On August 10, the People’s Committee of Thanh Oai District, Hanoi, organized an auction for 68 land plots in Ngõ Ba, Thanh Thản village, Thanh Cao commune, with astonishingly high winning bids, up to 7-8 times the starting price.
The land plots up for auction had areas ranging from 60 to 85 square meters, with starting prices ranging from VND 8.6 million to VND 12.5 million per square meter. However, many plots received winning bids ranging from VND 52 million to VND 100 million per square meter.
Land auction in Thanh Oai district on August 10
Many investors were surprised as thousands of land plots in suburban districts, located 30-40 kilometers from the city center, were sold at sky-high prices.
According to the representative of the People’s Committee of Thanh Oai District, the auction process was absolutely safe and secure, with only a few inquiries from customers, and everything was under control.
The auction attracted the participation of 1,600 people, with a total of 7,000 registration dossiers submitted. This set a record for the number of dossiers participating in a land auction in Thanh Oai District.
Regarding the starting price, the representative stated that it was not meant to be a reference price for bidders but only served as a basis for calculating the 20% deposit. He affirmed, “I believe that bidders have also considered market prices.”
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