Regarding the abnormally high land auction results in some suburban districts, on August 22, the Hanoi People’s Committee issued a document requesting local authorities to inspect, detect, and handle any violations.
According to the Hanoi People’s Committee, there have been instances of land use rights auctions in the city with winning bids significantly higher than the starting price. For example, land auction prices in Thanh Oai district were 7-8 times higher, and in Hoai Duc district, they reached up to 18 times the starting price.
The Hanoi People’s Committee believes that these abnormally high winning bids may impact the city’s socio-economic development, investment and business environment, and the real estate market. Therefore, they have requested the Hanoi Department of Natural Resources and Environment to coordinate with relevant departments to inspect all land auctions in Thanh Oai and Hoai Duc districts and promptly detect and strictly handle any legal violations. They will also review the auction processes, procedures, and regulations in the districts and report their findings to the city’s People’s Committee for further guidance and ensuring compliance with auction regulations.
The land auctioned in Hoai Duc district reached a peak price of VND 133 million/sq.m.
The city’s People’s Committee also requested the People’s Committees of districts, counties, and towns to review the entire process of land-use rights auctions in their respective areas to ensure compliance with legal regulations.
Earlier, from mid-August, many suburban districts organized auctions for land-use rights. However, the winning bids were exceptionally high, with prices in Thanh Oai district surpassing VND 100 million/sq.m and Hoai Duc district reaching VND 133 million/sq.m. In contrast, the average land price in these areas ranges from VND 40-60 million/sq.m. This has raised suspicions of collusion among certain individuals to drive up land prices for personal gain.
On August 21, the Hanoi Department of Natural Resources and Environment announced that they are coordinating with the Hanoi Public Security to verify and clarify the involvement of certain individuals in linking and inflating land prices.
On the same day, the Prime Minister also issued a dispatch requesting the Chairpersons of the People’s Committees of provinces and cities to direct relevant agencies to review the organization of land-use right auctions in their respective areas to ensure compliance with the law, transparency, and timely detection and strict handling of violations. The dispatch aims to prevent individuals from taking advantage of land auctions for personal gain and causing turmoil in the market.
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