At 8 am on August 31, 2024, a second auction for the usage rights of 93 land lots in Area 3, Quan Lao town, Yen Dinh district, Thanh Hoa province, took place in the town’s People’s Committee hall. The auction attracted thousands of registrations and nearly 500 participants from various localities such as Hanoi, Hai Duong, and Ha Tinh.
The 93 land lots up for auction ranged from 107.63 to 314.06 square meters each. The starting prices ranged from VND 805 million to VND 2.4 billion per lot, equivalent to more than VND 7.4 million per square meter. Accordingly, participating investors had to make deposits ranging from VND 161 million to VND 475 million.
The auction was conducted through direct voting over 75 minutes. Many customers participated and eagerly awaited the results.
While customers were casting their bids, outside the hall, several real estate broker groups were also present, enthusiastically discussing and adding to the lively atmosphere around the auction area.
After the bidding time ended, the organizers proceeded to check the results.
After nearly five hours, the list of successful bidders gradually became clear.
As a result, all 93 land lots were successfully auctioned, with winning bids 1.7 to 2.5 times higher than the starting prices. Lot LK-9:01 (with an area of 113.56 square meters) had the highest winning bid of more than VND 4.3 billion, 2.5 times the starting price (equivalent to nearly VND 38 million per square meter). This lot was won by local resident Nguyen Van Chinh. According to the list, Le Xuan Ky won two land lots, each valued at over VND 3 billion, while the starting price was about VND 1.4 billion per lot.
Several other large investors also won consecutive bids for multiple land lots, worth billions of dong.
A survey of the auction participants revealed that almost all customers aimed to invest. We had a chat with Mr. Manh, a local resident, who shared: “Seeing the positive progress in the land market, I also wanted to buy a lot for investment. Since I didn’t win any lots in the previous auction, I registered to participate again. I bid VND 1.2 billion for lot LK-8:01, with a starting price of VND 839.5 million. However, someone else won it with a higher bid.”
When asked, Ms. Ha, a long-time broker from Quang Xuong district, said that the day before, her team had also participated in an auction in another area of Thanh Hoa province. The auction lasted from morning till night, with over 300 land lots up for grabs. Thanks to thorough research and calculations, her group won about 60 lots, providing a plentiful supply to offer their clients until the end of the year.
Ms. Ha also added that in the previous auction of 106 land lots in Area 3, Quan Lao town (first phase), her group participated and won several dozen lots.
It is known that on September 10, 2024, Yen Dinh district will continue to organize the third auction phase for 96 land lots in Area 3, Quan Lao town. The smallest lot has an area of 110.5 square meters with a starting price of VND 7 million per square meter, while the largest lot is 369.5 square meters with a starting price of VND 6.3 million.
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