After the “fever” in apartment prices, the land market in Hanoi also recorded rapid price increases after a long period of quiet.
As noted by Dan Tri reporter, on many real estate trading sites recently, there have been many ads for sale of land and residential real estate products in Hanoi. Notably, the selling prices of land and residential land in the central districts of Hanoi are all over 100 million VND/m2 to hundreds of millions of VND/m2.
A plot of serviced land with an area of 50m2 in Kien Hung ward, Ha Dong district is for sale for 7.2 billion VND, equivalent to about 144 million VND/m2. The price of this land plot is recorded by region to be about 30 million VND/m2 higher than at the end of 2023.
Similarly, a plot of land with an area of 58m2 in Phuong Canh ward, Nam Tu Liem district has an asking price of 7.02 billion VND, equivalent to 120 million VND/m2. This plot of land is located on a corner lot, off the road.
A plot of resettlement land in Ngoc Thuy, Long Bien district with an area of 61m2 is for sale for 12.5 billion VND, equivalent to about 204 million VND/m2.
According to Mr. Nguyen The Anh, in Hanoi, at the end of last year he was looking to buy land in Hoang Mai district. At that time, he was told by a broker that a 48m2 plot of land in X2A resettlement area, Yen So ward was for sale for 6.2 billion VND.
“I quite like the above plot of land, but I can’t buy it because I haven’t arranged the finances yet. Recently, I saw information about that plot of land being sold for 7.9 billion VND. Asking the broker again, I learned that this plot of land is for sale. “passed through the hands” of speculators and was sold at a high price,” Mr. The Anh shared.
Not surprised by the increase in land prices, Mr. Nguyen Van Quang – a professional real estate investor in Hanoi – admitted that land prices in recent times have also increased along with apartment prices. In addition to being a “king investment” product, the increase in land prices is due to the market’s scarcity of other real estate supplies, especially apartments.
“Investors still consider land as an effective investment channel with good price increases. In addition, a large number of investors have sold apartments at high prices and switched to “consolidating” land.” , Mr. Quang shared.
Mr. Nguyen Van Dinh – Chairman of the Vietnam Association of Real Estate Brokers (VARS) – said that investors begin the journey of “hunting” for land, in areas with strong infrastructure development and rapid urbanization. Highly urbanized with prices considered to be quite “bargain”, with much room for growth in the future. In addition, the need to buy land as an asset is still popular with investors and continues to be the top chosen segment.
According to Mr. Dinh, the land segment is always popular with investors thanks to many factors, typically the preference for houses attached to land and the need to accumulate safe assets as well as the ability to increase profits from land is still present. At a high level.
According to Mr. Nguyen The Diep – Vice President of Hanoi Real Estate Club – the sharp increase in housing prices in recent times is due to many projects having problems with policy mechanisms, legal procedures on bidding and bidding. Prices dragged on for many months, causing the project to not be completed on time. Along with that, the preparation for implementing the land price list according to market prices is also the reason for the price increase.
To effectively invest in land during this period, many experts recommend that buyers prioritize medium and long-term investments. Investors must have a systematic strategy to ensure expected profits. If you are hopeful, you should not spend money “surfing” because it is too risky.
Besides, buyers need to carefully consider and calculate the use of financial leverage and debt repayment cash flow. Accordingly, if you borrow from a bank, the loan ratio should be a maximum of 50%, and the amount of periodic interest payments should only account for a maximum of 50% of your monthly income, which is safe and reasonable. If the leverage ratio is high and the monthly debt payment ratio exceeds 50% of income, the buyer will face unpredictable risks.
