On March 27, an auction for the usage rights of 23 land lots was held at the People’s Committee of Tien Hai town, Tien Hai district, Thai Binh province. The land lots had a total residential area of 3,217.3 m2, with lot sizes ranging from 90 to 209.5 m2. The starting prices ranged from VND 20 to 82.5 million per m2, equivalent to VND 1.8 billion to 12.405 billion per lot.
The auction was a success. Notably, the lot with an area of 150.4 m2 fetched the highest price of VND 23 billion, 1.8 times the starting price (which was over VND 12.4 billion). This equates to a winning price of nearly VND 153 million per m2.
The second-highest winning bid was for a lot with an area of 141.4 m2, which had a starting price of over VND 10.6 billion and was successfully auctioned for over VND 18.86 billion. Lots with areas ranging from 90 m2 to 90.3 m2 also saw successful bids, with winning prices ranging from VND 3.11 billion to over VND 3.8 billion, nearly double the starting prices.
Additionally, many lots recorded winning prices that were nearly double their starting prices. For instance, lot D01-4 had a starting price of over VND 3.1 billion and a winning bid of over VND 7.3 billion, while lot D02-1, with an area of 147.5 m2, started at over VND 4.05 billion and was auctioned for nearly VND 9.3 billion.
Furthermore, some other lots, such as lot D01-3 with an area of 103 m2 and a starting price of VND 2.575 billion, saw its price increase by 3.2 times to nearly VND 8.4 billion. Overall, the lowest winning bid at the auction was still over VND 3 billion.
Comparatively, the highest winning price of nearly VND 158.2 million per m2 is on par with land prices in many districts of Hanoi. Specifically, according to data from Batdongsan.com.vn, land prices in Hoai Duc district range from VND 65-120 million per m2, while land prices on Xuan Canh street (Dong Anh district) are VND 130-147 million per m2…
In reality, a survey on Batdongsan.com.vn also revealed that land prices in Tien Hai district, Thai Binh province, have been fluctuating around VND 12.8 million per m2, marking a 30.6% increase over the past year.
Recently, the Thai Binh Provincial Police issued a warning about a scheme that takes advantage of rumors of provincial mergers to inflate real estate prices.
Specifically, there have been discussions about potential provincial merger plans in online communities, especially on Facebook. Investment invitations often cite reasons such as the government’s focus on infrastructure development in newly merged administrative units, leading to an increase in real estate values.
Therefore, the Thai Binh Provincial Police advises investors and citizens to remain calm and not fall for these unverified rumors circulating on social media. Official information regarding administrative mergers will only be confirmed by authorized spokespersons.
Prior to engaging in any real estate transactions, investors are encouraged to thoroughly research the legal aspects of the property, including ownership, zoning, and tax obligations, to make informed decisions about investment potential and future success.
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The upcoming auction in Hue City offers an exciting opportunity for investors and homeowners alike. A total of 91 land lots, located in the prestigious wards of Phong Hien, Phong An, and Phong Thu in the Phong Dien district, will be up for grabs in April. With a starting price of just VND 5.5 million per square meter for the most affordable lot and VND 8.3 million for the premium lot, this auction presents a rare chance to acquire prime real estate in a sought-after location.
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The most expensive land in Dan Phuong District, Hanoi, is along National Highway 32 (from the border of Hoai Duc to the Tượng Đài Monument junction), with a price tag of 46 million VND per square meter, according to Hanoi’s new land price framework.
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The People’s Committee of Ninh Binh province has directed the provincial Police and relevant sectors to investigate and clarify the reasons behind the unusual surge in real estate prices in Hoa Lu city.
The Next Property Boom: Navigating the Real Estate “Fever”
Investors need to remain vigilant and not be pressured into hasty decisions by pushy brokers. It is crucial to avoid making real estate investment decisions based on rumors or speculation. Being cautious and well-informed is key to making prudent investment choices.
