Vibrant Auctions
2023 is considered a tough year for the real estate market, especially the land segment. However, with the advantage of synchronized infrastructure, favorable location planning, clear legal status, auctioned land in many districts of Hanoi still attracts a lot of attention. At the beginning of this year, many suburban districts of Hanoi organized many land auctions in their areas.
For example, the recent auction of 29 plots of land in Dong Bang Village, Dong Thai Commune, organized by the Land Development Center of Ba Vi District at the end of February attracted nearly 90 participants. This is the first land auction of Ba Vi District this year but has received a large number of customers compared to land auctions in 2023 in Ba Vi District.
The auctioned plots of land had starting prices ranging from 22.3 – 46.3 million VND/m2, with synchronized infrastructure, located near National Highway 32 and only about 5 km from the district center. In this auction, 28 plots of land were successfully auctioned. The highest winning bid was 47 million VND/m2.
Successful land auctions at the beginning of the year (photo: N.M).
Dong Anh District has cooperated with Auction Company No. 5 – National Cooperative to organize an auction of the land use rights in the residential area LK6 of the Technical Infrastructure Construction Project in Thuy Lam Commune.
The purpose of use is long-term housing construction, with a permissible construction density from 76% to 100% and a maximum height of 5 floors. The auctioned land area is 2,872.2m2 divided into 33 plots with areas ranging from 80 to 120.4m2. The starting prices range from 23.5 million VND/m2 to 29 million VND/m2, depending on the location.
As a result, all auctioned plots of land were successfully bid, with the highest winning bid reaching 61 million VND/m2, and the lowest winning bid was 35 million VND/m2. The total amount collected for the budget was more than 143 billion VND, exceeding nearly 69 billion VND compared to the initial expected price.
It is expected that on March 10th, 50 plots of land in LK2, LK7, which are also part of the Technical Infrastructure Construction Project in Thuy Lam Commune, will be auctioned.
In Phuc Tho District, a land auction of land use rights for 14 plots of land in Dong Tre Lo Gio Zone, Vong Xuyen Commune, will be held on March 15th. The starting prices for these plots of land are two levels: 17.2 million VND/m2 and 18.5 million VND/m2.
In Hoai Duc District, a land auction of 23 plots of land, which are assets of the People’s Committee of Hoai Duc District, will be held on the morning of March 18th.
These auctioned plots of land belong to the Technical Infrastructure Construction Project for the land auction area in Dong Nhan Village, Dong La Commune, Hoai Duc District. The 23 auctioned plots of land have a total area of 2,441.8m2.
Meanwhile, Me Linh District will organize an auction of 19 plots of land on the afternoon of March 16th. These are long-term use land plots. According to the information released, the 19 auctioned plots of land belong to the technical infrastructure construction project in Chu Tran Village, Tien Thinh Commune, Me Linh District.
The areas of the plots of land range from 90 – 101.1m2. The starting prices range from 23.2-30 million VND/m2, equivalent to over 2 billion VND to over 3 billion VND/plot. The deadline for submitting auction participation documents is before 5 p.m. on March 13th.
Beware of speculation that drives up prices
Auctioned land is still the leading product for the land market in 2024. With the landscape gradually improving in the real estate market, investor confidence is returning. In March and the second quarter, districts such as Dong Anh, Thanh Tri, Hoai Duc, Phuc Tho, Me Linh… will continue to release new auctioned land areas to the market with invested infrastructure, planning close to residential areas, and connecting to major traffic routes with synchronized social infrastructure, meeting the needs for the formation of modern and civilized new residential areas.
With these advantages, auctioned land will continue to attract the attention of investors. Successful auctions from the early months and the first quarter of 2024 will help localities achieve their budget plans from land auctions in 2024.
