This morning’s land auction (August 29) at the Phuc Tho District People’s Committee office saw the participation of hundreds of people bidding on 39 land lots. Of these, 30 lots were located in Trach My Loc’s Doc Tranh area, measuring 96-148 square meters, with a starting price of VND 23.4 million per square meter. The remaining lots were in Tho Loc, starting at VND 19.8 million per square meter.
Participants were required to place a deposit of 20% of the starting price of the land plot, equivalent to VND 450-700 million per lot. This deposit is 3.5-4 times higher than the amount required in the previous auctions held in Thanh Oai and Hoai Duc.
The auction attracted more than 650 applications, with over 350 investors taking part, translating to approximately nine interested parties per land lot.
Inside the auction hall. Photo: N.T |
Unlike the most recent auction in Hoai Duc, which featured multiple rounds with a minimum of six rounds, this auction utilized a sealed bidding process for individual land lots.
According to preliminary results, all 39 land lots were successfully auctioned. The highest bid was VND 60 million per square meter, more than 2.6 times the starting price, for a lot measuring nearly 149 square meters. This translates to a total cost of approximately VND 9 billion for the winning bidder.
Most of the land plots were sold at prices ranging from VND 24 million to VND 40 million per square meter. The lowest winning bid was slightly over VND 24 million per square meter.
A survey of surrounding residential areas revealed that land prices on main roads were around VND 40 million per square meter, while land in alleys ranged from VND 20-30 million.
In comparison to the nearby areas, the auction prices were approximately 1.5 times higher.
One participant in the auction shared that prior to the event, many customers had actively surveyed the market and researched land lots that aligned with their needs. Their bidding prices were determined based on their financial capabilities and the perceived potential of the land in the region.
The auction utilized a sealed bidding process for individual land lots. Photo: N.T |
As with many previous auctions, during and after the event, brokers outside the auction hall and on various real estate trading groups offered to buy and sell the winning land lots at a premium of VND 100-300 million per lot.
In September, Phuc Tho District also plans to auction 50 land-use rights certificates. Specifically, 30 certificates are for lots in TT01, TT03, TT04, TT06, and TT07 of the Doc Tranh area in Trach My Loc commune, with areas ranging from 85 to 162 square meters and a starting price of VND 23.4 million per square meter.
Nine certificates are for lots in TT08 of the Dong Phuom area in Tho Loc commune, with areas ranging from 134 to 185 square meters and a starting price of VND 19.8 million per square meter.
Eleven certificates are for lots in the Huong Nam area of Xuan Dinh commune, with areas ranging from 99 to 196 square meters and a starting price of VND 25 million per square meter. The auction is expected to take place on the afternoon of September 10.
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Recently, Ha Dong District temporarily postponed and has not yet determined a new date for the auction of 27 land lots in Phu Luong, Yen Nghia, and Duong Noi wards. Initially, the auction was scheduled for September 7. Last weekend, Hoai Duc District announced the suspension of the auction of 52 lots, which was planned for early September, pending an inspection by the Ministry of Natural Resources and Environment on related matters. |
Hong Khanh
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