Thanh Oai district opens land auction where price was once pushed up to 100 million VND/m2

Thanh Oai District ( Hanoi ) is the place where all-night auctions with winning prices reaching hundreds of millions of VND per square meter have begun. Soon, this locality will open an auction at the very place where groups and associations have inflated prices and abandoned deposits.

Thanh Oai district opens land auction where price was once pushed up to 100 million VND/m2

Thanh Oai District (Hanoi) is the place where all-night auctions with winning prices reaching hundreds of millions of VND per square meter have begun. Soon, this locality will hold an auction at the very place where groups and associations have inflated prices and abandoned deposits.

Vietnam Auction Joint Stock Company has just announced the auction of land use rights for 54 plots of land in Alley Ba, Thanh Than village, Thanh Cao commune, Thanh Oai district (Hanoi).

Accordingly, 54 plots of land are divided into three groups according to the starting price. The first group consists of 6 plots with a starting price of 16.3 million VND/m2. The second group consists of 24 plots with a starting price of 15.6 million VND/m2. The third group consists of 24 plots with a starting price of 10.9 million VND/m2.

With an area of ​​60 - 85m2, the plots of land put on the market will have a starting price ranging from 656 million - 1.3 billion VND. The corresponding deposit will be around 130 - 265 million VND/plot.

Notably, instead of a multi-round auction like previous sessions, this time the auction will be held in the form of a single round of direct secret ballot. The auction is scheduled to take place on March 1 at Thanh Oai District Gymnasium.

Image of the land lot that won the bid of 100.5 million VND/m2 in Thanh Cao commune, Thanh Oai district. Photo: Tam Phuc Real Estate.

Previously, on August 10, 2024, also at Ngo Ba area, Thanh Than village, Thanh Cao commune. Thanh Oai district held an auction of 68 land lots. The plots have an area of ​​60 - 85 m2, starting prices range from 8.6 - 12.5 million/m2.

What has stirred up public opinion is the winning price of the land plots. The corner plot here has the highest winning price, up to 100.5 million VND/m2, 8 times higher than the starting price. The other plots have equally high winning prices, ranging from 63 - 80 million VND/m2, 5 - 6.4 times higher than the starting price. These are unprecedented high numbers for the land market in Thanh Oai district.

However, when the payment deadline came, only 13/68 plots were paid in full. The plot with the winning price of 100.5 million VND/m2, along with many other high-value plots, were all forfeited. Subsequent auctions in Thanh Oai district continuously recorded lower winning prices and lower participation.

Source: https://baodautu.vn/batdongsan/huyen-thanh-oai-mo-dau-gia-dat-tai-noi-tung-bi-day-len-100-trieu-dongm2-d246463.html