Rural Village Experiences Land Price Surge
Over the past week, following the announcement of the detailed planning for the construction of the Western Industrial Zone in Ha Tinh City, the real estate market in Toan Luu Commune (Ha Tinh Province) has seen an unprecedented surge in activity.
Our reporters observed numerous groups gathering along Provincial Road 550 in Toan Luu, discussing and photographing vacant plots. Narrow paths leading to villages are lined with cars as prospective buyers inspect properties. Even in agricultural villages like Ngoc Ha and Nam Son, the once-peaceful atmosphere has been disrupted by a sudden influx of vehicles.
Investors are targeting even small plots in narrow alleys.
A resident of Nam Son shared that a 160m² plot adjacent to their home sold for 700 million VND earlier in 2025. It was resold twice, reaching 1.2 billion VND, and is now listed at over 1.6 billion VND. Nearby, a 200m² plot is priced at 2.2 billion VND. Located on a narrow lane with sparse population, the area is surrounded by forests, abandoned fields, and a church.
“The village has never been this bustling. This plot isn’t in a prime location—it’s only suitable for residential use, not business. Locals are skeptical of these prices; no one here would invest billions,” said a Nam Son resident.
Posing as a buyer, our reporter was offered a 140m² plot in Toan Luu by a Ha Tinh real estate agent. The plot includes 100m² of residential land and 40m² of long-term agricultural land, priced at over 1.6 billion VND (11 million VND/m²).
Formerly barren hills are now being cleared and subdivided for sale.
Previously a barren hill with sparse population, the area has recently been cleared and subdivided. However, infrastructure remains rudimentary, with narrow internal roads and no utilities.
Pointing to a rice field, the agent claimed, “The Western Industrial Zone will be built there. Early investment in this area is highly promising. Prices are rising hourly due to high investor demand. Act now, or prices may increase tomorrow.”
“This is a speculative land frenzy…”
Nguyen Thi T. (40, Ngoc Ha village), a café owner, noted a sudden surge in land inspections over the past week, with cars clogging village roads. “There’s ample rural land here, with some households owning thousands of square meters. Local demand is low; most buyers are from elsewhere, many with Nghe An license plates,” she said.
Speaking to Tien Phong, Toan Luu Commune’s leadership confirmed a sharp increase in real estate agents following the industrial zone announcement, causing public concern.
Land speculation is rampant in Toan Luu.
The commune leader stated that prices in 4-5 of the 23 villages have risen by 40%. Affected areas are mostly reclaimed hills and former cassava/corn fields.
“Speculators may be hoarding land following industrial zone news, causing unusual market activity. While many agents are surveying, no actual transactions have been recorded. It’s purely speculative flipping, with no genuine residential demand,” they asserted.
Social media highlights the influx of land speculators in Toan Luu.
Local authorities have warned residents against speculative buying to avoid debt. “We’ve advised local credit funds to restrict rural land loans during this frenzy. Residents with genuine housing needs will be supported later, as land remains abundant,” they added.
Toan Luu’s leadership emphasized the speculative nature of the surge, unrelated to local demand. “This artificial frenzy is driven by speculators and agents. We’ll monitor transactions to prevent violations,” they concluded.
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