The Dong Phuom auction site (Trach My Loc commune, Phuc Tho district) is located near Provincial Road 82 and has recently been completed with technical infrastructure, making it a highly regarded area for real estate investors. On August 29th, the Phuc Tho Land Development Fund Center held an auction for 30 residential land plots in this area.
With a starting price of VND 23.5 million per square meter, the 30 land plots in the Dong Phuom area witnessed intense bidding. The auction results ranged from VND 30 million to VND 60 million per square meter. Notably, multiple plots were won by the same bidder at high prices. For instance, one bidder won the auction for plots DG03, DG04, DG05, and DG07, while another bidder secured plots DG08, DG09, and DG14.
Numerous real estate agencies set up booths and umbrellas at the land plots to attract potential customers. These agencies offered the auctioned plots at a premium, ranging from VND 200 million to VND 600 million per plot.
Ms. Hoang Kim Ngoc, a resident of Phuc Tho district, shared that she participated in the auction for three land plots and successfully won two. One plot was secured at VND 40.8 million per square meter, while the other was won at VND 41.8 million per square meter. Additionally, her husband also won an auction for one plot. Immediately after Ms. Ngoc’s win, she received offers from customers interested in purchasing the plots. As an investor herself, Ms. Ngoc plans to sell the plots, but the final premium price will be decided after discussion with her husband.
Following the auction, investors flocked to the Dong Phuom site to inspect the infrastructure of the land plots. One customer shared that due to the desirable location, the land prices in this area are expected to reach VND 60-70 million per square meter. However, the high starting price and single round of bidding made investors cautious about bidding too high and potentially defaulting. Consequently, the auction results at Dong Phuom did not witness the same dramatic price increases as seen in Thanh Oai and Hoai Duc districts.
In the upcoming period, Phuc Tho district is expected to auction more residential land plots in various communes within its jurisdiction.
Investors examine the land plots and discuss the premium prices after the auction.
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