only trade around the threshold of 22 – 28 million VND/m2.
Land prices in suburban areas of Hanoi continue to increase.
Mr. Nguyen Van Dinh – Chairman of the Vietnam Real Estate Brokers Association said that the real estate market in the last months of the year will recover after the epidemic, but the recovery is gradual and the increase in real estate prices is due to scarcity. supply plus land taxes, raw material prices, equipment, and increased labor costs.
“Those who want to buy real estate at this time need to carefully research the market. Real estate prices increase annually by only 5-10%, but 30-50% is too high. Real estate prices increase when there is investment in infrastructure, but it must be real investment and not just based on planning” – Mr. Nguyen Van Dinh said.
Deputy Director of the Department of Housing and Real Estate Market Management (Ministry of Construction) Nguyen Manh Khoi said that in some localities, there is a situation where some speculators and real estate brokers take advantage of information about housing. planning, promulgation of new land price lists, mergers and establishments, upgrading of administrative units, upgrading of infrastructure systems and implementation of large projects in localities…
“This is similar to the land fever that took place in early 2021 and in previous years. At land fever spots, investors often spread rumors, buy and resell, and entice people to participate in real estate transactions, causing information disturbance to push up real estate prices for profit. . When land fever passes, the people who suffer the most are the people” – Mr. Nguyen Manh Khoi said.
The signs of the market are similar to those at the end of 2020 and early 2021. After continuously increasing prices, the market went into “hibernation” and many investors buried capital in suburban land plots. /.
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