Present at the auction of 19 lots in Long Khuc village, Tien Yen, Hoai Duc, Hanoi on August 20th, Tien Phong reporters witnessed the emergence of numerous real estate brokers setting up shop next to the auction site. Furthermore, multiple land brokers were observed setting up tents, laying out tables and chairs, and actively soliciting customers within the auction area itself.
Posing as investors interested in purchasing land from the 19-lot auction in Long Khuc village, our team was approached by several eager brokers.
Numerous real estate brokerages have sprung up adjacent to the 19-lot auction site in Long Khuc village, Tien Yen, Hoai Duc, Hanoi.
According to broker H., an employee at a newly established real estate agency next to the project site, “Following the conclusion of the auction at 4:30 am this morning (August 20th), we’ve received multiple listings from investors looking to sell their lots at a premium. Currently, the premium for plots in this area ranges from VND 250-600 million per lot, depending on the location. For instance, lots 04 and 05 in LK03 are being offered at a premium of VND 600 million each. Additionally, there is a lot in LK03-03 being sold at a premium of VND 250 million, with the auction-winning price being approximately VND 100 million per square meter, including the premium.”
|
|
|
The winning bids for the 19 lots in the Long Khuc village, Tien Yen (Hoai Duc, Hanoi) ranged from VND 250-600 million per lot. Video: Dinh Phong – Le Thu. |
Explaining the reason for the significant premiums on certain lots, broker H. revealed that it was due to investors securing these lots at lower winning bids. For example, lots 04 and 05 in LK03 had a winning bid of VND 91.3 million per square meter, while the adjacent lot 03 had a winning bid of VND 97.3 million per square meter.
“If you’re interested in purchasing, we will proceed with a deposit contract with the landowner. At the time of signing, you will pay the deposit plus the premium. Simultaneously, both parties will sign an authorization for disposition, after which you will pay the auction-winning price as stipulated…”, the broker explained.
Land brokers set up tents, laid out tables and chairs, and actively solicited customers within the auction area.
Several lots in the auction were being offered at premiums ranging from VND 250-600 million. The 19 auctioned plots in Long Khuc village, Tien Yen, are located alongside the dike road and in close proximity to the Belt Road 4.
As Tien Phong reported, the auction of 19 plots in Long Khuc village, Tien Yen (Hoai Duc, Hanoi) on August 19th lasted through the night, concluding at 4:30 am on August 20th. After nine rounds of bidding, the highest winning bid was VND 133.3 million per square meter, while the lowest was VND 91.3 million per square meter.
In reality, according to several real estate brokers, the price of VND 133.3 million per square meter has set a new benchmark for land values in the area, as it far exceeds the market prices in the surrounding neighborhoods.
The highest winning bid of VND 133.3 million per square meter was for LK03-12, a corner plot measuring over 113 square meters. Compared to the starting price of VND 7.3 million, the investor paid more than 18 times the original price for this lot.
In a discussion with Tien Phong reporters, TS. Tran Xuan Luong, Vice President of the Institute for Research and Assessment of Real Estate in Vietnam, attributed the land auction fever in outlying districts such as Thanh Oai and Hoai Duc, which resulted in winning bids significantly higher than market prices, to the manipulation and price inflation by speculative groups. He noted that recent auctions have seen the participation of investor groups from Hai Duong, Bac Ninh, and Bac Giang, who have been driving up prices. This dynamic is expected to further increase land and property prices in the future, making it challenging for those with genuine housing needs to enter the market.
Therefore, TS. Tran Xuan Luong suggested that to curb speculation and price manipulation, the deposit amount should be increased to 50% of the initial value. Additionally, he proposed that successful bidders should be restricted from reselling their lots for 1-2 years after the auction, and if they do so within this period, they should be subject to higher taxes…
Astonishingly high price for old and dilapidated apartment buildings reaching nearly 200 million VND/m2, rivaling the most luxurious condominiums in Hanoi
Old collective apartments with prices starting from 100 million VND/m2 are usually the first-floor units that can be used for commercial purposes, while the upper-floor units are priced at 60-80 million VND/m2 for residential purposes.
In 2023, GELEX earns nearly 1,400 billion VND
In the face of macroeconomic pressures over the past year, GELEX Corporation has implemented flexible strategies to maintain stability and strive for sustainable growth.
Chinese citizens flock to buy 280 tons of gold, realizing real estate and stocks are no longer a good investment channel
Regardless of the global decline in demand for gold, the purchasing power of Chinese citizens has propelled the price of gold to surpass the $2,000 per ounce threshold in 2023.
