Three years ago, Mr. Nguyen Van Phuc (42, residing in Hoang Mai, Hanoi) invested in a 60m² plot of land in Dai Ang commune, Thanh Tri district (formerly), aiming to “flip” it for profit, anticipating the area’s upgrade to a district. The plot is located in a residential area, over 1km from the main road, with an alley wide enough for small cars to access.
At that time, the price was around 85 million VND/m², totaling over 5 billion VND. Mr. Phuc took out a bank loan, planning to sell and profit to repay the debt. However, as Thanh Tri did not become a district, demand for real estate in the area plummeted. Mr. Phuc now reports offers as low as 75 million VND/m².
According to surveys, land prices in Dai Ang currently range from 65 to 110 million VND/m², depending on location and infrastructure. Plots in narrow alleys, far from main roads, are virtually illiquid, while land on main roads or near projects retains higher prices. Genuine demand is low, and investors have largely withdrawn.
Like Mr. Phuc, several other investors are also selling at a loss to recover capital.
In Ngoc Hoi, a 5-story, 52m² house is listed at 6.7 billion VND, a 500 million VND reduction from its 2023 purchase price. In Ngu Hiep, a 55m² house is priced at 5 billion VND, nearly 800 million VND less than before. In Tu Hiep, a 37m² property is offered at 5.2 billion VND, with the owner willing to sell below cost to repay bank loans.
 Central Thanh Tri real estate prices remain high. Photo: Duy Anh |
Even land plots once considered rare are seeing losses. A 48m² plot in Dong My is listed at 5 billion VND, approximately 105 million VND/m², a 30% drop from the peak during the land fever before the Ring Road 4 project.
Brokers report that most loss-making transactions involve investors using financial leverage, unable to sustain prolonged loan interest.
Thanh Tri Real Estate Prices Show Strong Polarization
Surveys indicate that Thanh Tri real estate prices vary significantly between central and outlying areas. Van Dien, Tan Trieu, and Thanh Liet, with developed commercial infrastructure and convenient transportation, see street-front houses priced at 120-200 million VND/m², while alley houses accessible by car range from 85-135 million VND/m².
On major routes like Phan Trong Tuyen, Ngoc Hoi, or near Ring Road 3, actual prices can be 10-15% higher than average.
Areas like Ta Thanh Oai, Tu Hiep, Tam Hiep, and Ngu Hiep record prices of 90-150 million VND/m² for street-front houses and 65-100 million VND/m² for car-accessible alley houses. Liquidity remains low due to limited population density and services. Many brokers note that price growth in these areas is relatively stable, primarily serving genuine housing needs rather than speculation.
Lower-priced areas like Dong My, Duyet Ha, Van Phuc, and Yen My range from 70-110 million VND/m² for street-front houses and 35-55 million VND/m² for motorcycle-accessible alleys. These areas have ample land and developing infrastructure, with medium-term price growth potential as Ring Road 4 and connecting routes to Ngoc Hoi – Thuong Tin become operational.
Mr. Quyet, a Thanh Tri real estate broker, notes that the failure of Thanh Tri to become a district has somewhat affected investor sentiment. Recently, real estate prices have shown a slight upward trend, especially near Ring Road 3 and Ring Road 4.
However, actual transaction volumes lack the spikes seen in other “hot” Hanoi areas like Dong Anh, Gia Lam, or Hoai Duc. Buyers are primarily genuine residents, with investors showing little interest.
Explaining Thanh Tri’s sluggish real estate market, Mr. Do Van Tuan, an investor, attributes it to the area’s strong rural character. Many new streets are surrounded by low-rise houses and narrow roads, lacking large-scale commercial centers or complexes.
Residents mainly engage in handicrafts, small trade, or work in nearby industrial zones, resulting in generally low incomes. The local economy is not robust enough to generate significant commercial buying, selling, or rental demand. With weak endogenous demand, land prices struggle to surge despite infrastructure improvements.
Additionally, urban development is constrained by dense populations and numerous ancient villages, limiting large-scale project land availability. Meanwhile, some Thanh Tri areas have relatively high land prices, ranging from 80-100 million VND/m², comparable to or even exceeding certain areas in Ha Dong or former Long Bien districts.
While short-term breakthroughs are unlikely, the area remains promising as transportation infrastructure improves and ring roads materialize.
Duy Anh
– 05:45 28/10/2025
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