What $15 Billion Dong Can Get You in Hanoi’s Real Estate Market?

A recent auction of 19 land lots in Hoai Duc, Hanoi, on August 19th, saw the highest bid reach an impressive 133.3 million VND per square meter. With a total area of over 113 square meters, this particular lot fetched a staggering 15 billion VND, equivalent to the cost of a high-end apartment or a landed property in the inner districts of Hanoi.

For instance, several real estate websites feature high-end apartments in Lang Thuong ward, Dong Da district, with areas of 140 and 145 square meters, listed for 13.5 and 15 billion VND, respectively.

In the same vein, a 145-square-meter apartment on Lang Ha Street, Dong Da district, is on the market for nearly 13 billion VND. Moving to Ba Dinh district, a 115-square-meter apartment in Ngoc Khanh ward is listed at 15.5 billion VND, while a 124-square-meter apartment in Thanh Cong is priced at 14 billion VND.

In the Hai Ba Trung district, a high-end 145-square-meter apartment is listed at 14.6 billion VND, while a landed property with an area of 80 square meters is priced at 15.8 billion VND.

With 15 billion VND, investors also have the option to choose two high-end apartments with areas ranging from 70 to 80 square meters in central districts such as Hai Ba Trung, Ba Dinh, or Dong Da.

For those seeking more affordable options, the same budget can fetch three apartments with areas of 60 to 70 square meters in districts like Cau Giay, Nam Tu Liem, Bac Tu Liem, Thanh Xuan, or Hoang Mai.

Additionally, investors can consider purchasing a terraced house with an area of 60 to 100 square meters in urban areas such as Mo Lao (Ha Dong), Dai Kim (Hoang Mai), or Xuan Phuong (Nam Tu Liem) with the same budget.

Notably, these segments have shown significant potential for price appreciation. According to PropertyGuru Vietnam, apartment prices have increased by approximately 31% over the past year, while landed property prices have risen by about 32%. In addition to their potential for capital gains, these types of properties can also generate stable rental income, ranging from 15 to 20 million VND per month.

As reported by VTC News, on August 19, Hoai Duc district held an auction for the usage rights of 19 land lots in the LK04 area of Lang Khuc village, Tien Yen commune. The lots ranged from 74 to 118 square meters, with a starting price of 7.3 million VND per square meter. The location of these lots is adjacent to the route of the Ring Road 4 project. However, the surrounding infrastructure remains underdeveloped, mainly consisting of agricultural fields.

To participate in the auction, investors were required to make a deposit ranging from 109 to 172 million VND per lot. After a lengthy 19-hour auction with nine rounds of bidding, the 19 land lots in Lang Khuc village, Tien Yen commune, Hoai Duc district, finally found their owners.

The highest bid was for lot LK03-12, a corner lot with three frontages, measuring over 113 square meters. With a winning bid of 133.3 million VND per square meter, the total value exceeded 15 billion VND, a remarkable 18.2 times the starting price of 7.3 million VND per square meter.

The lowest winning bid was 91.3 million VND per square meter, while the remaining lots received bids ranging from over 97 million to over 127 million VND per square meter.