Following the projects, land prices in Ha Nam skyrocketed.

Land prices increase according to the project

Sun Urban City project is under urgent construction.

Since the Sun Urban City urban area started construction, land prices around the areas of Tien Tan, Tien Hiep communes and Lam Ha ward have also increased rapidly.

Specifically, the price of land plots in the 5% land area in Phu Ngoi village (Tien Hiep), with documents and lottery papers, not yet granted a land use right certificate, at the beginning of 2024 was advertised for sale at 18 - 20 million VND/m2, by December it was advertised for sale at 35 - 40 million VND/m2, an increase of nearly 2.5 times compared to before.

Broker Nguyen Minh Thanh said that 5% of the land in Phu Ngoi village is only 18m wide from the Sun Urban City project.

“This area is being built by Sungroup as Sun World Park. Expected to launch in 2025, with a scale of 19.37 hectares including a water park and an indoor park. In this area, you will enjoy all the amenities of the Sun Urban City project, at a price half that of the shophouses and townhouses of the Sun Urban City project. In addition, about 500 meters away is the Phu Thu intersection, onto the Phap Van - Cau Gie highway, less than 40 minutes to Hanoi ,” Thanh said.

Not only has land in Tien Hiep commune more than doubled, but residential land in villages such as Quynh Chan and Luong Co (Lam Ha ward) has also increased rapidly following the project.

Accordingly, plots of land that some families living in alleys in the village have divided into plots for sale are also being advertised at 30-40 million VND/m2, depending on whether the road is accessible by car or not. This price has also doubled compared to the beginning of 2024.

Bustling Brokerage

Reporters continued to survey land in the communes of Liem Tuyen and Liem Chinh, near Viet Duc Hospital and Bach Mai Hospital, branch 2 in Ha Nam on the afternoon of December 14.

Temporary land sale and consulting banners were quickly erected.

In contrast to the quiet, desolate scene of Bach Mai Hospital and Viet Duc Hospital, branch 2, the land and housing projects around this area are unusually bustling with "land brokers" and investors.

Brokers here said that land prices here continue to increase every day.

According to the reporter’s observations, many completed houses have billboards with the names “Real Estate Center” and phone numbers “sprouting up” on many plots of land in the project. Many other billboards have also been hastily stretched on vacant land or makeshift tents in the middle of the “wilderness” for brokers to advertise land for sale.

Although the hospitals are not yet in operation, the land prices introduced by brokers are quite high.

Brokers do not hesitate to make attractive offers for plots of land ranging from 70m² to 140m², with prices ranging from VND28 million/m² to VND70 million or VND80 million/m², depending on location.

Broker Nguyen Trong Thi said that many frontage plots of land in corner locations near Bach Mai Hospital, Facility 2, will have higher prices than those on branch roads and areas next to Viet Duc Hospital, Facility 2.

“Because the hospital is about to open, many investors are looking into it and putting down money, the price ranges from 40 million to 70 million VND/m2 depending on the location. If you don’t choose a few lots and put down money quickly, the land price in this area will continue to increase at the beginning of the year, making it difficult to have investment opportunities,” Thi said.

Real estate brokerage signs in the area of Bach Mai Hospital and Viet Duc Campus 2 are erected everywhere.

According to Dr. Nguyen Van Dinh, Vice President of the Vietnam Real Estate Association, Ha Nam is located on the North-South economic axis, which has advantages for growth. Ha Nam also develops more slowly than Bac Ninh, Hung Yen and some northern provinces and cities, but this is fortunate because Ha Nam still has room and opportunities to attract large corporations and systematic investment.

“In addition, local real estate prices are still quite low, with land prices ranging from 15-20 million VND/m2, while the central area of Phu Ly City is still low compared to other localities, only about 40-50 million VND/m2. Therefore, it is forecasted that land prices in this area will continue to increase in the near future, especially when the Sun Urban City urban area is gradually completed and put into operation.

When the transport infrastructure develops, it will create opportunities for the service and trade sectors, attracting businesses to invest. Convenient transport and a synchronous and modern utility system will also attract people to live and work, accelerating the pace of urbanization," said Mr. Dinh.

PHAM DUY

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