Landowners in Dong Anh district are lowering their asking prices, and transactions are slowing down.

(Dan Tri Newspaper) - According to a survey, real estate prices in Dong Anh district have decreased slightly compared to before. Experts believe that properties in this district are currently being offered at prices that will be available many years from now.

The days of investors scrambling to buy land are over.

The real estate market in Dong Anh ( Hanoi ) witnessed a strong price increase in 2024. However, currently, prices and transactions in this area are showing signs of cooling down.

According to a survey by Dan Tri reporters, in the communes of Uy No, Dong Hoi, Vinh Ngoc, and Tien Duong, land plots located on main roads suitable for business are showing signs of cooling down, from 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 was advertised for sale at 17.7 billion VND in September 2024, equivalent to over 220 million VND/m2. Currently, the same plot of land is being offered for sale at 16 billion VND, equivalent to 200 million VND/m2. According to the seller, the owner urgently needs money and is therefore willing to accept a slight price reduction for a quick sale.

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

In the Hai Boi and Xuan Canh communes (Dong Anh district), the asking price for land plots in alleys accessible by car ranges from 60-70 million VND/m2. Plots located on main roads suitable for business are currently being offered at 100-110 million VND/m2. Compared to September 2024, this represents a slight decrease of about 5-10%.

For example, a 50m2 plot of land in Hai Boi commune, located on a 4m wide alley, is being offered for sale at 3.2 billion VND, equivalent to 64 million VND/m2. According to the seller, this plot was initially offered for sale at 3.5 billion VND in October 2024, but the owner has since lowered the price.

According to observations by Dan Tri reporters, the areas of Vinh Ngoc, Dong Hoi, Uy No, Hai Boi communes, etc., no longer see crowds of investors searching for and viewing land.

Mr. Ngoc, a resident of Dong Hoi commune, said that in the middle of last year, when several projects in Dong Anh district were launched, many people from central Hanoi flocked to look for land around the alleys and streets.

At that time, some residents in his area were afraid of making a bad deal, so even though they were offered very high prices, they didn't sell, waiting for the price to increase further. However, for about the last two months, the scene of people "scouring" to buy land has disappeared. Many plots of land are still being advertised for sale, but there are no buyers yet.

Are properties in Dong Anh district being sold at prices that will be several years from now?

According to real estate expert Pham Duc Toan, property prices in many areas of Hanoi, including Dong Anh, increased sharply last year.

However, the price increase coupled with low transaction volumes does not accurately reflect the supply and demand dynamics of the market. Therefore, it is understandable that some landowners have recently reduced their selling prices. However, the current price adjustments are insignificant compared to the initial increases.

Experts believe that real estate in Dong Anh district is being sold at prices that will be several years from now (Photo: Duong Tam).

According to him, the real estate market in Dong Anh district has experienced several "booms" in recent years. Currently, properties in this district are being offered for sale at prices that will be several years from now. Therefore, buyers need to consider carefully before making a purchase.

Sharing that 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 "booms" in recent years, leading to very high prices. However, the current prices do not accurately reflect the true value of real estate products in the area.

According to him, the Dong Anh area market benefited from its upgrade to a district and the construction of large real estate projects, but this benefit had already been reflected in prices beforehand. Therefore, even with a slight price adjustment currently, buyers who "put down money" immediately could still face risks. It's possible that buyers will need many years to see a profit, or the market will continue to adjust further after a period of rapid growth.

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