At 4:30 am on August 20, the auction of 19 land plots in the Lonh Khuc area, Tien Yen commune, Hoai Duc district, Hanoi, came to a close. The tense and exhausting auction, held at the Hoai Duc Cultural and Information Center, lasted for approximately 18 hours and went through 10 bidding rounds.
All the land plots were successfully auctioned off. The highest bid reached VND 133.3 million per square meter, while 11 other plots also exceeded VND 100 million per square meter. Three plots, LK03-6, LK03-7, and LK04-6, were auctioned off at VND 127.3 million per square meter each. The corner plot, LK04-1, fetched VND 121.3 million per square meter. The two lowest bids were VND 91.3 million per square meter, still 12.5 times higher than the starting price.
The plot that fetched the highest price: VND 133.3 million per square meter.
Immediately after the auction, brokers quoted a premium of VND 800 million for the plot with the highest bid of VND 133.3 million per square meter.
On August 10, following the land auction in Thanh Oai, the auctioned plots were advertised with premiums ranging from VND 250 million to VND 550 million per plot, depending on their size and location. Subsequently, the premium decreased to VND 100-200 million.
The auction of 19 land plots in the Lonh Khuc area, Tien Yen commune, commenced at 8 am on August 19, with 517 participants registering 1,100 dossiers. The land plots ranged from 74 to 118 square meters, with a starting price of VND 7.3 million per square meter. Consequently, the investors’ deposits (equivalent to 20% of the starting price) ranged from VND 109 million to nearly VND 173 million per plot.
To acquire a land plot, investors had to go through multiple bidding rounds, with a minimum bid increment of VND 6 million per square meter.
On August 26, Hoai Duc district will continue the auction of land use rights for 20 land plots (LK01 and LK02 plots) belonging to the Technical Infrastructure Project for the auction of land use rights in Tien Yen commune – Long Khuc field.
The land plots range from 89 to 145 square meters, with a starting price of VND 7.3 million per square meter. The auction rules stipulate a minimum of six bidding rounds through direct voting.
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