Recently, the Hanoi People’s Committee approved the route and location plan for the urban railway line No. 5, spanning from Van Cao to Ngoc Khanh, Lang, and Hoa Lac. This positive development has immediately stirred the Hoa Lac land market.
Hoa Lac land prices show a slight upward trend compared to six months ago.
According to Batdongsan.com.vn, Hoa Lac land prices have seen a slight increase compared to six months ago. Specifically, plots along the frontage of Tien Xuan (now Yen Xuan) have risen from VND 30-32 million/m² to VND 33-35 million/m². Commercial plots in former Tan Xa (now Ha Bang) have also increased significantly, from VND 37-40 million/m² to VND 39-42 million/m².
Plots within villages have seen prices rise from VND 25-27 million/m² to VND 26-28 million/m². Land in Binh Yen has established a new price range, increasing from VND 22-24 million/m² to VND 24-27 million/m². Dual-road plots in former Thach Hoa (now Hoa Lac) have also increased, from VND 38-40 million/m² to VND 40-43 million/m².
In the Hoa Lac area, land prices in Quoc Oai have also risen due to infrastructure news. Plots accessible by car in Hoa Thach have increased by VND 1-2 million/m², ranging from VND 25-27 million/m². Former Dong Yen plots (now Phu Cat) along Provincial Road 412B have set a new price range, from VND 40-44 million/m² to VND 42-46 million/m². Deeper village plots have also seen notable increases, from VND 11-13 million/m² to VND 13-15 million/m². Land in Phu Man (now Phu Cat) has also increased by VND 1-3 million/m² compared to six months ago.
In Son Tay, plots along the 18m widened road near the planned Metro Line 05 station have risen from VND 30-31 million/m² to VND 33-35 million/m². Plots in Co Dong along major roads have increased from VND 29-32 million/m² to VND 32-35 million/m². A VND 2-3 million/m² increase has also been recorded for less commercially viable village plots.
Despite positive news from the urban railway line No. 5 and rising prices, local brokers report steady transactions without a market frenzy. This is attributed to earlier price hikes in Hoa Lac earlier this year, preventing a new surge. Currently, Hoa Lac lags behind hotter markets like Dong Anh and Dan Phuong.
Experienced investor Nguyen Hai Minh notes: “Investors are flocking to Dan Phuong and Dong Anh due to major projects. While Hoa Lac has received positive news, its transaction volume and price increases are weaker compared to these areas.”
Urban railway line No. 5, from Van Cao to Ngoc Khanh, Lang, and Hoa Lac, will start at the Van Cao – Hoang Hoa Tham intersection and end at Thach Binh station (Hoa Lac), spanning 39.6 km. The project includes two additional branches connecting Depot No. 1 in Son Dong – Duong Hoa and Depot No. 2 in Hoa Lac, adding approximately 4.8 km.
The line will feature 20 stations: 6 underground, 3 elevated, and 11 ground-level, primarily along Thang Long Avenue and the Hoa Lac – Hoa Binh Expressway.
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