Accordingly, the land market in three districts that are expected to become districts in the near future, namely Gia Lam, Dong Anh, and Hoai Duc, is recording an increase in transactions in the price segment under 2 billion VND. This is a mid-range price, suitable for the finances of most investors as well as the payment ability of real buyers.
Specifically, in Dong Anh, land plots priced under VND2 billion in the communes of Kim Chung, Dai Mach, Vong La, Hai Boi - where Thang Long Industrial Park is located - recorded a slight increase in transaction volume compared to the previous quarter. These plots of land are often located on village roads, cars can enter the front door but two cars have difficulty avoiding each other.
Land plots under 2 billion VND have liquidity again. (Illustration photo)
However, the land prices in the communes also have clear differences: Kim Chung commune fluctuates from 30 - 35 million VND/m2, Dai Mach commune fluctuates from 22 - 26 million VND/m2, in Vong La commune the price is 40 - 45 million VND/m2, Hai Boi recorded the selling price from 35 - 40 million VND/m2.
Cheap land in Gia Lam district is also showing signs of improvement in the segment under 2 billion VND. These plots of land are located in small rural roads, inaccessible by cars but close to the Vinhomes Ocean Park project. The places where many plots of land with the above prices are concentrated are mainly in the two communes of Kieu Ki and Da Ton, with prices ranging from 35-48 million VND/m2, with areas from 40-45m2.
Hoai Duc land near An Khanh industrial clusters and La Phu industrial clusters also recorded increased interest from customers. An Khanh land priced under 2 billion VND is concentrated in Phu Vinh, Van Lung, An Thuong, and An Tho communes with an area of 30 - 45m2 and a selling price of 34 - 45 million VND/m2.
Land in La Phu village with an area of 30-40m2, priced at 36-42 million VND/m2, also has increased interest compared to the previous quarter.
The real estate market report for the third quarter of 2023 of the Vietnam Real Estate Brokers Association said that the segment of land with red books and commercial housing under 2 billion VND had a clear increase in transaction volume, especially in areas with infrastructure investment or areas adjacent to industrial parks with selling prices increasing by 5-7% compared to the previous quarter.
This is also the only bright spot segment of the land type, because with land priced from 3 billion VND/plot or more, the transaction situation is still quite gloomy.
According to brokers, the reason cheap land in these areas is becoming popular again is because the process of becoming a district in the three districts above is quite close, the criteria for becoming a district are basically in the process of completion. This will be a huge driving force for the real estate market to heat up in the coming time.
In addition, deposit interest rates are decreasing, last year's high-interest cash is gradually maturing, investors will be forced to find better investment channels than bank deposits at this time.
Finally, cheap land plots will be suitable for the majority of investors, as well as real home buyers.
According to Batdongsan.com.vn, the positive signals are currently only concentrated in the low-cost land segment with prices under 2 billion VND, while in general, the land market in the higher price segments, the transaction situation is still gloomy. Many valuable land lots, although reduced in price by 20-30%, have not been traded yet.
Many investors predict that it will be mid-2024 or later, the end of 2024, before the land market can return to normal operation when the economy is more stable and the legal corridor is more open.
Chau Anh
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