The Battle for Hanoi’s Real Estate: Will Hoai Duc Mirror Thanh Oai’s Auction Frenzy with a Sizzling 40 Million VND per sq. m?

There was a buzz of excitement in Hoai Duc district, Hanoi, this morning as a land auction for 19 plots in the LK04 area of Lang Khuc village, Tien Yen commune, took place. With plot sizes ranging from 74m2 to 118m2, the starting bid was set at VND 7.3 million per square meter, and the required deposit ranged from VND 109 to 172 million per plot.

The auction, held at the Hoai Duc district sports house, attracted a large crowd, with over 700 participants registering their interest beforehand.

According to Batdongsan.com.vn’s price history tool, land prices in Tien Yen commune are currently trading at an average of VND 43 million per square meter, a 30% increase from the first quarter of 2024 and a 48.3% jump year-on-year.

Nearby communes also boast impressive land prices, with Duc Thuong reaching VND 62 million per square meter, Duc Giang at VND 57 million, Minh Khai at VND 56 million, and Yen So at VND 51 million. In contrast, land in communes like Dac So, Duong Lieu, Cat Que, and Van Con is more affordable, ranging from VND 22 to 41 million per square meter.