On the morning of August 10, an auction was held for 68 land plots in Ngo Ba, Thanh Than hamlet, Thanh Cao commune, Thanh Oai district, Hanoi. The highest bid was over VND 100 million per square meter, eight times the starting price. Regular plots were also sold for VND 63-80 million per square meter, five to 6.4 times the starting price.
In fact, land prices in Thanh Cao commune, Thanh Oai district, Hanoi, have been on an upward trend in recent years. According to Batdongsan.com.vn, the average advertised land price in the area increased by about 80% over four years – from VND 15 million per square meter in 2020 to VND 27 million per square meter in 2024.
Compared to the average advertised price of VND 27 million per square meter in the second quarter of 2024, the auction prices of VND 63-100 million per square meter for land plots in Thanh Cao commune on August 10, 2024, were 2.3 to 3.7 times higher.
Historical land prices in Thanh Cao commune, Thanh Oai district (Source: Batdongsan.com.vn)
Land price data for neighboring communes in Thanh Oai district
Predicting the land price trend, Mr. Nguyen Quoc Anh, Deputy General Director of Batdongsan.com.vn, said that from the second quarter of 2025 onwards, the land market will enter a major recovery phase. The current waves are only localised in certain areas.
According to Mr. Quoc Anh, there are three main factors that significantly impact the land market: the region’s economy (and even the country’s macroeconomic situation), infrastructure planning, and demographics, along with connectivity to other localities.
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