On May 23rd, the Phu Xuyen District Land Development Center, in collaboration with relevant units, organized a land-use rights auction for 76 land lots with a total area of 6,487.98 square meters in the project of constructing technical infrastructure in Duong La and Phu Tuc villages, Phu Tuc commune.
According to the results announced after the auction, all 76 land lots were successfully auctioned. The total auction winning amount was nearly VND 287 billion, a significant increase from the starting price of over VND 30 billion, nearly 10 times higher.
An axis road in Phu Xuyen District, Hanoi. Illustrative image
The starting price for the land lots was VND 4,682,000 per square meter, with areas ranging from 75.36 square meters to 99.93 square meters… The highest winning bid was VND 62 million per square meter, while the lowest was VND 36 million per square meter, with many lots seeing a 7 to 12 times increase compared to the reserve price.
Most of the successful bidders were locals from Phu Xuyen District and neighboring districts such as Thanh Oai and Thanh Tri.
The land lots are located near a major transportation route and feature well-planned technical infrastructure. They are also close to the southern development axis of Hanoi, which makes them highly attractive to investors for their profit potential and long-term development prospects.
The land auctions in Phu Xuyen have been stable, with almost no cases of bidders backing out after winning the auction.
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