The People’s Committee of Trieu Viet Vuong Commune (Hung Yen Province) announced the successful auction of land use rights for 33 residential plots in the new residential area (former Radio and Television Broadcasting Station Signal Station) in Trieu Viet Vuong Commune.
The total starting price for these plots exceeded 54 billion VND, with individual plot sizes ranging from 68m² to over 100m².
By 10:30 AM on October 9th, the auction concluded with 185 participants and 527 registered bids. Employing a sealed, single-round bidding process for each plot, all 33 plots found new owners. Winning bids ranged from 38 million VND to over 88 million VND per square meter, depending on location. The total revenue from the auction is projected to surpass 156 billion VND, exceeding the starting price by more than 102 billion VND.
Auction in progress. Photo: The Duyet
Mr. Le Khanh Duy, Vice Chairman of Trieu Viet Vuong Commune’s People’s Committee, stated that the auctioned land has been equipped with essential infrastructure, including roads, greenery, lighting, electricity, and water supply. Its proximity to an expanded inter-commune road and public schools further enhances its appeal for residential, educational, and commercial purposes. These advantages attracted significant interest from potential buyers.
On average, each plot received 16 bids, with prime locations attracting even more competition. Addressing concerns about price manipulation by real estate brokers, Trieu Viet Vuong Commune leaders assured that a 20% deposit requirement effectively deterred speculative bidding. The final prices, they asserted, accurately reflect the land’s location and surrounding amenities.
Previously, on September 27th, Trieu Viet Vuong Commune successfully auctioned land plots in the Xuan Dinh New Rural Residential Area, An Canh Village. Winning bids ranged from over 28 million VND to nearly 49 million VND per square meter, generating nearly 251 billion VND in total revenue—exceeding the starting price by more than 106 billion VND.
Compared to other communes and wards in Hung Yen Province, Trieu Viet Vuong Commune demonstrates exemplary land management practices. Notably, it was among the first localities in the province to issue land use right certificates (“red books”) to residents following the implementation of the two-tier local government model.
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