The Quang Tri Province’s Asset Auction Service Center recently held an auction for 18 land plots in Area 7C, detailed planning of the residential area south of Tran Hung Dao Street, Dong Hoi Ward, Quang Tri Province (formerly Nam Ly Ward, Dong Hoi City, Quang Binh Province).
The land plots up for auction ranged from 48.3 sq. m to 183.5 sq. m in area, with starting prices from VND 793,810,500 to VND 3,015,822,500 per plot. The auction attracted 181 participants, with 611 bids submitted.
Image: Quang Tri Province’s Asset Auction Service Center
All the land plots were successfully auctioned, bringing in a total of nearly VND 86 billion, almost VND 57 billion higher than the starting price.
Notably, plot C17 (plot number 266, map number 37), with an area of 104.8 sq. m, had a starting price of just over VND 2 billion but sold for nearly VND 7.7 billion, 3.72 times the initial price, equivalent to VND 73 million per sq. m.
The remaining plots sold for prices two to 2.7 times higher than their starting bids.
Earlier, in mid-June 2025, the former Dong Hoi City, Quang Binh Province, auctioned 36 land lots in Hai Thanh Ward, Bac Nghia Ward, and Bao Ninh Commune, with areas ranging from 94.7 sq. m to 337.1 sq. m and starting prices from VND 568.2 million to over VND 6.7 billion per lot. The auction attracted more than 300 participants with over 700 dossiers.
Most of the land lots auctioned during that session sold for prices three to four times higher than the starting bids. Notably, an individual won the auction for more than 10 land lots in this session.
Concerningly, after winning the land auctions, some individuals immediately advertised these plots for resale on social media at significantly higher prices, raising concerns about land price speculation ahead of the merger between Quang Binh and Quang Tri provinces.
The Quang Binh Province Land Development Center had to temporarily halt land auctions to seek guidance from the provincial People’s Committee due to the significant gap between auction prices and market values.
Prime Real Estate Auction: 100sqm Lot Reaches 7.7 Billion VND, Almost Quadruple the Reserve Price
The auction of 18 land plots in the residential area south of Tran Hung Dao Street, in Dong Hoi ward, was a resounding success, generating nearly VND86 billion. The auction witnessed an enthusiastic response, with winning bids for several plots reaching twice to 2.7 times the starting price, and in one exceptional case, a plot was secured for nearly four times the reserve price.
Prime Real Estate in Dong Hoi: A Compact 100sqm Lot Fetching a Whopping 7.7 Billion VND at Auction
The auction price for a 104.8 sq. m land plot in Dong Hoi Ward, Quang Tri Province, soared to 7.7 billion VND, equivalent to over 73 million VND per square meter.
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