Landlords in Dong Anh district have stopped raising prices, transactions have slowed down.

(Dan Tri) - According to a survey, the current real estate prices in Dong Anh district have decreased slightly compared to before. Experts say that real estate in this district is being advertised at prices that will last for many years.

No more scene of investors rushing to "hunt" to buy land

The real estate market in Dong Anh ( Hanoi ) in 2024 witnessed a strong increase in prices. However, at present, real estate prices and transactions in this area show signs of cooling down.

According to a survey by Dan Tri reporters, in the areas of Uy No, Dong Hoi, Vinh Ngoc and Tien Duong communes, land plots located on business streets are showing signs of cooling down from the price of 200-250 million VND in September 2024 to 180-220 million VND/m2.

For example, a plot of land in Vinh Ngoc with an area of ​​80m2, in September 2024 was offered for sale at 17.7 billion VND, equivalent to more than 220 million/m2. Up to now, the price of this plot of land has been reduced to 16 billion VND, equivalent to 200 million VND/m2. According to the seller, because the homeowner urgently needed money, he accepted a slight price reduction to sell quickly.

An urban area in Dong Anh district (Photo: Duong Tam).

In Hai Boi and Xuan Canh communes (Dong Anh), the selling price of land in the alley where cars can move ranges from 60-70 million VND/m2. Meanwhile, plots located on the business street are currently being sold for 100-110 million VND/m2. Compared to September 2024, it has decreased slightly by about 5-10%.

For example, a plot of land in Hai Boi commune with an area of ​​50 square meters located on a 4 meter wide alley is being offered for sale at 3.2 billion VND, equivalent to 64 million VND/square meter. According to the seller, this plot of land was offered for sale in October 2024 for 3.5 billion VND, but the owner has now lowered the price.

According to Dan Tri reporter's observation, currently in Vinh Ngoc, Dong Hoi, Uy No, Hai Boi communes,... there is no longer a scene of investors bustling to find and see land.

Mr. Ngoc - a resident of Dong Hoi commune - said that in the middle of last year, when a number of projects in Dong Anh district were started, many people from the center of Hanoi came to look for land around the alleys and streets.

At that time, some people in the area where he lived were afraid of losing money, so even though they were offered a very high price, they still did not sell, waiting for the price to increase. However, in the past 2 months, there have been no more scenes of people "hunting" to buy land. Many plots of land are still for sale but have not seen any buyers.

Real estate in Dong Anh district is being sold at prices many years later?

Mr. Pham Duc Toan - real estate expert - said that last year real estate in many areas of Hanoi increased in price very strongly, including Dong Anh.

However, the increase in price but low transaction volume does not reflect the true nature of supply and demand in the market. Therefore, it is understandable that some landowners have recently reduced their selling prices. However, the current adjusted price is nothing compared to the increase.

Experts say that real estate in Dong Anh district is being sold at prices that will last many years (Photo: Duong Tam).

According to him, the real estate market in Dong Anh district has experienced many "fever" in recent years. Currently, real estate in this district is being advertised at prices that will be many years later. Therefore, buyers need to consider carefully before spending money.

Sharing the same view, Dr. Nguyen Van Dinh - Chairman of the Vietnam Association of Real Estate Brokers (VARS) - said that the real estate market in Dong Anh has experienced many "fevers" in recent years, leading to very high prices. However, the current prices do not reflect the true value of real estate products here.

According to him, the Dong Anh market has benefited from the district upgrade and the construction of large real estate projects, but prices have already been reflected in the past. Therefore, although the current price has slightly adjusted, if buyers "put down money" immediately, they may still face risks. It may take many years for buyers to make a profit or the market will continue to adjust after a period of overheating.

Source: https://dantri.com.vn/bat-dong-san/chu-nha-dat-huyen-dong-anh-bot-het-gia-giao-dich-chung-lai-20250111015415053.htm